Candriam S.C.A. Cuts Holdings in American International Group, Inc. $AIG

Key Points

• Candriam S.C.A. reduced its holdings in American International Group, Inc. (AIG) by 84.4%, selling 273,348 shares and retaining 50,371 shares valued at approximately $4.38 million.
• GQG Partners LLC significantly increased its stake in AIG by 33,315.0%, acquiring nearly 18.9 million shares, while other funds like Nuveen LLC and Raymond James also grew their positions in the company.
• AIG reported $1.81 earnings per share for the latest quarter, exceeding estimates, and announced a quarterly dividend of $0.45 per share, reflecting a dividend yield of 2.2%.

Candriam S.C.A. lessened its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 84.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,371 shares of the insurance provider's stock after selling 273,348 shares during the quarter. Candriam S.C.A.'s holdings in American International Group were worth $4,379,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ameriflex Group Inc. bought a new stake in American International Group during the fourth quarter valued at about $29,000. Sachetta LLC lifted its position in shares of American International Group by 194.5% during the first quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock valued at $33,000 after buying an additional 249 shares during the last quarter. Hemington Wealth Management boosted its holdings in shares of American International Group by 42.8% in the 1st quarter. Hemington Wealth Management now owns 474 shares of the insurance provider's stock valued at $41,000 after buying an additional 142 shares in the last quarter. NBC Securities Inc. purchased a new position in shares of American International Group in the 1st quarter worth approximately $47,000. Finally, SouthState Corp raised its stake in shares of American International Group by 798.5% during the 1st quarter. SouthState Corp now owns 584 shares of the insurance provider's stock worth $51,000 after acquiring an additional 519 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

AIG traded down $0.28 during trading on Wednesday, reaching $82.31. 4,490,779 shares of the company's stock were exchanged, compared to its average volume of 4,501,931. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63. American International Group, Inc. has a 1 year low of $69.24 and a 1 year high of $88.07. The company's fifty day simple moving average is $81.43 and its 200-day simple moving average is $81.76. The stock has a market capitalization of $45.60 billion, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 0.89 and a beta of 0.63.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $0.21. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.81 billion. American International Group had a net margin of 11.51% and a return on equity of 7.88%. During the same quarter in the prior year, the business earned $1.16 earnings per share. As a group, research analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AIG. Cantor Fitzgerald raised American International Group to a "hold" rating in a research report on Tuesday, August 12th. Barclays increased their price target on American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Wall Street Zen lowered American International Group from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Keefe, Bruyette & Woods cut their price objective on shares of American International Group from $97.00 to $91.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Finally, William Blair upgraded shares of American International Group to a "strong-buy" rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $88.27.

American International Group Company 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.