National Pension Service Acquires 27,811 Shares of American International Group, Inc. $AIG

Key Points

• National Pension Service increased its AIG stake by 2.9% in the second quarter, adding 27,811 shares to hold 975,442 shares valued at approximately $72.7 million. Institutional investors collectively own 90.6% of AIG.
• AIG reported quarterly EPS of $2.00, exceeding analyst expectations of $1.92, though revenue of $7.08 billion fell short of the $7.25 billion estimate. Analysts maintain a consensus “Hold” rating with an average price target of $88.37.
• AIG declared a quarterly dividend of $0.50 per share, equivalent to a 2.7% annualized yield, while CEO Peter Zaffino sold 36,829 shares under a pre-arranged Rule 10b5-1 trading plan.

National Pension Service grew its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 2.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 975,442 shares of the insurance provider's stock after buying an additional 27,811 shares during the quarter. National Pension Service owned 0.19% of American International Group worth $72,700,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. California State Teachers Retirement System boosted its stake in American International Group by 6,834.8% during the 2nd quarter. California State Teachers Retirement System now owns 65,677,774 shares of the insurance provider's stock valued at $4,894,964,000 after purchasing an additional 64,730,704 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of American International Group by 6.9% in the second quarter. Wellington Management Group LLP now owns 30,331,704 shares of the insurance provider's stock worth $2,260,622,000 after purchasing an additional 1,961,270 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of American International Group by 39.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider's stock worth $1,400,613,000 after purchasing an additional 4,661,246 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of American International Group by 36.9% in the fourth quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider's stock valued at $1,336,147,000 after purchasing an additional 4,210,363 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of 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 valued at $805,529,000 after purchasing an additional 1,846,979 shares in the last quarter. 90.60% of the stock is owned by institutional investors.

American International Group Stock Performance

Shares of American International Group stock opened at $75.33 on Friday. The business's fifty day simple moving average is $77.79 and its 200 day simple moving average is $76.84. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $87.29. The firm has a market capitalization of $39.39 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 0.84 and a beta of 0.50.

American International Group (NYSE:AIG - Get Free Report) last announced its earnings results on Friday, August 7th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.08. The firm had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.25 billion. American International Group had a return on equity of 11.05% and a net margin of 11.13%.During the same period last year, the firm posted $1.81 EPS. As a group, analysts anticipate that American International Group, Inc. will post 8.02 EPS for the current year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Wednesday, September 16th. American International Group's dividend payout ratio (DPR) is 36.56%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods upped their price target on American International Group from $95.00 to $96.00 and gave the stock an "outperform" rating in a report on Tuesday, August 11th. Morgan Stanley dropped their price objective on American International Group from $82.00 to $81.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 12th. The Goldman Sachs Group lifted their price objective on shares of American International Group from $85.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, July 1st. UBS Group upped their target price on shares of American International Group from $94.00 to $98.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings upgraded shares of American International Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 2nd. Eight investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, American International Group presently has an average rating of "Hold" and a consensus target price of $88.37.

Insider Buying and Selling

In other American International Group news, insider Peter Zaffino sold 36,829 shares of the business's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $76.14, for a total value of $2,804,160.06. Following the transaction, the insider directly owned 556,004 shares in the company, valued at $42,334,144.56. The trade was a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company's stock.

About American International Group

American International Group, Inc NYSE: AIG is a global insurance organization that provides commercial and personal insurance products and services. Through its General Insurance business, AIG offers property, casualty, liability, workers' compensation, accident, specialty, and other insurance solutions to businesses, institutions, and individuals.

AIG serves multinational corporations, small and midsize businesses, public-sector organizations, and individual policyholders through a network spanning numerous countries and jurisdictions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.