Prudential Financial Inc. reduced its stake in shares of American International Group Inc. (NYSE:AIG) by 12.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,453,734 shares of the insurance provider’s stock after selling 204,156 shares during the period. Prudential Financial Inc. owned about 0.14% of American International Group worth $86,265,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Bronfman E.L. Rothschild L.P. raised its position in shares of American International Group by 194.3% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 5,772 shares of the insurance provider’s stock valued at $343,000 after buying an additional 3,811 shares in the last quarter. United Asset Strategies Inc. acquired a new position in shares of American International Group during the third quarter valued at about $213,000. Sei Investments Co. raised its position in shares of American International Group by 10.7% in the third quarter. Sei Investments Co. now owns 555,402 shares of the insurance provider’s stock valued at $32,958,000 after buying an additional 53,531 shares in the last quarter. Rand Wealth LLC acquired a new position in shares of American International Group during the third quarter valued at about $208,000. Finally, Teacher Retirement System of Texas raised its position in shares of American International Group by 7.1% in the third quarter. Teacher Retirement System of Texas now owns 2,034,853 shares of the insurance provider’s stock valued at $120,748,000 after buying an additional 135,762 shares in the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.

Institutional Ownership by Quarter for American International Group (NYSE:AIG)

American International Group Inc. (NYSE:AIG) opened at 63.31 on Tuesday. The company has a market cap of $65.03 billion, a PE ratio of 206.22 and a beta of 1.37. American International Group Inc. has a 52-week low of $48.41 and a 52-week high of $64.72. The firm’s 50-day moving average price is $61.50 and its 200 day moving average price is $57.85.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, November 2nd. The insurance provider reported $1.23 EPS for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.02. American International Group had a return on equity of 1.82% and a net margin of 0.66%. During the same period in the previous year, the firm earned $0.52 earnings per share. On average, equities analysts predict that American International Group Inc. will post $3.77 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 22nd. Shareholders of record on Thursday, December 8th will be paid a $0.32 dividend. The ex-dividend date is Tuesday, December 6th. This represents a $1.28 dividend on an annualized basis and a yield of 1.99%. American International Group’s dividend payout ratio (DPR) is presently 290.92%.

TRADEMARK VIOLATION WARNING: This piece of content was first reported by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are viewing this piece of content on another site, it was illegally stolen and republished in violation of US and international trademark and copyright laws. The legal version of this piece of content can be accessed at https://www.thecerbatgem.com/2016/11/29/american-international-group-inc-aig-shares-sold-by-prudential-financial-inc.html.

Several brokerages recently issued reports on AIG. FBR & Co boosted their price objective on American International Group from $57.00 to $64.00 and gave the company a “mkt perform” rating in a research report on Monday. Credit Suisse Group AG set a $61.00 price objective on American International Group and gave the company a “hold” rating in a research report on Sunday, November 20th. Vetr lowered American International Group from a “strong-buy” rating to a “buy” rating and set a $67.85 price objective for the company. in a research report on Wednesday, November 9th. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $65.00 price objective on shares of American International Group in a research report on Thursday, November 3rd. Finally, TheStreet upgraded American International Group from a “hold” rating to a “buy” rating in a research report on Monday, October 10th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. American International Group currently has an average rating of “Buy” and a consensus target price of $65.62.

About American International Group

American International Group, Inc (AIG) is an insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products, mortgage insurance and other financial services to customers in over 100 countries and jurisdictions. The Company operates through two segments: Commercial Insurance and Consumer Insurance, as well as a Corporate and Other category.

5 Day Chart for NYSE:AIG

Receive News & Stock Ratings for American International Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American International Group Inc. and related stocks with our FREE daily email newsletter.