DRW Securities LLC Sells 65,395 Shares of American International Group, Inc. $AIG

Key Points

• DRW Securities LLC has significantly reduced its stake in American International Group, selling 65,395 shares and now owning 23,249 shares, valued at approximately $2,021,000.
• American International Group recently reported a quarterly EPS of $1.81, exceeding analysts' expectations, alongside a new quarterly dividend of $0.45 per share.
• Institutional investors hold a substantial 90.60% of American International Group's stock, reflecting strong institutional confidence in the company.

DRW Securities LLC lessened its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 73.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,249 shares of the insurance provider's stock after selling 65,395 shares during the quarter. DRW Securities LLC's holdings in American International Group were worth $2,021,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in AIG. Pinnacle Associates Ltd. boosted its holdings in shares of American International Group by 1.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 7,706 shares of the insurance provider's stock worth $670,000 after buying an additional 122 shares during the period. Miracle Mile Advisors LLC lifted its position in American International Group by 1.6% during the 1st quarter. Miracle Mile Advisors LLC now owns 8,094 shares of the insurance provider's stock worth $704,000 after acquiring an additional 124 shares during the last quarter. Western Pacific Wealth Management LP grew its position in shares of American International Group by 2.3% in the first quarter. Western Pacific Wealth Management LP now owns 5,673 shares of the insurance provider's stock valued at $493,000 after purchasing an additional 125 shares during the last quarter. Montag A & Associates Inc. increased its stake in shares of American International Group by 0.7% in the first quarter. Montag A & Associates Inc. now owns 17,788 shares of the insurance provider's stock worth $1,546,000 after purchasing an additional 130 shares during the period. Finally, Carnegie Investment Counsel lifted its position in shares of American International Group by 3.1% during the 1st quarter. Carnegie Investment Counsel now owns 4,311 shares of the insurance provider's stock worth $375,000 after purchasing an additional 131 shares during the last quarter. Institutional investors own 90.60% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Cantor Fitzgerald raised American International Group to a "hold" rating in a report on Tuesday, August 12th. Citigroup initiated 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 on the stock. Keefe, Bruyette & Woods dropped their target price on shares of American International Group from $97.00 to $91.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Wall Street Zen raised shares of American International Group from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, William Blair raised shares of American International Group to a "strong-buy" rating in a research report 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 given a Hold rating to the company's stock. 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 Price Performance

Shares of NYSE AIG traded up $0.24 during midday trading on Wednesday, reaching $81.29. 3,612,184 shares of the company traded hands, compared to its average volume of 3,539,591. The stock's 50-day simple moving average is $81.09 and its 200-day simple moving average is $81.96. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63. American International Group, Inc. has a 12 month low of $69.24 and a 12 month high of $88.07. The firm has a market cap of $45.04 billion, a PE ratio of 14.76, a PEG ratio of 0.87 and a beta of 0.70.

American International Group (NYSE:AIG - Get Free Report) last posted its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.21. The business 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 firm earned $1.16 EPS. As a group, equities analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid 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 2.2%. 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.