American International Group, Inc. $AIG Shares Sold by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. reduced its stake in American International Group, Inc. (AIG) by 13.0% during the first quarter, holding 5,470,635 shares valued at $475.6 million.
• In contrast, GQG Partners LLC significantly increased its position by over 33,000%, now owning nearly 19 million shares worth approximately $1.64 billion.
• AIG announced a quarterly dividend of $0.45 per share, reflecting an annualized yield of 2.2% and a payout ratio of 34.09%.

Ameriprise Financial Inc. trimmed its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 13.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 5,470,635 shares of the insurance provider's stock after selling 814,628 shares during the quarter. Ameriprise Financial Inc. owned about 0.95% of American International Group worth $475,600,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ameriflex Group Inc. bought a new position in American International Group during the 4th quarter valued at about $29,000. Sachetta LLC lifted its stake in American International Group by 194.5% during the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 249 shares during the period. Hemington Wealth Management lifted its stake in American International Group by 42.8% during the 1st quarter. Hemington Wealth Management now owns 474 shares of the insurance provider's stock valued at $41,000 after acquiring an additional 142 shares during the period. NBC Securities Inc. bought a new position in American International Group during the 1st quarter valued at about $47,000. Finally, SouthState Corp lifted its stake in American International Group by 798.5% during the 1st quarter. SouthState Corp now owns 584 shares of the insurance provider's stock valued at $51,000 after acquiring an additional 519 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on AIG shares. Morgan Stanley upped their target price on shares of American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Cantor Fitzgerald upgraded shares of American International Group to a "hold" rating in a research note on Tuesday, August 12th. Wall Street Zen cut shares of American International Group from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Cfra Research upgraded shares of American International Group to a "moderate buy" rating in a research note on Monday, August 11th. Finally, Barclays increased their price objective on shares of American International Group from $92.00 to $93.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $88.27.

American International Group Stock Down 0.4%

Shares of AIG stock traded down $0.32 during trading hours on Wednesday, reaching $82.26. 2,024,965 shares of the company's stock were exchanged, compared to its average volume of 4,489,390. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 1 year low of $69.24 and a 1 year high of $88.07. The stock has a market cap of $45.57 billion, a PE ratio of 15.58, a PEG ratio of 0.89 and a beta of 0.63. The stock's fifty day moving average price is $81.43 and its two-hundred day moving average price is $81.76.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.60 by $0.21. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.81 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same period in the prior year, the company earned $1.16 EPS. Research analysts predict that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Dividend Announcement

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

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.