Adams Diversified Equity Fund Inc. reduced its stake in shares of American International Group, Inc. (NYSE:AIG – Get Rating) by 6.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 493,600 shares of the insurance provider's stock after selling 36,800 shares during the period. American International Group makes up approximately 1.5% of Adams Diversified Equity Fund Inc.'s investment portfolio, making the stock its 13th biggest holding. Adams Diversified Equity Fund Inc. owned 0.07% of American International Group worth $31,215,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Fairfield Bush & CO. acquired a new position in American International Group during the first quarter valued at $84,000. Cetera Advisor Networks LLC lifted its position in American International Group by 11.7% during the first quarter. Cetera Advisor Networks LLC now owns 5,535 shares of the insurance provider's stock valued at $347,000 after purchasing an additional 578 shares during the period. Blair William & Co. IL lifted its position in American International Group by 1.2% during the first quarter. Blair William & Co. IL now owns 100,861 shares of the insurance provider's stock valued at $6,331,000 after purchasing an additional 1,207 shares during the period. Cetera Investment Advisers lifted its position in American International Group by 20.1% during the first quarter. Cetera Investment Advisers now owns 20,447 shares of the insurance provider's stock valued at $1,283,000 after purchasing an additional 3,428 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its position in American International Group by 43.3% during the first quarter. Sequoia Financial Advisors LLC now owns 5,324 shares of the insurance provider's stock valued at $334,000 after purchasing an additional 1,608 shares during the period. 89.01% of the stock is currently owned by institutional investors and hedge funds.
Get American International Group alerts:Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods cut their price objective on shares of American International Group from $76.00 to $73.00 and set an "outperform" rating for the company in a report on Tuesday, April 18th. StockNews.com assumed coverage on shares of American International Group in a report on Thursday, March 16th. They issued a "hold" rating for the company. BMO Capital Markets assumed coverage on shares of American International Group in a report on Thursday, January 19th. They issued a "market perform" rating and a $64.00 price objective for the company. Wells Fargo & Company cut their price objective on shares of American International Group from $61.00 to $58.00 and set an "equal weight" rating for the company in a report on Wednesday, April 5th. Finally, Atlantic Securities cut shares of American International Group from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $70.00 to $65.00 in a research note on Wednesday, February 22nd. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $65.79.
American International Group Price Performance
American International Group stock opened at $51.55 on Friday. American International Group, Inc. has a 12-month low of $45.66 and a 12-month high of $64.88. The stock has a market capitalization of $37.82 billion, a P/E ratio of 4.03, a P/E/G ratio of 0.85 and a beta of 1.11. The firm's 50-day moving average is $54.05 and its two-hundred day moving average is $57.78. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.31 and a quick ratio of 0.31.
American International Group (NYSE:AIG – Get Rating) last released its earnings results on Thursday, February 16th. The insurance provider reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.17. American International Group had a net margin of 18.21% and a return on equity of 7.70%. The business had revenue of $11.59 billion for the quarter, compared to analysts' expectations of $11.84 billion. During the same period last year, the company earned $1.58 earnings per share. Equities analysts predict that American International Group, Inc. will post 6.16 earnings per share for the current year.
American International Group Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Friday, March 17th were issued a $0.32 dividend. The ex-dividend date was Thursday, March 16th. This represents a $1.28 annualized dividend and a yield of 2.48%. American International Group's payout ratio is 10.02%.
About American International Group
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American International Group, Inc engages in the provision of a range of property casualty insurance, life insurance, retirement products, and other financial services to commercial and individual customers. It operates through the following segments: General Insurance, Life and Retirement and Other Operations.
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