Intech Investment Management LLC Sells 22,281 Shares of American International Group, Inc. $AIG

Key Points

• Intech Investment Management LLC reduced its holdings in American International Group (AIG) by 37.6%, selling 22,281 shares to hold a total of 36,953 shares worth approximately $3.21 million.
• AIG recently reported $1.81 earnings per share for the last quarter, exceeding expectations, but its revenue of $6.77 billion fell slightly short of the analyst estimates of $6.81 billion.
• The company declared a quarterly dividend of $0.45 per share, with a dividend yield of 2.3%, scheduled to be paid on September 30 to shareholders on record as of September 16.

Intech Investment Management LLC lessened its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 37.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,953 shares of the insurance provider's stock after selling 22,281 shares during the period. Intech Investment Management LLC's holdings in American International Group were worth $3,213,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in AIG. Sachetta LLC lifted its stake in American International Group by 194.5% during the first quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock worth $33,000 after purchasing an additional 249 shares during the last quarter. Ameriflex Group Inc. bought a new stake in shares of American International Group in the 4th quarter worth approximately $29,000. Hemington Wealth Management grew its holdings in shares of American International Group by 42.8% during the 1st quarter. Hemington Wealth Management now owns 474 shares of the insurance provider's stock valued at $41,000 after purchasing an additional 142 shares during the last quarter. WPG Advisers LLC purchased a new position in American International Group in the 1st quarter worth $47,000. Finally, NBC Securities Inc. bought a new stake in American International Group in the first quarter worth $47,000. Hedge funds and other institutional investors own 90.60% of the company's stock.

American International Group Stock Up 0.2%

NYSE:AIG opened at $78.90 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63. The firm's 50-day moving average price is $80.34 and its 200-day moving average price is $82.11. The company has a market capitalization of $43.71 billion, a PE ratio of 14.94, a P/E/G ratio of 0.84 and a beta of 0.70. 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 released its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.21. The firm had revenue of $6.77 billion during 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 period last year, the business earned $1.16 earnings per share. On average, equities analysts predict that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. American International Group's dividend payout ratio is presently 34.09%.

Analyst Upgrades and Downgrades

AIG has been the subject of a number of analyst reports. Keefe, Bruyette & Woods dropped their price objective on 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. Morgan Stanley increased their price target on shares of American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Cantor Fitzgerald raised shares of American International Group to a "hold" rating in a research note on Tuesday, August 12th. William Blair raised American International Group to a "strong-buy" rating in a research note on Friday, August 1st. Finally, Cfra Research upgraded American International Group to a "moderate buy" rating in a report on Monday, August 11th. Two investment 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's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average 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.

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