Invesco Ltd. Sells 248,418 Shares of American International Group, Inc. $AIG

Key Points

• Invesco Ltd. trimmed its AIG stake by 1.4%, selling 248,418 shares in Q3 and now holds 17,164,849 shares (about 3.18% of the company) valued at roughly $1.348 billion.
• Wall Street's consensus rating for AIG is a Hold with an average target of $88.22, though Goldman Sachs recently upgraded the stock to a Buy with a $90 target.
• AIG beat quarterly EPS estimates ($1.96 vs. $1.90) but missed revenue expectations, and declared a quarterly dividend of $0.45 (annualized $1.80), implying a ~2.4% yield with an ex-dividend date of March 16.

Invesco Ltd. reduced its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,164,849 shares of the insurance provider's stock after selling 248,418 shares during the quarter. Invesco Ltd. owned about 3.18% of American International Group worth $1,348,127,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Brighton Jones LLC bought a new stake in American International Group in the fourth quarter valued at approximately $1,091,000. Sivia Capital Partners LLC boosted its position in shares of American International Group by 30.7% during the second quarter. Sivia Capital Partners LLC now owns 5,050 shares of the insurance provider's stock worth $432,000 after purchasing an additional 1,185 shares in the last quarter. Vestmark Advisory Solutions Inc. bought a new position in shares of American International Group during the second quarter worth $327,000. AE Wealth Management LLC grew its holdings in shares of American International Group by 13.3% in the 2nd quarter. AE Wealth Management LLC now owns 3,652 shares of the insurance provider's stock valued at $313,000 after buying an additional 429 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of American International Group in the 2nd quarter valued at $599,000. 90.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AIG. Royal Bank Of Canada initiated coverage on American International Group in a research note on Tuesday, November 25th. They set a "sector perform" rating and a $85.00 price objective on the stock. The Goldman Sachs Group raised American International Group from a "neutral" rating to a "buy" rating and set a $90.00 target price for the company in a research note on Thursday, March 5th. Barclays lowered their price target on American International Group from $81.00 to $79.00 and set an "equal weight" rating for the company in a report on Wednesday, February 11th. Piper Sandler cut their price objective on American International Group from $95.00 to $88.00 and set an "overweight" rating on the stock in a report on Thursday, February 12th. Finally, UBS Group decreased their price objective on American International Group from $94.00 to $92.00 and set a "buy" rating for the company in a research report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $88.22.

American International Group Price Performance

Shares of NYSE AIG opened at $76.39 on Friday. The firm has a market cap of $40.99 billion, a PE ratio of 14.09, a PEG ratio of 0.60 and a beta of 0.58. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 1-year low of $71.25 and a 1-year high of $88.07. The company has a fifty day moving average price of $76.86 and a 200 day moving average price of $78.81.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings results on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.06. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.99 billion. American International Group had a return on equity of 9.79% and a net margin of 11.56%.During the same quarter last year, the business posted $1.30 EPS. 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be issued a dividend of $0.45 per share. The ex-dividend date is Monday, March 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.4%. American International Group's dividend payout ratio (DPR) is presently 33.21%.

American International Group Company Profile

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.

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