Hotchkis & Wiley Capital Management LLC Buys 1,694,290 Shares of American International Group, Inc. $AIG

Key Points

• Hotchkis & Wiley Capital Management LLC increased its holdings in American International Group, Inc. by 22.8% during the first quarter, making AIG its 5th largest position with 9,113,636 shares.
• AIG recently announced a quarterly dividend of $0.45 per share, translating to an annualized yield of 2.2%, with a payout ratio of 34.09%.
• Analysts have a consensus rating of "Moderate Buy" for AIG, with a price target averaging $88.27, following various recent upgrades and coverage initiations.

Hotchkis & Wiley Capital Management LLC boosted its position in American International Group, Inc. (NYSE:AIG - Free Report) by 22.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,113,636 shares of the insurance provider's stock after purchasing an additional 1,694,290 shares during the period. American International Group comprises approximately 2.6% of Hotchkis & Wiley Capital Management LLC's holdings, making the stock its 5th largest position. Hotchkis & Wiley Capital Management LLC owned about 1.58% of American International Group worth $792,340,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. GQG Partners LLC lifted its position in shares of American International Group by 33,315.0% during the 1st quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider's stock valued at $1,643,995,000 after acquiring an additional 18,852,949 shares during the period. Nuveen LLC acquired a new stake in shares of American International Group during the 1st quarter valued at approximately $440,273,000. Raymond James Financial Inc. lifted its position in shares of American International Group by 151.6% during the 1st quarter. Raymond James Financial Inc. now owns 3,285,963 shares of the insurance provider's stock valued at $285,682,000 after acquiring an additional 1,980,001 shares during the period. Bank of New York Mellon Corp lifted its position in shares of American International Group by 20.4% during the 1st quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider's stock valued at $974,840,000 after acquiring an additional 1,901,998 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of American International Group during the 4th quarter valued at approximately $135,325,000. Institutional investors and hedge funds own 90.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AIG. Wells Fargo & Company lifted their price target on shares of American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Cantor Fitzgerald raised shares of American International Group to a "hold" rating in a research note on Tuesday, August 12th. Barclays raised their price objective on shares of American International Group from $92.00 to $93.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Keefe, Bruyette & Woods dropped 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 note on Tuesday, August 12th. Finally, Cfra Research raised shares of American International Group to a "moderate buy" rating in a research note on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, American International Group presently has an average rating of "Moderate Buy" and a consensus target price of $88.27.

American International Group Trading Down 0.3%

AIG stock traded down $0.28 during midday trading on Wednesday, hitting $82.31. The stock had a trading volume of 4,508,327 shares, compared to its average volume of 4,509,099. The firm has a market cap of $45.60 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 0.89 and a beta of 0.63. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick 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 company's 50-day moving average price is $81.43 and its 200 day moving average price is $81.76.

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 company 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 last year, the business earned $1.16 EPS. On average, equities research analysts predict 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. Shareholders of record on Tuesday, September 16th will be issued 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 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.