Northern Trust Corp Has $596.67 Million Position in American International Group, Inc. $AIG

Key Points

• Northern Trust Corp reduced its holdings in American International Group, Inc. (AIG) by 5.4% during the 1st quarter, owning approximately 6.86 million shares after selling about 396,000 shares.
• Several institutional investors made significant adjustments to their AIG holdings, with GQG Partners LLC increasing its stake by a staggering 33,315% to nearly 18.91 million shares.
• AIG reported a quarterly earnings per share of $1.81, surpassing the analysts' estimates and declared a quarterly dividend of $0.45 per share, with a projected annual yield of 2.2%.

Northern Trust Corp reduced its position in American International Group, Inc. (NYSE:AIG - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,863,059 shares of the insurance provider's stock after selling 395,589 shares during the quarter. Northern Trust Corp owned approximately 1.19% of American International Group worth $596,674,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pinnacle Associates Ltd. increased its holdings in American International Group by 1.6% in the first quarter. Pinnacle Associates Ltd. now owns 7,706 shares of the insurance provider's stock valued at $670,000 after buying an additional 122 shares during the last quarter. Miracle Mile Advisors LLC grew its holdings in shares of American International Group by 1.6% during the first quarter. Miracle Mile Advisors LLC now owns 8,094 shares of the insurance provider's stock valued at $704,000 after purchasing an additional 124 shares during the last quarter. Western Pacific Wealth Management LP raised its position in shares of American International Group by 2.3% during the 1st quarter. Western Pacific Wealth Management LP now owns 5,673 shares of the insurance provider's stock worth $493,000 after purchasing an additional 125 shares during the period. Montag A & Associates Inc. raised its position in shares of American International Group by 0.7% during the 1st quarter. Montag A & Associates Inc. now owns 17,788 shares of the insurance provider's stock worth $1,546,000 after purchasing an additional 130 shares during the period. Finally, Carnegie Investment Counsel raised its position in shares of American International Group by 3.1% during the 1st quarter. Carnegie Investment Counsel now owns 4,311 shares of the insurance provider's stock worth $375,000 after purchasing an additional 131 shares during the period. 90.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AIG has been the topic of a number of research reports. Cantor Fitzgerald upgraded American International Group to a "hold" rating in a research report on Tuesday, August 12th. Citigroup began coverage on American International Group in a research report on Wednesday, August 13th. They set a "neutral" rating and a $85.00 price target on the stock. Cfra Research raised American International Group to a "moderate buy" rating in a report on Monday, August 11th. Barclays increased their price objective on American International Group from $92.00 to $93.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Finally, William Blair raised American International Group to a "strong-buy" rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $88.27.

American International Group Price Performance

AIG traded up $0.7460 during trading on Friday, reaching $83.3360. The stock had a trading volume of 3,123,661 shares, compared to its average volume of 4,071,157. The firm has a market capitalization of $46.17 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 0.88 and a beta of 0.63. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 1-year low of $69.24 and a 1-year high of $88.07. The stock has a 50 day moving average of $81.52 and a two-hundred day moving average of $81.59.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. As a group, equities analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, September 16th. American International Group's dividend payout ratio is 34.09%.

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.