Korea Investment CORP Decreases Stock Holdings in American International Group, Inc. $AIG

Key Points

• Korea Investment CORP reduced its AIG stake by 14.7% in the second quarter, selling 99,960 shares and retaining 577,735 shares valued at approximately $43.1 million. Institutional investors collectively own 90.6% of the company.
• AIG reported quarterly EPS of $2.00, beating analysts’ $1.92 estimate, though revenue of $7.08 billion fell short of expectations. The company declared a quarterly dividend of $0.50, representing a 2.6% annualized yield.
• Analysts maintain a consensus “Hold” rating, with a consensus price target of $88.28 compared with the stock’s reported $76.30 price; seven analysts rate it a Buy and twelve rate it a Hold.

Korea Investment CORP lowered its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 14.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 577,735 shares of the insurance provider's stock after selling 99,960 shares during the period. Korea Investment CORP owned approximately 0.11% of American International Group worth $43,059,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Modus Advisors LLC purchased a new position in shares of American International Group during the fourth quarter valued at approximately $27,000. Navalign LLC bought a new position in American International Group during the fourth quarter valued at approximately $29,000. Mcguire Capital Advisors Inc. purchased a new stake in American International Group in the fourth quarter worth approximately $29,000. SHP Wealth Management bought a new stake in American International Group in the 4th quarter worth approximately $34,000. Finally, CENTRAL TRUST Co grew its position in American International Group by 48.7% in the 1st quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider's stock worth $35,000 after purchasing an additional 151 shares during the period. Hedge funds and other institutional investors own 90.60% of the company's stock.

American International Group Stock Up 0.7%

AIG stock opened at $76.30 on Friday. The business's 50-day moving average price is $77.69 and its 200-day moving average price is $76.96. The stock has a market cap of $39.90 billion, a P/E ratio of 13.95, a PEG ratio of 0.69 and a beta of 0.53. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a twelve month low of $71.25 and a twelve month high of $87.29.

American International Group (NYSE:AIG - Get Free Report) last released its earnings results on Thursday, August 6th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.08. American International Group had a net margin of 11.13% and a return on equity of 11.05%. The company had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.25 billion. During the same period in the prior year, the firm posted $1.81 EPS. On average, equities research analysts forecast that American International Group, Inc. will post 8.02 EPS for the current year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. American International Group's dividend payout ratio is 36.56%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AIG. Cantor Fitzgerald dropped their price target on American International Group from $92.00 to $90.00 and set an "overweight" rating on the stock in a research note on Monday, August 17th. Royal Bank Of Canada upped their price objective on American International Group from $85.00 to $87.00 and gave the company a "sector perform" rating in a research report on Monday, August 10th. Keefe, Bruyette & Woods increased their target price on American International Group from $95.00 to $96.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. boosted their price target on American International Group from $86.00 to $90.00 and gave the company a "neutral" rating in a research note on Monday, July 20th. Finally, Barclays upped their price target on shares of American International Group from $80.00 to $81.00 and gave the company an "equal weight" rating in a research report on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $88.28.

Insider Activity at American International Group

In other news, insider Peter Zaffino sold 36,829 shares of the firm's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $76.14, for a total transaction of $2,804,160.06. Following the sale, the insider directly owned 556,004 shares in the company, valued at $42,334,144.56. This trade represents a 6.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by insiders.

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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