American International Group, Inc. (NYSE:AIG) Shares Sold by Vestcor Inc

Vestcor Inc lowered its holdings in American International Group, Inc. (NYSE:AIG) by 3.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,225 shares of the insurance provider’s stock after selling 482 shares during the quarter. Vestcor Inc’s holdings in American International Group were worth $1,063,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AIG. Bank of New York Mellon Corp increased its stake in shares of American International Group by 20.4% in the first quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider’s stock worth $974,840,000 after acquiring an additional 1,901,998 shares during the period. Balyasny Asset Management L.P. acquired a new stake in American International Group during the fourth quarter valued at $135,325,000. Caisse DE Depot ET Placement DU Quebec grew its position in American International Group by 2,134.0% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,426,985 shares of the insurance provider’s stock valued at $103,885,000 after buying an additional 1,363,108 shares during the period. GAMMA Investing LLC grew its position in American International Group by 10,211.9% during the first quarter. GAMMA Investing LLC now owns 1,146,478 shares of the insurance provider’s stock valued at $99,675,000 after buying an additional 1,135,360 shares during the period. Finally, Northern Trust Corp grew its position in American International Group by 16.9% during the fourth quarter. Northern Trust Corp now owns 7,258,648 shares of the insurance provider’s stock valued at $528,430,000 after buying an additional 1,050,228 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

Insider Buying and Selling at American International Group

In other American International Group news, EVP Christopher Flatt sold 46,182 shares of American International Group stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the completion of the sale, the executive vice president directly owned 21,400 shares in the company, valued at $1,781,764. This trade represents a 68.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Barclays raised their price target on shares of American International Group from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Jefferies Financial Group raised their price target on shares of American International Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Morgan Stanley increased their price objective on shares of American International Group from $81.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. Keefe, Bruyette & Woods increased their price objective on shares of American International Group from $94.00 to $97.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Finally, Wells Fargo & Company increased their price objective on shares of American International Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $88.19.

American International Group Price Performance

Shares of AIG stock opened at $76.97 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.64 and a quick ratio of 0.64. The firm’s 50-day moving average is $82.94 and its two-hundred day moving average is $81.04. American International Group, Inc. has a 12 month low of $69.00 and a 12 month high of $88.07. The company has a market capitalization of $44.36 billion, a PE ratio of -28.94, a price-to-earnings-growth ratio of 0.85 and a beta of 0.63.

American International Group (NYSE:AIG) last issued its earnings results on Thursday, May 1st. The insurance provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.13. American International Group had a negative net margin of 7.05% and a positive return on equity of 7.13%. The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.89 billion. During the same period in the previous year, the firm earned $1.25 earnings per share. Analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current year.

About American International Group

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.