AustralianSuper Pty Ltd Reduces Stock Holdings in American International Group, Inc. (NYSE:AIG)

AustralianSuper Pty Ltd lowered its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 31.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,008,353 shares of the insurance provider's stock after selling 457,518 shares during the quarter. AustralianSuper Pty Ltd owned 0.17% of American International Group worth $87,666,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its stake in American International Group by 175.0% in the 1st 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. lifted its holdings in American International Group by 2.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,625 shares of the insurance provider's stock worth $1,445,000 after purchasing an additional 355 shares in the last quarter. GAMMA Investing LLC lifted its holdings in American International Group by 18.6% during the 1st quarter. GAMMA Investing LLC now owns 13,187 shares of the insurance provider's stock worth $1,146,000 after purchasing an additional 2,069 shares in the last quarter. Brighton Jones LLC purchased a new stake in American International Group during the 4th quarter worth about $1,091,000. Finally, NBC Securities Inc. purchased a new stake in American International Group during the 1st quarter worth about $47,000. Hedge funds and other institutional investors own 90.60% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Keefe, Bruyette & Woods upped their target price on American International Group from $94.00 to $97.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Morgan Stanley lifted their price objective on shares of American International Group from $81.00 to $85.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $91.00 price objective (up from $83.00) on shares of American International Group in a report on Tuesday, April 8th. Wells Fargo & Company increased their price objective on American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Finally, Evercore ISI increased their price objective on American International Group from $81.00 to $89.00 and gave the company an "in-line" rating in a research report on Tuesday, April 1st. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, American International Group currently has an average rating of "Moderate Buy" and an average target price of $88.12.

Insider Activity

In other news, EVP Christopher Flatt sold 46,182 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the completion of the transaction, the executive vice president directly owned 21,400 shares in the company, valued at approximately $1,781,764. This represents a 68.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.61% of the company's stock.

American International Group Stock Down 0.1%

NYSE AIG traded down $0.09 during trading on Monday, hitting $81.12. The company's stock had a trading volume of 1,223,694 shares, compared to its average volume of 4,355,628. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market cap of $46.75 billion, a PE ratio of -30.55, a P/E/G ratio of 0.89 and a beta of 0.63. The business's 50 day simple moving average is $83.73 and its 200-day simple moving average is $80.65. American International Group, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $88.07.

American International Group (NYSE:AIG - Get Free Report) last announced its earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.13. American International Group had a positive return on equity of 7.13% and a negative net margin of 7.05%. The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.89 billion. During the same period in the prior year, the company posted $1.25 EPS. On average, equities analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a $0.45 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.22%. This is a positive change from American International Group's previous quarterly dividend of $0.40. American International Group's dividend payout ratio is currently -67.67%.

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.