The Manufacturers Life Insurance Company Reduces Stock Position in American International Group, Inc. $AIG

Key Points

• The Manufacturers Life Insurance Company reduced its stake in American International Group, Inc. by 26.6%, now holding approximately 0.10% of the company valued at $51.7 million after selling 216,047 shares.
• American International Group recently reported $1.81 earnings per share for the last quarter, exceeding analysts' estimates of $1.60, with a revenue of $6.77 billion.
• The company announced a quarterly dividend of $0.45 per share, translating to an annualized yield of 2.2%, with a dividend payout ratio of 34.09%.

The Manufacturers Life Insurance Company cut its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 26.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 595,141 shares of the insurance provider's stock after selling 216,047 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.10% of American International Group worth $51,742,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Ameriflex Group Inc. purchased a new position in American International Group during the 4th quarter valued at about $29,000. Sachetta LLC boosted its holdings in shares of American International Group by 194.5% during the first quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock worth $33,000 after purchasing an additional 249 shares during the period. Hemington Wealth Management increased its position in shares of 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 during the period. NBC Securities Inc. purchased a new position in shares of American International Group during the first quarter valued at about $47,000. Finally, WPG Advisers LLC purchased a new position in American International Group during the 1st quarter valued at about $47,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Price Performance

Shares of AIG stock traded up $0.33 on Thursday, reaching $81.67. 1,890,711 shares of the company were exchanged, compared to its average volume of 4,486,591. The business has a 50-day moving average price of $81.03 and a 200 day moving average price of $81.96. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market cap of $45.24 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 0.87 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.

American International Group (NYSE:AIG - Get Free Report) last issued 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. The company 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 period in the previous year, the firm earned $1.16 earnings per share. Equities research analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Cantor Fitzgerald raised American International Group to a "hold" rating in a research report on Tuesday, August 12th. Citigroup began coverage on shares of American International Group in a research report on Wednesday, August 13th. They set a "neutral" rating and a $85.00 target price on the stock. Morgan Stanley lifted their price target on shares of American International Group from $81.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Keefe, Bruyette & Woods reduced their price target on shares of American International Group from $97.00 to $91.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Finally, Wall Street Zen raised shares of American International Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $88.27.

American International Group 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.