Pictet Asset Management Holding SA Has $17.32 Million Position in American International Group, Inc. $AIG

Key Points

• Pictet Asset Management reduced its stake in American International Group by 14.2% in the first quarter, but still held 230,113 shares valued at about $17.3 million.
• Several other big institutional investors also adjusted positions in AIG, and 90.6% of the stock is owned by institutions, highlighting strong professional ownership of the insurer.
• AIG reported better-than-expected quarterly earnings of $2.11 per share, and the company also raised its dividend to $0.50 per share, while analysts currently rate the stock a consensus Hold with an average price target of $87.94.

Pictet Asset Management Holding SA cut its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 14.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 230,113 shares of the insurance provider's stock after selling 37,940 shares during the period. Pictet Asset Management Holding SA's holdings in American International Group were worth $17,316,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital Research Global Investors grew its holdings in American International Group by 79.6% during the third quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider's stock worth $2,241,091,000 after purchasing an additional 12,645,616 shares during the period. Norges Bank bought a new stake in American International Group in the fourth quarter valued at approximately $636,782,000. Price T Rowe Associates Inc. MD lifted its position 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 valued at $1,400,613,000 after buying an additional 4,661,246 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of American International Group by 36.9% during the 4th quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider's stock worth $1,336,147,000 after acquiring an additional 4,210,363 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of American International Group by 7.9% during the 3rd quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider's stock worth $2,045,657,000 after acquiring an additional 1,899,203 shares during the period. 90.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AIG. Barclays increased their price target on American International Group from $78.00 to $80.00 and gave the company an "equal weight" rating in a research note on Friday, May 1st. Citigroup upped their price objective on shares of American International Group from $85.00 to $88.00 and gave the company a "neutral" rating in a report on Monday, May 4th. The Goldman Sachs Group increased their price objective on shares of American International Group from $85.00 to $88.00 and gave the company a "buy" rating in a research report on Wednesday. Morgan Stanley cut their target price on shares of American International Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research note on Monday, April 6th. Finally, Mizuho lifted their target price on shares of American International Group from $84.00 to $86.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and thirteen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $87.94.

American International Group Stock Up 3.6%

NYSE AIG opened at $79.33 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23. The company has a market cap of $42.06 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 0.70 and a beta of 0.53. The company has a 50 day moving average of $75.62 and a 200-day moving average of $77.18. American International Group, Inc. has a 1-year low of $71.25 and a 1-year high of $87.29.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.22. American International Group had a return on equity of 10.93% and a net margin of 11.86%.The business had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $7.03 billion. During the same quarter in the prior year, the business posted $1.17 earnings per share. On average, equities research analysts expect that American International Group, Inc. will post 7.98 earnings per share for the current fiscal year.

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were issued a dividend of $0.50 per share. This is an increase from American International Group's previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.00 annualized dividend and a dividend yield of 2.5%. American International Group's payout ratio is currently 35.27%.

American International Group Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.

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