Rafferty Asset Management LLC Has $16.91 Million Stake in American International Group, Inc. $AIG

Key Points

• Rafferty Asset Management LLC reduced its stake in American International Group, Inc. by 11.6%, owning 194,520 shares worth approximately $16.9 million after selling 25,550 shares.
• GQG Partners LLC significantly increased its position in AIG by 33,315%, acquiring nearly 18.9 million shares valued at $1.64 billion during the same quarter.
• American International Group recently announced a quarterly dividend of $0.45 per share, representing an annual yield of 2.2%, with the ex-dividend date set for September 16th.

Rafferty Asset Management LLC trimmed its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 11.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 194,520 shares of the insurance provider's stock after selling 25,550 shares during the period. Rafferty Asset Management LLC's holdings in American International Group were worth $16,912,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AIA Group Ltd boosted its stake in shares of American International Group by 169.6% in the 1st quarter. AIA Group Ltd now owns 10,368 shares of the insurance provider's stock valued at $901,000 after purchasing an additional 6,523 shares in the last quarter. Townsquare Capital LLC lifted its holdings in American International Group by 5.4% during the 1st quarter. Townsquare Capital LLC now owns 115,129 shares of the insurance provider's stock valued at $10,009,000 after purchasing an additional 5,899 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in American International Group by 175.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 181,810 shares of the insurance provider's stock valued at $15,807,000 after buying an additional 115,706 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in American International Group by 2.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,625 shares of the insurance provider's stock worth $1,445,000 after buying an additional 355 shares during the last quarter. Finally, IFP Advisors Inc increased its holdings in shares of American International Group by 34.9% during the first quarter. IFP Advisors Inc now owns 2,882 shares of the insurance provider's stock worth $251,000 after buying an additional 745 shares in the last quarter. 90.60% of the stock is owned by institutional investors.

American International Group Trading Down 0.3%

NYSE:AIG traded down $0.23 on Friday, hitting $81.37. 4,039,872 shares of the stock were exchanged, compared to its average volume of 3,797,396. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63. American International Group, Inc. has a 52 week low of $69.24 and a 52 week high of $88.07. The stock has a market capitalization of $45.08 billion, a price-to-earnings ratio of 15.41, a P/E/G ratio of 0.87 and a beta of 0.63. The company's 50-day moving average price is $81.27 and its 200 day moving average price is $81.85.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.60 by $0.21. The company had revenue of $6.77 billion during the quarter, compared to analysts' expectations 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 company earned $1.16 EPS. On average, equities research analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, September 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. American International Group's payout ratio is presently 34.09%.

Analysts Set New Price Targets

AIG has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on American International Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Citigroup began coverage on American International Group in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $85.00 price objective on the stock. Keefe, Bruyette & Woods decreased their target price on American International Group from $97.00 to $91.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Cantor Fitzgerald raised American International Group to a "hold" rating in a report on Tuesday, August 12th. Finally, Morgan Stanley upped 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 report on Monday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $88.27.

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.