American International Group, Inc. $AIG Shares Sold by Amundi

Key Points

• Amundi has reduced its holdings in American International Group, Inc. (AIG) by 34.9%, selling over 1 million shares, and now holds around 1.95 million shares valued at approximately $168 million.
• Recent analyst activity has resulted in mixed ratings for AIG, with upgrades to "buy" and "strong buy" from various firms but a reduced price objective from Keefe, Bruyette & Woods, now set at $91.
• AIG declared a $0.45 quarterly dividend, which will be paid on September 30, representing an annualized dividend yield of 2.2%.

Amundi cut its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 34.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,949,453 shares of the insurance provider's stock after selling 1,043,008 shares during the quarter. Amundi owned 0.34% of American International Group worth $168,043,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC purchased a new stake in American International Group in the 4th quarter worth about $1,091,000. Baird Financial Group Inc. lifted its position in American International Group by 6.6% during the 4th quarter. Baird Financial Group Inc. now owns 38,128 shares of the insurance provider's stock valued at $2,776,000 after acquiring an additional 2,350 shares during the period. Cary Street Partners Financial LLC purchased a new position in American International Group in the fourth quarter worth about $401,000. Captrust Financial Advisors raised its position in American International Group by 11.4% in the 4th quarter. Captrust Financial Advisors now owns 50,033 shares of the insurance provider's stock worth $3,642,000 after buying an additional 5,125 shares during the last quarter. Finally, Colonial Trust Co SC increased its position in shares of American International Group by 150.2% during the 4th quarter. Colonial Trust Co SC now owns 738 shares of the insurance provider's stock valued at $54,000 after purchasing an additional 443 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on AIG shares. Morgan Stanley raised their price objective on American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Cfra Research raised American International Group to a "moderate buy" rating in a research report on Monday, August 11th. Citigroup initiated coverage on shares of American International Group in a research note on Wednesday, August 13th. They set a "neutral" rating and a $85.00 price objective for the company. Wall Street Zen downgraded American International Group from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, Cantor Fitzgerald upgraded shares of American International Group to a "hold" rating in a research report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $88.27.

American International Group Stock Performance

Shares of NYSE AIG traded down $0.35 during mid-day trading on Wednesday, hitting $78.13. 895,274 shares of the company were exchanged, compared to its average volume of 4,476,596. American International Group, Inc. has a 1-year low of $69.24 and a 1-year high of $88.07. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. The stock has a 50 day simple moving average of $80.57 and a 200-day simple moving average of $82.11. The firm has a market cap of $43.28 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 0.84 and a beta of 0.70.

American International Group (NYSE:AIG - Get Free Report) last released its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.21. The company 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 quarter last year, the company earned $1.16 earnings per share. On average, sell-side analysts forecast that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a $0.45 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $1.80 annualized dividend and a yield of 2.3%. American International Group's payout ratio is 34.09%.

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.