Comerica Bank Has $14.70 Million Stock Position in American International Group, Inc. $AIG

Key Points

• Comerica Bank reduced its holdings in American International Group, Inc. (AIG) by 11.3%, owning 169,039 shares valued at approximately $14.7 million after selling 21,595 shares in Q1.
• AIG's quarterly earnings exceeded analysts' expectations with earnings per share of $1.81, beating the consensus estimate of $1.60, while revenue fell slightly short at $6.77 billion.
• The company announced a quarterly dividend of $0.45 per share, resulting in an annualized dividend of $1.80, which yields 2.2% based on current stock prices.

Comerica Bank decreased its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 11.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 169,039 shares of the insurance provider's stock after selling 21,595 shares during the quarter. Comerica Bank's holdings in American International Group were worth $14,696,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in AIG. Brighton Jones LLC acquired a new position in shares of American International Group in the 4th quarter valued at $1,091,000. Boothbay Fund Management LLC increased its position in shares of American International Group by 89.7% during the 4th quarter. Boothbay Fund Management LLC now owns 12,837 shares of the insurance provider's stock worth $935,000 after purchasing an additional 6,069 shares in the last quarter. Quarry LP increased its position in shares of American International Group by 282.4% during the 4th quarter. Quarry LP now owns 6,689 shares of the insurance provider's stock worth $487,000 after purchasing an additional 4,940 shares in the last quarter. Optiver Holding B.V. increased its position in shares of American International Group by 330.8% during the 4th quarter. Optiver Holding B.V. now owns 1,891 shares of the insurance provider's stock worth $138,000 after purchasing an additional 1,452 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of American International Group by 2.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 811,188 shares of the insurance provider's stock worth $59,054,000 after purchasing an additional 19,007 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company's stock.

American International Group Trading Down 0.3%

Shares of NYSE:AIG traded down $0.23 during mid-day trading on Friday, reaching $81.37. The stock had a trading volume of 4,039,872 shares, compared to its average volume of 4,498,745. The firm has a market cap of $45.08 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 0.88 and a beta of 0.63. The firm has a 50 day simple moving average of $81.34 and a two-hundred day simple moving average of $81.81. 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 twelve month low of $69.24 and a twelve month high of $88.07.

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 for the quarter, beating analysts' consensus estimates of $1.60 by $0.21. The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate 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 period last year, the company posted $1.16 EPS. On average, research analysts predict that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

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

Analyst Upgrades and Downgrades

AIG has been the subject of a number of recent analyst reports. William Blair upgraded shares of American International Group to a "strong-buy" rating in a research report on Friday, August 1st. Barclays increased their target price on shares of American International Group from $92.00 to $93.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Citigroup started coverage on shares of American International Group in a research report on Wednesday, August 13th. They set a "neutral" rating and a $85.00 target price for the company. Cfra Research raised shares of American International Group to a "moderate buy" rating in a report on Monday, August 11th. Finally, Wall Street Zen lowered shares of American International Group from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus 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.