Principal Financial Group Inc. Cuts Stake in American International Group, Inc. (NYSE:AIG)

Principal Financial Group Inc. lowered its stake in shares of American International Group, Inc. (NYSE:AIG) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 706,586 shares of the insurance provider’s stock after selling 27,874 shares during the quarter. Principal Financial Group Inc. owned about 0.11% of American International Group worth $51,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in AIG. Creative Planning boosted its position in American International Group by 20.6% during the third quarter. Creative Planning now owns 50,014 shares of the insurance provider’s stock valued at $3,663,000 after purchasing an additional 8,556 shares in the last quarter. Blue Trust Inc. boosted its holdings in American International Group by 181.0% in the third quarter. Blue Trust Inc. now owns 4,019 shares of the insurance provider’s stock worth $298,000 after acquiring an additional 2,589 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in American International Group by 2.0% in the third quarter. Sequoia Financial Advisors LLC now owns 20,336 shares of the insurance provider’s stock worth $1,489,000 after acquiring an additional 396 shares in the last quarter. Signaturefd LLC boosted its holdings in American International Group by 5.6% in the third quarter. Signaturefd LLC now owns 6,005 shares of the insurance provider’s stock worth $440,000 after acquiring an additional 321 shares in the last quarter. Finally, Greenleaf Trust boosted its holdings in American International Group by 1.9% in the third quarter. Greenleaf Trust now owns 22,230 shares of the insurance provider’s stock worth $1,628,000 after acquiring an additional 420 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

NYSE AIG opened at $76.27 on Friday. The stock’s fifty day moving average is $73.60 and its two-hundred day moving average is $74.44. The firm has a market capitalization of $45.25 billion, a P/E ratio of -36.67, a price-to-earnings-growth ratio of 0.98 and a beta of 1.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67. American International Group, Inc. has a fifty-two week low of $68.15 and a fifty-two week high of $80.83.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. On average, research analysts anticipate that American International Group, Inc. will post 6.32 earnings per share for the current year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Monday, March 17th. American International Group’s dividend payout ratio (DPR) is presently -76.92%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Keefe, Bruyette & Woods raised their price target on American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. Wells Fargo & Company raised their price target on American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. StockNews.com raised American International Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. UBS Group decreased their target price on American International Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Morgan Stanley lifted their target price on American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, American International Group has a consensus rating of “Hold” and a consensus target price of $83.94.

Insider Activity

In other news, Director John G. Rice acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average price of $77.00 per share, for a total transaction of $770,000.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $770,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.61% of the company’s stock.

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.