American International Group, Inc. $AIG Stake Lowered by Entropy Technologies LP

Key Points

• Entropy Technologies LP reduced its AIG stake by 54.9% in the first quarter, selling 34,909 shares and retaining 28,621 shares valued at approximately $2.15 million.
• Institutional ownership remains high at 90.6%, with Norges Bank initiating a large position and firms including T. Rowe Price and Franklin Resources significantly increasing their holdings.
• AIG reported quarterly EPS of $2.11, beating estimates of $1.89, and raised its quarterly dividend to $0.50 per share. Analysts’ average rating is “Hold,” with an average price target of $88.22 versus a recent share price of $79.09.

Entropy Technologies LP cut its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 54.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,621 shares of the insurance provider's stock after selling 34,909 shares during the quarter. Entropy Technologies LP's holdings in American International Group were worth $2,154,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in American International Group during the fourth quarter valued at $636,782,000. Price T Rowe Associates Inc. MD grew its stake in American International Group by 39.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider's stock valued at $1,400,613,000 after purchasing an additional 4,661,246 shares in the last quarter. Franklin Resources Inc. increased its position in American International Group by 36.9% in the 4th quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider's stock worth $1,336,147,000 after purchasing an additional 4,210,363 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in American International Group by 22.0% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider's stock worth $805,529,000 after purchasing an additional 1,846,979 shares during the last quarter. Finally, Viking Global Investors LP purchased a new stake in shares of American International Group during the 2nd quarter worth about $155,413,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Price Performance

Shares of NYSE:AIG opened at $79.09 on Monday. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.29. The business has a 50-day moving average of $76.74 and a two-hundred day moving average of $76.44. The stock has a market capitalization of $41.93 billion, a P/E ratio of 13.95, a P/E/G ratio of 0.73 and a beta of 0.53. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.22. The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.03 billion. American International Group had a return on equity of 10.93% and a net margin of 11.86%.During the same quarter in the prior year, the firm posted $1.17 EPS. On average, equities research analysts predict that American International Group, Inc. will post 7.97 EPS for the current fiscal year.

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, June 15th. This is an increase from American International Group's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. American International Group's dividend payout ratio (DPR) is currently 35.27%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AIG shares. Keefe, Bruyette & Woods reduced their price target on American International Group from $98.00 to $95.00 and set an "outperform" rating for the company in a report on Wednesday, July 8th. Citigroup increased their price objective on American International Group from $85.00 to $88.00 and gave the stock a "neutral" rating in a report on Monday, May 4th. Cantor Fitzgerald raised shares of American International Group from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $85.00 to $92.00 in a research report on Thursday, July 9th. UBS Group lifted their target price on shares of American International Group from $94.00 to $98.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings raised shares of American International Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $88.22.

About American International Group

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.