Ethic Inc. Lowers Stock Position in American International Group, Inc. $AIG

Key Points

• Ethic Inc. has decreased its stake in American International Group, Inc. (AIG) by 5.9%, selling 9,141 shares and bringing its total holdings to 144,913 shares worth approximately $12.58 million.
• In the first quarter, several hedge funds significantly increased their positions in AIG, with GQG Partners LLC raising its stake by an astonishing 33,315% to hold over 18.9 million shares.
• AIG reported $1.81 earnings per share in its latest quarterly results, exceeding analysts' expectations, although its revenue of $6.77 billion fell short of the forecast of $6.81 billion.

Ethic Inc. decreased its position in American International Group, Inc. (NYSE:AIG - Free Report) by 5.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 144,913 shares of the insurance provider's stock after selling 9,141 shares during the period. Ethic Inc.'s holdings in American International Group were worth $12,580,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brandywine Global Investment Management LLC raised its holdings in American International Group by 3.5% in the 1st quarter. Brandywine Global Investment Management LLC now owns 289,348 shares of the insurance provider's stock worth $25,156,000 after purchasing an additional 9,905 shares during the period. Aberdeen Group plc raised its holdings in American International Group by 68.3% in the 1st quarter. Aberdeen Group plc now owns 456,972 shares of the insurance provider's stock worth $39,492,000 after purchasing an additional 185,400 shares during the period. GQG Partners LLC raised its holdings in American International Group by 33,315.0% in the 1st quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider's stock worth $1,643,995,000 after purchasing an additional 18,852,949 shares during the period. Financial Network Wealth Advisors LLC raised its holdings in American International Group by 30.4% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 618 shares of the insurance provider's stock worth $54,000 after purchasing an additional 144 shares during the period. Finally, National Pension Service raised its holdings in American International Group by 3.4% in the 1st quarter. National Pension Service now owns 1,466,153 shares of the insurance provider's stock worth $127,467,000 after purchasing an additional 48,417 shares during the period. Hedge funds and other institutional investors own 90.60% of the company's stock.

American International Group Price Performance

Shares of NYSE AIG traded up $0.98 during mid-day trading on Wednesday, reaching $82.27. The company's stock had a trading volume of 1,143,644 shares, compared to its average volume of 4,524,761. The stock has a 50-day moving average of $81.64 and a two-hundred day moving average of $81.45. The stock has a market capitalization of $45.58 billion, a P/E ratio of 15.59, a P/E/G ratio of 0.86 and a beta of 0.63. 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 1-year low of $69.24 and a 1-year high of $88.07.

American International Group (NYSE:AIG - Get Free Report) last issued 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. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The business had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.81 billion. During the same period in the prior year, the business earned $1.16 earnings per share. On average, equities research analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $0.45 dividend. The ex-dividend date of this dividend 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 is currently 34.09%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Barclays upped their price target on American International Group from $92.00 to $93.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Keefe, Bruyette & Woods reduced their price objective on shares of American International Group from $97.00 to $91.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. 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 price objective for the company. Wells Fargo & Company upped their price objective on shares of American International Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Finally, Cantor Fitzgerald upgraded shares of American International Group to a "hold" rating in a research report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company currently 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.