Abbot Financial Management Inc. Decreases Stake in American International Group, Inc. (NYSE:AIG)

Abbot Financial Management Inc. cut its stake in shares of American International Group, Inc. (NYSE:AIG) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,456 shares of the insurance provider’s stock after selling 164 shares during the quarter. Abbot Financial Management Inc.’s holdings in American International Group were worth $999,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Swedbank AB purchased a new stake in American International Group in the first quarter valued at approximately $99,951,000. Canada Pension Plan Investment Board increased its stake in shares of American International Group by 98.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,893,990 shares of the insurance provider’s stock worth $148,053,000 after acquiring an additional 941,607 shares during the period. Balyasny Asset Management L.P. raised its holdings in shares of American International Group by 95.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,221,724 shares of the insurance provider’s stock worth $82,772,000 after purchasing an additional 597,661 shares during the last quarter. Third Point LLC lifted its position in American International Group by 16.9% during the fourth quarter. Third Point LLC now owns 3,450,000 shares of the insurance provider’s stock valued at $233,738,000 after purchasing an additional 500,000 shares during the period. Finally, Senator Investment Group LP boosted its holdings in American International Group by 41.0% in the first quarter. Senator Investment Group LP now owns 1,517,466 shares of the insurance provider’s stock valued at $118,620,000 after purchasing an additional 441,048 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity at American International Group

In other American International Group news, major shareholder International Group American sold 1,932,609 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total value of $56,432,182.80. Following the transaction, the insider now directly owns 292,271,027 shares of the company’s stock, valued at approximately $8,534,313,988.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is owned by corporate insiders.

American International Group Price Performance

Shares of American International Group stock opened at $73.00 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. The business has a 50 day simple moving average of $74.77 and a two-hundred day simple moving average of $75.69. The stock has a market capitalization of $48.45 billion, a P/E ratio of 10.90, a PEG ratio of 3.60 and a beta of 1.06. American International Group, Inc. has a 12 month low of $57.72 and a 12 month high of $80.83.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.14). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.64 billion. During the same period in the prior year, the company posted $1.75 earnings per share. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, analysts predict that American International Group, Inc. will post 5.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.40 per share. The ex-dividend date is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.19%. American International Group’s payout ratio is presently 23.88%.

Wall Street Analyst Weigh In

AIG has been the subject of several analyst reports. StockNews.com cut American International Group from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Barclays started coverage on American International Group in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on shares of American International Group from $80.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Citigroup lowered their price target on shares of American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, July 23rd. Finally, TD Cowen dropped their price target on shares of American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $83.88.

American International Group Profile

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers’ compensation, excess casualty, and crisis management insurance products; and professional liability insurance.