Mizuho Securities USA LLC Reduces Holdings in American International Group, Inc. (NYSE:AIG)

Key Points

• Mizuho Securities USA LLC reduced its holdings in American International Group, Inc. by 19.6%, owning 47,508 shares valued at approximately $4.13 million at the end of the last quarter.
• Several analysts have raised their price targets and ratings for American International Group, with a consensus target price now at $88.33 and a consensus rating of "Moderate Buy".
• The company declared a quarterly dividend of $0.45 per share, with an annualized payout of $1.80, representing a dividend yield of 2.3%.

Mizuho Securities USA LLC trimmed its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 19.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,508 shares of the insurance provider's stock after selling 11,611 shares during the period. Mizuho Securities USA LLC's holdings in American International Group were worth $4,130,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Frank Rimerman Advisors LLC purchased a new position in shares of American International Group in the 1st quarter valued at $357,000. Zions Bancorporation National Association UT purchased a new position in shares of American International Group in the 1st quarter valued at $515,000. Townsquare Capital LLC grew its position in shares of American International Group by 5.4% in the 1st quarter. Townsquare Capital LLC now owns 115,129 shares of the insurance provider's stock valued at $10,009,000 after buying an additional 5,899 shares during the last quarter. AlphaCore Capital LLC grew its position in shares of American International Group by 7.0% in the 1st quarter. AlphaCore Capital LLC now owns 13,208 shares of the insurance provider's stock valued at $1,148,000 after buying an additional 859 shares during the last quarter. Finally, Fayez Sarofim & Co purchased a new position in shares of American International Group in the 1st quarter valued at $219,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on AIG. Wall Street Zen raised shares of American International Group from a "hold" rating to a "buy" rating in a research report on Saturday. William Blair raised shares of American International Group to a "strong-buy" rating in a research report on Friday, August 1st. Barclays raised their price objective on shares of American International Group from $92.00 to $93.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Morgan Stanley raised their price objective on shares of American International Group from $81.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of American International Group from $94.00 to $97.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.33.

American International Group Stock Performance

NYSE:AIG opened at $78.12 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $82.43 and a two-hundred day moving average price of $81.20. American International Group, Inc. has a twelve month low of $69.24 and a twelve month high of $88.07. The company has a market capitalization of $45.02 billion, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 0.85 and a beta of 0.63.

American International Group (NYSE:AIG - Get Free Report) last posted its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.21. American International Group had a net margin of 11.51% and a return on equity of 7.81%. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same period last year, the firm posted $1.16 EPS. As a group, research analysts expect 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 declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.45 per share. The ex-dividend date is Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. American International Group's payout ratio is 34.09%.

American International Group 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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