American International Group, Inc. (NYSE:AIG) Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in American International Group (AIG) by 2.1%, selling 91,583 shares to hold a total of 4,260,797 shares valued at approximately $370.4 million.
• Recent analyst ratings show a positive outlook for AIG, with several firms increasing their price targets, including Morgan Stanley who raised theirs from $81.00 to $85.00.
• AIG has declared a quarterly dividend of $0.45 per share, which translates to an annualized dividend yield of 2.3%.

Charles Schwab Investment Management Inc. decreased its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 2.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,260,797 shares of the insurance provider's stock after selling 91,583 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.72% of American International Group worth $370,434,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AIG. Brighton Jones LLC purchased a new position in shares of American International Group in the 4th quarter worth approximately $1,091,000. FIL Ltd boosted its holdings in shares of American International Group by 59.6% in the 4th quarter. FIL Ltd now owns 198,132 shares of the insurance provider's stock worth $14,424,000 after purchasing an additional 73,989 shares during the period. Treasurer of the State of North Carolina boosted its holdings in shares of American International Group by 2.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 293,073 shares of the insurance provider's stock worth $21,336,000 after purchasing an additional 5,710 shares during the period. Argent Trust Co boosted its holdings in shares of American International Group by 2.8% in the 4th quarter. Argent Trust Co now owns 28,086 shares of the insurance provider's stock worth $2,045,000 after purchasing an additional 760 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of American International Group by 1.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 31,151 shares of the insurance provider's stock worth $2,268,000 after acquiring an additional 554 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company raised their price target on American International Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. William Blair raised American International Group to a "strong-buy" rating in a research note on Friday, August 1st. Wall Street Zen raised American International Group from a "hold" rating to a "buy" rating in a research note on Saturday. Keefe, Bruyette & Woods decreased their price target on American International Group from $97.00 to $91.00 and set an "outperform" rating for the company in a research note on Tuesday. Finally, Morgan Stanley lifted their target price 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. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $87.93.

American International Group Stock Down 0.2%

Shares of NYSE:AIG traded down $0.13 on Tuesday, reaching $78.50. The company had a trading volume of 4,614,605 shares, compared to its average volume of 4,586,095. American International Group, Inc. has a 52-week low of $69.24 and a 52-week high of $88.07. The firm's 50 day simple moving average is $82.29 and its 200-day simple moving average is $81.28. The firm has a market capitalization of $43.49 billion, a PE ratio of 14.87, a PEG ratio of 0.85 and a beta of 0.63. 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 (NYSE:AIG - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.21. American International Group had a return on equity of 7.88% and a net margin of 11.51%. The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period last year, the business posted $1.16 EPS. As a group, analysts expect 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 declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.3%. American International Group's dividend payout ratio (DPR) is currently 34.09%.

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.