Lecap Asset Management Ltd. Sells 16,806 Shares of American International Group, Inc. $AIG

Key Points

• Lecap Asset Management Ltd. significantly reduced its stake in American International Group, Inc. by 80.1%, selling 16,806 shares and retaining only 4,163 shares worth approximately $356,000.
• American International Group reported earnings of $1.81 per share, surpassing analysts' expectations, while generating $6.77 billion in revenue for the quarter.
• The company declared a quarterly dividend of $0.45 per share, yielding 2.2%, with a payout ratio of 34.09%.

Lecap Asset Management Ltd. reduced its position in American International Group, Inc. (NYSE:AIG - Free Report) by 80.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,163 shares of the insurance provider's stock after selling 16,806 shares during the quarter. Lecap Asset Management Ltd.'s holdings in American International Group were worth $356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC purchased a new stake in American International Group in the 4th quarter worth $1,091,000. NBC Securities Inc. bought a new position in shares of American International Group in the first quarter worth about $47,000. RFG Advisory LLC bought a new stake in American International Group during the 1st quarter valued at approximately $217,000. Curat Global LLC purchased a new position in American International Group in the 1st quarter worth approximately $334,000. Finally, Stablepoint Partners LLC boosted its stake in American International Group by 6.2% in the 1st quarter. Stablepoint Partners LLC now owns 19,067 shares of the insurance provider's stock worth $1,658,000 after purchasing an additional 1,111 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Stock Up 1.8%

Shares of NYSE AIG opened at $81.05 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 12-month low of $69.24 and a 12-month high of $88.07. The firm's 50-day moving average price is $79.30 and its 200-day moving average price is $81.70. The stock has a market capitalization of $44.90 billion, a price-to-earnings ratio of 15.35, a P/E/G ratio of 0.85 and a beta of 0.68.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.21. American International Group had a return on equity of 7.88% and a net margin of 11.51%.The company had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.81 billion. During the same period in the previous year, the firm posted $1.16 earnings per share. On average, equities research analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.2%. The ex-dividend date was Tuesday, September 16th. American International Group's dividend payout ratio is presently 34.09%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AIG. Evercore ISI lifted their price objective on shares of American International Group from $89.00 to $90.00 and gave the company an "in-line" rating in a research report on Wednesday. Wall Street Zen upgraded shares of American International Group from a "hold" rating to a "buy" rating in a report on Friday. Piper Sandler dropped their price objective on shares of American International Group from $96.00 to $88.00 and set an "overweight" rating for the company in a report on Thursday. Keefe, Bruyette & Woods reduced their target price on American International Group from $97.00 to $91.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of American International Group in a research note on Saturday, September 27th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, American International Group presently has an average rating of "Moderate Buy" and a consensus target price of $88.31.

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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