AustralianSuper Pty Ltd Has $87.67 Million Stake in American International Group, Inc. (NYSE:AIG)

AustralianSuper Pty Ltd cut its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 31.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,008,353 shares of the insurance provider's stock after selling 457,518 shares during the period. AustralianSuper Pty Ltd owned 0.17% of American International Group worth $87,666,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Sachetta LLC raised its stake in shares of American International Group by 194.5% during the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock worth $33,000 after buying an additional 249 shares during the last quarter. Ameriflex Group Inc. purchased a new stake in American International Group during the 4th quarter worth about $29,000. NBC Securities Inc. purchased a new stake in American International Group during the 1st quarter worth about $47,000. Colonial Trust Co SC increased its position in American International Group by 150.2% during the 4th quarter. Colonial Trust Co SC now owns 738 shares of the insurance provider's stock worth $54,000 after purchasing an additional 443 shares in the last quarter. Finally, True Wealth Design LLC increased its position in American International Group by 159.6% during the 4th quarter. True Wealth Design LLC now owns 1,041 shares of the insurance provider's stock worth $76,000 after purchasing an additional 640 shares in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Stock Performance

Shares of NYSE:AIG traded up $0.62 on Tuesday, hitting $81.40. The company's stock had a trading volume of 1,249,105 shares, compared to its average volume of 4,349,560. American International Group, Inc. has a 12 month low of $69.00 and a 12 month high of $88.07. The company has a market capitalization of $46.91 billion, a price-to-earnings ratio of -30.58, a price-to-earnings-growth ratio of 0.89 and a beta of 0.63. The stock's 50-day moving average is $83.73 and its two-hundred day moving average is $80.65. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.64 and a current ratio of 0.64.

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

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.21%. This is an increase from American International Group's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, June 13th. American International Group's dividend payout ratio is currently -67.67%.

Wall Street Analysts Forecast Growth

Several analysts have commented on AIG shares. Deutsche Bank Aktiengesellschaft lifted their price target on American International Group to $91.00 and gave the company a "buy" rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods lifted their price target on American International Group from $94.00 to $97.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. The Goldman Sachs Group lifted their price target on American International Group from $79.00 to $87.00 and gave the company a "neutral" rating in a report on Tuesday, April 1st. Morgan Stanley lifted their price target on American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Finally, Barclays lifted their price target on American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $88.12.

Insider Activity at American International Group

In related news, EVP Christopher Flatt sold 46,182 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $83.26, for a total value of $3,845,113.32. Following the completion of the sale, the executive vice president directly owned 21,400 shares of the company's stock, valued at approximately $1,781,764. This represents a 68.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

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.