Allspring Global Investments Holdings LLC Lowers Holdings in American International Group, Inc. $AIG

Key Points

• Allspring Global Investments Holdings LLC has reduced its stake in American International Group (AIG) by 3.4%, now owning around 605,870 shares valued at approximately $52 million.
• Several large investors have significantly increased their stakes in AIG, with GQG Partners boosting their position by 33,315.0% during Q1.
• Analysts have mixed ratings on AIG, with a consensus price target of $89.81, and updates from firms like UBS Group and Morgan Stanley suggesting varied growth expectations.

Allspring Global Investments Holdings LLC decreased its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 3.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 605,870 shares of the insurance provider's stock after selling 21,446 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.11% of American International Group worth $52,026,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. GQG Partners LLC boosted its position in shares of American International Group by 33,315.0% during the first quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider's stock valued at $1,643,995,000 after buying an additional 18,852,949 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of American International Group by 20.4% during the first quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider's stock valued at $974,840,000 after buying an additional 1,901,998 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in American International Group by 22.8% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 9,113,636 shares of the insurance provider's stock valued at $792,340,000 after acquiring an additional 1,694,290 shares during the last quarter. Nuveen LLC purchased a new stake in American International Group during the first quarter valued at $440,273,000. Finally, AQR Capital Management LLC increased its position in American International Group by 184.4% during the first quarter. AQR Capital Management LLC now owns 3,335,040 shares of the insurance provider's stock valued at $287,214,000 after acquiring an additional 2,162,545 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Morgan Stanley reduced their price objective on American International Group from $85.00 to $84.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 7th. UBS Group upped their price target on American International Group from $90.00 to $94.00 and gave the stock a "buy" rating in a research report on Wednesday, October 8th. Wall Street Zen upgraded American International Group from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. Citigroup assumed coverage on American International Group in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $85.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price objective on American International Group from $95.00 to $97.00 and gave the stock a "neutral" rating in a research note on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $89.81.

American International Group Stock Performance

NYSE AIG opened at $82.93 on Wednesday. The firm has a market cap of $45.94 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 0.86 and a beta of 0.68. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $79.96 and a 200-day moving average price of $81.64. American International Group, Inc. has a twelve month low of $69.24 and a twelve month high of $88.07.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.21. American International Group had a return on equity of 7.88% and a net margin of 11.51%.The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same period in the prior year, the company earned $1.16 earnings per share. As a group, equities research analysts predict that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. American International Group's dividend payout ratio is presently 34.09%.

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.

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