1832 Asset Management L.P. Sells 3,081 Shares of American International Group, Inc. (NYSE:AIG)

1832 Asset Management L.P. lowered its stake in American International Group, Inc. (NYSE:AIG) by 8.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,402 shares of the insurance provider’s stock after selling 3,081 shares during the period. 1832 Asset Management L.P.’s holdings in American International Group were worth $2,611,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Rise Advisors LLC acquired a new stake in shares of American International Group in the first quarter worth $29,000. Valued Wealth Advisors LLC boosted its holdings in American International Group by 303.3% during the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 276 shares during the period. CENTRAL TRUST Co grew its position in shares of American International Group by 123.8% in the first quarter. CENTRAL TRUST Co now owns 452 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 250 shares during the last quarter. Neo Ivy Capital Management bought a new position in shares of American International Group in the fourth quarter worth about $40,000. Finally, Scarborough Advisors LLC bought a new position in shares of American International Group in the fourth quarter worth about $40,000. Institutional investors own 90.60% of the company’s stock.

American International Group Trading Up 2.6 %

American International Group stock traded up $1.99 during mid-day trading on Friday, hitting $77.24. 3,681,487 shares of the company’s stock were exchanged, compared to its average volume of 4,334,715. The company’s 50 day simple moving average is $76.11 and its 200-day simple moving average is $74.47. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $51.26 billion, a P/E ratio of 11.53, a PEG ratio of 2.53 and a beta of 1.08. American International Group, Inc. has a fifty-two week low of $57.02 and a fifty-two week high of $80.83.

American International Group (NYSE:AIG) last released its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.11. American International Group had a return on equity of 10.54% and a net margin of 9.98%. The company had revenue of $12.58 billion for the quarter, compared to analyst estimates of $12.04 billion. During the same quarter last year, the firm posted $1.63 earnings per share. On average, equities analysts anticipate that American International Group, Inc. will post 6.4 earnings per share for the current year.

American International Group announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 1st that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 19.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. This is a positive change from American International Group’s previous quarterly dividend of $0.36. The ex-dividend date was Friday, June 14th. American International Group’s dividend payout ratio (DPR) is presently 23.88%.

Insider Activity at American International Group

In other American International Group news, major shareholder International Group American sold 30,000,000 shares of American International Group stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $29.20, for a total value of $876,000,000.00. Following the sale, the insider now owns 294,203,636 shares of the company’s stock, valued at approximately $8,590,746,171.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on AIG shares. BMO Capital Markets lifted their price target on American International Group from $88.00 to $89.00 and gave the stock an “outperform” rating in a research report on Monday, May 13th. Wells Fargo & Company boosted their price target on American International Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, May 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $87.00 price objective on shares of American International Group in a research note on Tuesday, July 9th. Morgan Stanley reduced their target price on shares of American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Finally, Citigroup decreased their price target on American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, July 23rd. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, American International Group has an average rating of “Hold” and a consensus target price of $82.50.

American International Group Company 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.