Adage Capital Partners GP L.L.C. Has $9.70 Million Stake in American International Group, Inc. $AIG

Key Points

• Adage Capital Partners GP L.L.C. reduced its holdings in American International Group by 86.5%, selling 716,300 shares in the first quarter, now owning 111,538 shares valued at approximately $9.7 million.
• AIG recently reported $1.81 earnings per share for the last quarter, exceeding analysts' expectations of $1.60, with a revenue of $6.77 billion versus an estimate of $6.81 billion.
• The company declared a quarterly dividend of $0.45 per share, translating to an annualized dividend of $1.80 with a dividend yield of 2.3%.

Adage Capital Partners GP L.L.C. lessened its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 86.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 111,538 shares of the insurance provider's stock after selling 716,300 shares during the period. Adage Capital Partners GP L.L.C.'s holdings in American International Group were worth $9,697,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of AIG. Ameriflex Group Inc. acquired a new stake in shares of American International Group in the 4th quarter valued at $29,000. Sachetta LLC lifted its stake in shares of American International Group by 194.5% in the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 249 shares during the last quarter. Hemington Wealth Management raised its holdings in American International Group by 42.8% in the 1st quarter. Hemington Wealth Management now owns 474 shares of the insurance provider's stock worth $41,000 after acquiring an additional 142 shares during the period. NBC Securities Inc. bought a new position in American International Group in the 1st quarter worth $47,000. Finally, WPG Advisers LLC bought a new position in American International Group in the 1st quarter worth $47,000. Institutional investors and hedge funds own 90.60% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Citigroup assumed coverage on shares of American International Group in a report on Wednesday, August 13th. They issued a "neutral" rating and a $85.00 target price on the stock. William Blair upgraded shares of American International Group to a "strong-buy" rating in a report on Friday, August 1st. Wall Street Zen downgraded shares of American International Group from a "buy" rating to a "hold" rating in a report on Sunday, September 7th. Cfra Research raised shares of American International Group to a "moderate buy" rating in a research note on Monday, August 11th. Finally, Cantor Fitzgerald raised shares of American International Group to a "hold" rating in a research note on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $88.27.

American International Group Price Performance

NYSE:AIG traded up $0.18 on Friday, reaching $78.90. The stock had a trading volume of 4,754,225 shares, compared to its average volume of 3,655,687. The company has a market capitalization of $43.71 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 0.84 and a beta of 0.70. American International Group, Inc. has a 1-year low of $69.24 and a 1-year high of $88.07. 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 stock has a fifty day moving average price of $80.34 and a 200-day moving average price of $82.08.

American International Group (NYSE:AIG - Get Free Report) last released 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. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.81 billion. American International Group had a net margin of 11.51% and a return on equity of 7.88%. During the same period in the previous year, the business earned $1.16 earnings per share. Research analysts forecast that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 16th. American International Group's dividend payout ratio is presently 34.09%.

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.