Mutual of America Capital Management LLC Trims Stock Holdings in American International Group, Inc. (NYSE:AIG)

Key Points

• Mutual of America Capital Management LLC reduced its holdings in American International Group, Inc. (AIG) by 7.7%, owning 69,003 shares valued at approximately $6 million after selling 5,723 shares.
• Wall Street analysts have recently raised price targets for AIG, with Barclays increasing their price objective to $93 and Jefferies Financial Group raising theirs to $95, reflecting a generally positive outlook on the stock.
• AIG announced a quarterly dividend of $0.45 per share with a yield of 2.4%, set to be paid on September 30th to shareholders of record on September 16th.

Mutual of America Capital Management LLC reduced its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 7.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,003 shares of the insurance provider's stock after selling 5,723 shares during the period. Mutual of America Capital Management LLC's holdings in American International Group were worth $5,999,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Ameriflex Group Inc. purchased a new position in shares of American International Group in the fourth quarter worth $29,000. NBC Securities Inc. bought a new stake in American International Group in the 1st quarter worth $47,000. Colonial Trust Co SC increased its position in shares of American International Group by 150.2% in the fourth quarter. Colonial Trust Co SC now owns 738 shares of the insurance provider's stock valued at $54,000 after acquiring an additional 443 shares during the period. True Wealth Design LLC raised its stake in shares of American International Group by 159.6% during the fourth quarter. True Wealth Design LLC now owns 1,041 shares of the insurance provider's stock valued at $76,000 after acquiring an additional 640 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of American International Group by 359.9% during the first quarter. Versant Capital Management Inc now owns 1,113 shares of the insurance provider's stock valued at $97,000 after acquiring an additional 871 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Stock Up 2.0%

American International Group stock traded up $1.52 during mid-day trading on Friday, hitting $78.12. The company had a trading volume of 4,170,729 shares, compared to its average volume of 4,459,343. American International Group, Inc. has a 12 month low of $69.24 and a 12 month high of $88.07. The company has a market capitalization of $45.02 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 0.84 and a beta of 0.63. The stock's 50 day moving average price is $82.43 and its two-hundred day moving average price is $81.16. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.21.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $0.21. The company had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.81 billion. American International Group had a net margin of 11.51% and a return on equity of 7.81%. During the same quarter in the previous year, the business posted $1.16 EPS. As a group, sell-side analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. American International Group's payout ratio is 34.09%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Jefferies Financial Group boosted their price target on American International Group from $90.00 to $95.00 and gave the company a "buy" rating in a report on Friday, April 11th. William Blair raised American International Group to a "strong-buy" rating in a research note on Friday, August 1st. Keefe, Bruyette & Woods raised their price target on American International Group from $94.00 to $97.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Wells Fargo & Company lifted their price target on shares of American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Finally, Barclays upped their price objective on shares of American International Group from $92.00 to $93.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, American International Group currently has a consensus rating of "Moderate Buy" and an average target price of $88.33.

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.