Sei Investments Co. Sells 68,050 Shares of American International Group, Inc. $AIG

Key Points

• Sei Investments Co. reduced its stake in American International Group by 4.8% in the first quarter, selling 68,050 shares and leaving it with 1,338,187 shares valued at about $100.7 million.
• AIG reported stronger-than-expected first-quarter earnings of $2.11 per share, beating analyst estimates, though revenue came in below expectations at $6.65 billion.
• The company raised its quarterly dividend to $0.50 per share from $0.45, while Wall Street currently has a consensus Hold rating on the stock with an average price target of $88.22.

Sei Investments Co. lessened its position in American International Group, Inc. (NYSE:AIG - Free Report) by 4.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,338,187 shares of the insurance provider's stock after selling 68,050 shares during the quarter. Sei Investments Co. owned 0.25% of American International Group worth $100,701,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in American International Group by 39.8% in the 4th 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 buying an additional 4,661,246 shares during the last quarter. Franklin Resources Inc. grew its position in American International Group by 36.9% during 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 acquiring an additional 4,210,363 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in American International Group by 22.0% during 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 acquiring an additional 1,846,979 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of American International Group by 6.1% during the first quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider's stock worth $619,862,000 after acquiring an additional 474,035 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of American International Group by 10.8% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,482,558 shares of the insurance provider's stock worth $640,133,000 after acquiring an additional 731,802 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company's stock.

American International Group Trading Up 0.0%

AIG opened at $78.26 on Friday. The business has a 50 day simple moving average of $76.68 and a two-hundred day simple moving average of $76.47. The firm has a market capitalization of $41.49 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 0.72 and a beta of 0.53. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65. American International Group, Inc. has a one year low of $71.25 and a one year high of $87.29.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 earnings per share 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 firm had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.03 billion. During the same period last year, the company earned $1.17 EPS. Analysts predict that American International Group, Inc. will post 7.97 EPS for the current year.

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 15th. This is a positive change from American International Group's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. American International Group's payout ratio is 35.27%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AIG shares. Morgan Stanley cut their price objective 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. Piper Sandler reiterated a "neutral" rating and issued a $80.00 target price (down from $88.00) on shares of American International Group in a research report on Wednesday, July 15th. Citigroup boosted their price target on shares of American International Group from $85.00 to $88.00 and gave the stock a "neutral" rating in a research note on Monday, May 4th. Mizuho upped their price target on shares of American International Group from $86.00 to $89.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Finally, UBS Group raised their price objective on American International Group from $94.00 to $98.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, American International Group has an average rating of "Hold" and an average price target of $88.22.

American International Group Company 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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