American International Group, Inc. $AIG Shares Sold by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC reduced its holdings in American International Group by 4.2%, selling 6,755 shares and holding 152,787 shares valued at approximately $13 million.
• Several large investors have recently adjusted their stakes, with Sachetta LLC increasing its stake by 194.5% and new positions taken by Ameriflex Group Inc. and other firms.
• American International Group's stock has received various ratings from analysts, including a "strong-buy" from William Blair and a consensus target price of $88.27.

Exchange Traded Concepts LLC reduced its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 4.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 152,787 shares of the insurance provider's stock after selling 6,755 shares during the period. Exchange Traded Concepts LLC's holdings in American International Group were worth $13,077,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Sachetta LLC grew its stake in shares of American International Group by 194.5% in the first quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock worth $33,000 after acquiring an additional 249 shares in the last quarter. Ameriflex Group Inc. purchased a new position in American International Group in the fourth quarter valued at $29,000. Hemington Wealth Management raised its position in American International Group by 42.8% in the 1st quarter. Hemington Wealth Management now owns 474 shares of the insurance provider's stock valued at $41,000 after purchasing an additional 142 shares in the last quarter. WPG Advisers LLC acquired a new stake in American International Group in the 1st quarter valued at about $47,000. Finally, NBC Securities Inc. acquired a new stake in American International Group in the 1st quarter valued at about $47,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AIG has been the topic of a number of recent research reports. Cantor Fitzgerald upgraded shares of American International Group to a "hold" rating in a research note on Tuesday, August 12th. Citigroup initiated coverage on shares of American International Group in a research report on Wednesday, August 13th. They set a "neutral" rating and a $85.00 price objective for the company. Wolfe Research assumed coverage on shares of American International Group in a research report on Tuesday. They set a "peer perform" rating for the company. William Blair upgraded American International Group to a "strong-buy" rating in a research note on Friday, August 1st. Finally, Cfra Research upgraded American International Group to a "moderate buy" rating in a research note on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $88.27.

American International Group Price Performance

Shares of AIG opened at $78.07 on Friday. American International Group, Inc. has a 1-year low of $69.24 and a 1-year high of $88.07. The stock has a market cap of $43.25 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 0.82 and a beta of 0.70. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a fifty day moving average price of $79.87 and a 200 day moving average price of $81.98.

American International Group (NYSE:AIG - Get Free Report) last posted its earnings results 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 business had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.81 billion. During the same quarter in the previous year, the firm earned $1.16 earnings per share. As a group, sell-side analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 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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