American International Group, Inc. $AIG Holdings Trimmed by Connecticut Wealth Management LLC

Key Points

• Connecticut Wealth Management LLC has reduced its stake in American International Group, Inc. by 54.7%, now holding 58,245 shares worth approximately $5.06 million.
• American International Group has announced a quarterly dividend of $0.45 per share, with an ex-dividend date on September 16th, representing an annualized yield of 2.2%.
• The company's recent earnings report showed an EPS of $1.81, exceeding expectations, although revenue fell slightly short of estimates at $6.77 billion.

Connecticut Wealth Management LLC lowered its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 54.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,245 shares of the insurance provider's stock after selling 70,331 shares during the quarter. Connecticut Wealth Management LLC's holdings in American International Group were worth $5,064,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Sachetta LLC boosted its stake in American International Group by 194.5% during the first quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock valued at $33,000 after buying an additional 249 shares in the last quarter. Ameriflex Group Inc. bought a new position in American International Group during the fourth quarter valued at about $29,000. Hemington Wealth Management boosted its stake in American International Group by 42.8% during the first quarter. Hemington Wealth Management now owns 474 shares of the insurance provider's stock valued at $41,000 after buying an additional 142 shares in the last quarter. WPG Advisers LLC bought a new position in American International Group during the first quarter valued at about $47,000. Finally, NBC Securities Inc. acquired a new position in shares of American International Group in the 1st quarter valued at $47,000. Institutional investors own 90.60% of the company's stock.

American International Group Trading Down 0.3%

Shares of NYSE AIG opened at $81.37 on Friday. American International Group, Inc. has a one year low of $69.24 and a one year high of $88.07. The firm has a market capitalization of $45.08 billion, a PE ratio of 15.41, a PEG ratio of 0.87 and a beta of 0.63. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $81.27 and a two-hundred day moving average price of $81.85.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, topping 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 firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same period last year, the company posted $1.16 EPS. As a group, analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AIG. Morgan Stanley increased their price target on American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Cantor Fitzgerald upgraded American International Group to a "hold" rating in a research report on Tuesday, August 12th. Keefe, Bruyette & Woods decreased their price target on American International Group from $97.00 to $91.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. William Blair upgraded American International Group to a "strong-buy" rating in a research report on Friday, August 1st. Finally, Barclays increased their price target on American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, American International Group currently has a consensus rating of "Moderate Buy" and an average target price of $88.27.

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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