Kingsview Wealth Management LLC Reduces Holdings in American International Group, Inc. $AIG

Key Points

• Kingsview Wealth Management cut its AIG stake by 82.4% in the fourth quarter, selling 35,073 shares and leaving it with 7,487 shares worth about $641,000.
• AIG reported stronger-than-expected earnings for the latest quarter, posting $2.11 EPS versus the $1.89 consensus, even though revenue came in below estimates.
• The company also raised its quarterly dividend to $0.50 per share from $0.45, while analysts currently maintain a Hold consensus with an average price target of $88.06.

Kingsview Wealth Management LLC reduced its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 82.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,487 shares of the insurance provider's stock after selling 35,073 shares during the period. Kingsview Wealth Management LLC's holdings in American International Group were worth $641,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AIG. Capital Research Global Investors increased its stake in shares of American International Group by 79.6% in the 3rd quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider's stock worth $2,241,091,000 after purchasing an additional 12,645,616 shares in the last quarter. Vanguard Group Inc. lifted its position 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 valued at $5,378,635,000 after purchasing an additional 7,117,583 shares in the last quarter. Wellington Management Group LLP grew its holdings 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 valued at $2,045,657,000 after purchasing an additional 1,899,203 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in American International Group by 22.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider's stock worth $805,529,000 after buying an additional 1,846,979 shares in the last quarter. Finally, Viking Global Investors LP purchased a new stake in American International Group in the second quarter worth about $155,413,000. 90.60% of the stock is currently owned by institutional investors.

American International Group Stock Performance

AIG opened at $73.84 on Wednesday. The stock has a market capitalization of $39.15 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 0.67 and a beta of 0.52. The company has a fifty day moving average of $76.12 and a 200 day moving average of $77.55. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.46. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, topping the consensus estimate of $1.89 by $0.22. American International Group had a net margin of 11.86% and a return on equity of 10.93%. The business had revenue of $6.65 billion for the quarter, compared to analysts' expectations of $7.03 billion. During the same quarter in the previous year, the company earned $1.17 EPS. As a group, sell-side analysts forecast that American International Group, Inc. will post 7.97 earnings per share for the current fiscal year.

American International Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be given a $0.50 dividend. This is an increase from American International Group's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Monday, June 15th. American International Group's dividend payout ratio (DPR) is presently 31.75%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Morgan Stanley reduced their target price on shares of 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. Wells Fargo & Company dropped their price target on shares of American International Group from $86.00 to $85.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 6th. The Goldman Sachs Group increased their price objective on shares of American International Group from $87.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. Keefe, Bruyette & Woods raised their price objective on shares of American International Group from $97.00 to $98.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. Finally, BMO Capital Markets lifted their target price on shares of American International Group from $83.00 to $89.00 in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, American International Group currently has a consensus rating of "Hold" and an average price target of $88.06.

American International Group 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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