Jupiter Asset Management Ltd. Sells 111,016 Shares of American International Group, Inc. $AIG

Key Points

• Jupiter Asset Management trimmed its AIG stake by 6.9% in the fourth quarter, selling 111,016 shares and leaving it with 1,504,602 shares worth about $128.7 million.
• AIG beat earnings expectations in its latest quarter, reporting $2.11 EPS versus the $1.89 consensus, though revenue came in below analyst estimates at $6.65 billion.
• The company also raised its quarterly dividend to $0.50 per share from $0.45, while analysts currently rate the stock a consensus Hold with an average price target of $88.06.

Jupiter Asset Management Ltd. reduced its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 6.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,504,602 shares of the insurance provider's stock after selling 111,016 shares during the quarter. American International Group makes up about 1.0% of Jupiter Asset Management Ltd.'s portfolio, making the stock its 16th biggest holding. Jupiter Asset Management Ltd. owned 0.28% of American International Group worth $128,719,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in AIG. AlphaQuest LLC bought a new stake in shares of American International Group during the 3rd quarter valued at $2,724,000. Caprock Group LLC bought a new stake in shares of American International Group during the 3rd quarter valued at $3,054,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of American International Group during the 3rd quarter valued at $2,257,000. Diamond Hill Capital Management Inc. lifted its position in shares of American International Group by 4.3% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 12,111,405 shares of the insurance provider's stock valued at $951,230,000 after acquiring an additional 499,330 shares during the period. Finally, Nordea Investment Management AB lifted its position in shares of American International Group by 129.9% during the 4th quarter. Nordea Investment Management AB now owns 136,069 shares of the insurance provider's stock valued at $11,695,000 after acquiring an additional 76,874 shares during the period. 90.60% of the stock is currently owned by institutional investors.

American International Group Price Performance

Shares of AIG opened at $74.33 on Friday. American International Group, Inc. has a 12-month low of $71.25 and a 12-month high of $87.46. The business has a 50-day simple moving average of $76.13 and a two-hundred day simple moving average of $77.59. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23. The stock has a market cap of $39.41 billion, a PE ratio of 13.11, a PEG ratio of 0.69 and a beta of 0.53.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.22. The company had revenue of $6.65 billion during the quarter, compared to analysts' expectations of $7.03 billion. American International Group had a return on equity of 10.93% and a net margin of 11.86%.During the same quarter in the prior year, the firm posted $1.17 earnings per share. Analysts anticipate that American International Group, Inc. will post 7.97 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. Stockholders of record on Monday, June 15th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 15th. This is a positive change from American International Group's previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 2.7%. American International Group's payout ratio is currently 31.75%.

Analyst Upgrades and Downgrades

AIG has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on American International Group from $97.00 to $86.00 and set a "neutral" rating for the company in a report on Monday, April 20th. Bank of America decreased their price target on shares of American International Group from $80.00 to $79.00 and set a "neutral" rating on the stock in a report on Tuesday, April 14th. Barclays upped their target price on American International Group from $78.00 to $80.00 and gave the stock an "equal weight" rating in a report on Friday, May 1st. Morgan Stanley lowered their target price on American International Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a report on Monday, April 6th. Finally, Wells Fargo & Company lowered their target price on American International Group from $86.00 to $85.00 and set an "equal weight" rating for the company in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat.com, American International Group currently has a consensus rating of "Hold" and an average target price of $88.06.

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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