American International Group, Inc. $AIG Shares Sold by Beacon Investment Advisory Services Inc.

Key Points

• Beacon Investment Advisory Services Inc. significantly reduced its holdings in American International Group, Inc. by 93.0%, now owning only 3,890 shares valued at approximately $333,000.
• GQG Partners LLC made a remarkable addition to its stake by increasing it by 33,315.0% during the first quarter, acquiring nearly 18.9 million shares, worth around $1.64 billion.
• AIG's recent quarterly earnings showed an EPS of $1.81, exceeding analysts' expectations, while the company also announced a $0.45 quarterly dividend to be paid on September 30th.

Beacon Investment Advisory Services Inc. cut its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 93.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,890 shares of the insurance provider's stock after selling 51,539 shares during the quarter. Beacon Investment Advisory Services Inc.'s holdings in American International Group were worth $333,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of AIG. GQG Partners LLC increased its stake in American International Group by 33,315.0% in 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 purchasing an additional 18,852,949 shares during the period. Nuveen LLC acquired a new position in shares of American International Group during the first quarter worth about $440,273,000. AQR Capital Management LLC increased its stake in shares of 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 worth $287,214,000 after acquiring an additional 2,162,545 shares during the period. Raymond James Financial Inc. increased its stake in shares of American International Group by 151.6% during the first quarter. Raymond James Financial Inc. now owns 3,285,963 shares of the insurance provider's stock worth $285,682,000 after acquiring an additional 1,980,001 shares during the period. Finally, Bank of New York Mellon Corp increased its stake 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 worth $974,840,000 after acquiring an additional 1,901,998 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AIG shares. Wall Street Zen lowered shares of American International Group from a "buy" rating to a "hold" rating in a research note on Tuesday. Cfra Research upgraded shares of American International Group to a "moderate buy" rating in a research note on Monday, August 11th. William Blair upgraded shares of American International Group to a "strong-buy" rating in a research note on Friday, August 1st. Citigroup started coverage on shares of American International Group in a research note on Wednesday, August 13th. They set a "neutral" rating and a $85.00 price target on the stock. Finally, Cantor Fitzgerald upgraded shares of American International Group to a "hold" rating in a research note on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, American International Group has a consensus rating of "Moderate Buy" and a consensus target price of $88.27.

American International Group Stock Down 1.0%

AIG stock opened at $77.13 on Friday. The company has a market cap of $42.73 billion, a P/E ratio of 14.61, a P/E/G ratio of 0.83 and a beta of 0.70. American International Group, Inc. has a 52 week low of $69.24 and a 52 week high of $88.07. The company's 50-day moving average price is $79.44 and its 200 day moving average price is $81.84. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG - Get Free Report) last released 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. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $1.16 earnings per share. On average, research analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 16th. American International Group's dividend payout ratio is 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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