American International Group, Inc. $AIG Stock Position Lessened by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management reduced its AIG stake by 19.1% in the second quarter, selling 152,670 shares and retaining 646,615 shares worth approximately $48.2 million. Institutional investors collectively own 90.6% of AIG.
• AIG reported quarterly earnings of $2.00 per share, surpassing the $1.92 analyst consensus, although revenue of $7.08 billion fell short of the $7.25 billion estimate.
• AIG declared a quarterly dividend of $0.50 per share, equivalent to $2.00 annually and a 2.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $88.16, versus the stock’s reported $74.25 price.

Envestnet Asset Management Inc. reduced its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 19.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 646,615 shares of the insurance provider's stock after selling 152,670 shares during the period. Envestnet Asset Management Inc. owned approximately 0.12% of American International Group worth $48,192,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AIG. Modus Advisors LLC bought a new stake in shares of American International Group during the fourth quarter valued at about $27,000. First Bancorp Inc ME bought a new position in shares of American International Group in the second quarter valued at approximately $30,000. SHP Wealth Management purchased a new position in American International Group during the fourth quarter valued at approximately $34,000. Fiduciary Financial Advisors purchased a new position in American International Group during the second quarter valued at approximately $34,000. Finally, CENTRAL TRUST Co increased its holdings in American International Group by 48.7% during the 1st quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider's stock worth $35,000 after acquiring an additional 151 shares during the period. 90.60% of the stock is currently owned by institutional investors.

American International Group Stock Up 0.1%

Shares of NYSE:AIG opened at $74.25 on Monday. American International Group, Inc. has a 52-week low of $71.25 and a 52-week high of $87.29. The firm has a fifty day moving average of $76.99 and a 200 day moving average of $76.52. The firm has a market capitalization of $38.83 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 0.83 and a beta of 0.50. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings results on Friday, August 7th. The insurance provider reported $2.00 earnings per share for the quarter, beating analysts' consensus estimates of $1.92 by $0.08. The business had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.25 billion. American International Group had a return on equity of 11.05% and a net margin of 11.13%.During the same quarter last year, the business posted $1.81 earnings per share. As a group, research analysts anticipate that American International Group, Inc. will post 8.02 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Wednesday, September 16th. American International Group's payout ratio is presently 36.56%.

Wall Street Analysts Forecast Growth

AIG has been the topic of several recent analyst reports. HSBC lowered their target price on shares of American International Group from $94.00 to $88.00 and set a "buy" rating on the stock in a research note on Monday, July 6th. The Goldman Sachs Group upped their price target on shares of American International Group from $85.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, July 1st. Barclays increased their price objective on American International Group from $80.00 to $81.00 and gave the stock an "equal weight" rating in a research report on Friday, August 7th. JPMorgan Chase & Co. lifted their price objective on American International Group from $86.00 to $90.00 and gave the company a "neutral" rating in a research note on Monday, July 20th. Finally, Morgan Stanley reduced their target price on American International Group from $82.00 to $81.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 12th. Eight analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $88.16.

Insider Activity

In other news, insider Peter Zaffino sold 36,829 shares of the company's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $76.14, for a total value of $2,804,160.06. Following the completion of the sale, the insider owned 556,004 shares of the company's stock, valued at approximately $42,334,144.56. This represents a 6.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company's stock.

American International Group Profile

American International Group, Inc NYSE: AIG is a global insurance organization that provides commercial and personal insurance products and services. Through its General Insurance business, AIG offers property, casualty, liability, workers' compensation, accident, specialty, and other insurance solutions to businesses, institutions, and individuals.

AIG serves multinational corporations, small and midsize businesses, public-sector organizations, and individual policyholders through a network spanning numerous countries and jurisdictions.

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