Hosking Partners LLP Sells 132,327 Shares of American International Group, Inc. $AIG

Key Points

• Hosking Partners LLP cut its AIG stake by 11.8% in the fourth quarter, selling 132,327 shares and leaving it with 990,228 shares valued at about $84.7 million.
• AIG reported stronger-than-expected quarterly earnings, posting $2.11 EPS versus the $1.89 consensus estimate, while revenue came in roughly in line at $7.02 billion.
• The company raised its dividend to $0.50 per share from $0.45, which puts the annualized payout at $2.00 and the yield at about 2.6%.

Hosking Partners LLP lessened its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 11.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 990,228 shares of the insurance provider's stock after selling 132,327 shares during the quarter. American International Group makes up approximately 2.9% of Hosking Partners LLP's investment portfolio, making the stock its 6th largest position. Hosking Partners LLP owned approximately 0.18% of American International Group worth $84,714,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Research Global Investors boosted its stake in shares of American International Group by 79.6% in the third quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider's stock valued at $2,241,091,000 after buying an additional 12,645,616 shares during the period. Vanguard Group Inc. lifted its stake in American International Group by 11.6% during the third quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider's stock worth $5,378,635,000 after purchasing an additional 7,117,583 shares during the last quarter. Wellington Management Group LLP lifted its stake in American International Group by 7.9% during the third quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider's stock worth $2,045,657,000 after purchasing an additional 1,899,203 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of American International Group by 22.0% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider's stock valued at $805,529,000 after acquiring an additional 1,846,979 shares during the last quarter. Finally, Viking Global Investors LP bought a new position in shares of American International Group in the 2nd quarter valued at $155,413,000. Institutional investors and hedge funds own 90.60% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AIG. BMO Capital Markets raised their target price on American International Group from $83.00 to $89.00 in a research report on Thursday. UBS Group upped their price target on American International Group from $92.00 to $94.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Bank of America reduced their price target on American International Group from $80.00 to $79.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 14th. Cantor Fitzgerald upped their price target on American International Group from $81.00 to $85.00 and gave the company a "neutral" rating in a research report on Monday, May 4th. Finally, JPMorgan Chase & Co. reduced their price target on American International Group from $97.00 to $86.00 and set a "neutral" rating on the stock in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, American International Group has a consensus rating of "Hold" and a consensus price target of $88.06.

American International Group Price Performance

Shares of NYSE AIG opened at $76.30 on Monday. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.46. The firm's 50-day simple moving average is $76.70 and its 200 day simple moving average is $77.77. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market cap of $40.45 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 0.73 and a beta of 0.53.

American International Group (NYSE:AIG - Get Free Report) last posted its earnings results on Thursday, April 30th. The insurance provider reported $2.11 EPS for the quarter, topping the consensus estimate of $1.89 by $0.22. The firm had revenue of $7.02 billion for the quarter, compared to analysts' expectations of $7.03 billion. American International Group had a net margin of 11.86% and a return on equity of 10.93%. During the same quarter last year, the firm earned $1.17 EPS. As a group, research analysts anticipate that American International Group, Inc. will post 7.95 earnings per share for the current fiscal year.

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be issued a $0.50 dividend. This is a boost from American International Group's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. American International Group's payout ratio is presently 31.75%.

About American International Group

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.