State of Alaska Department of Revenue Lowers Stake in American International Group, Inc. $AIG

Key Points

• The State of Alaska Department of Revenue has reduced its stake in American International Group, Inc. (AIG) by 6.9%, now holding 64,715 shares worth approximately $5.54 million.
• Multiple large investors have recently increased their positions in AIG, with GQG Partners LLC raising their stake by an astonishing 33,315% in the first quarter.
• Analysts have shown mixed sentiments towards AIG, with two rating it a Strong Buy, seven as a Buy, and ten as a Hold, while the consensus target price is set at $88.27.

State of Alaska Department of Revenue reduced its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 6.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,715 shares of the insurance provider's stock after selling 4,810 shares during the period. State of Alaska Department of Revenue's holdings in American International Group were worth $5,538,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. GQG Partners LLC lifted its position in American International Group by 33,315.0% during the 1st quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider's stock valued at $1,643,995,000 after acquiring an additional 18,852,949 shares during the period. Bank of New York Mellon Corp grew its position in American International Group by 20.4% during the 1st quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider's stock valued at $974,840,000 after purchasing an additional 1,901,998 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in American International Group by 22.8% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 9,113,636 shares of the insurance provider's stock valued at $792,340,000 after purchasing an additional 1,694,290 shares during the last quarter. Nuveen LLC purchased a new stake in American International Group during the 1st quarter valued at about $440,273,000. Finally, AQR Capital Management LLC raised its position in American International Group by 184.4% in the 1st quarter. AQR Capital Management LLC now owns 3,335,040 shares of the insurance provider's stock worth $287,214,000 after buying an additional 2,162,545 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AIG. Wall Street Zen cut American International Group from a "buy" rating to a "hold" rating in a research report on Tuesday, September 23rd. Cantor Fitzgerald upgraded American International Group to a "hold" rating in a research report on Tuesday, August 12th. Citigroup assumed coverage on American International Group in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $85.00 price objective on the stock. Keefe, Bruyette & Woods lowered their price objective on American International Group from $97.00 to $91.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Finally, Wolfe Research started coverage on American International Group in a research report on Tuesday, September 16th. They issued a "peer perform" rating on the stock. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.27.

American International Group Trading Up 1.2%

AIG stock opened at $78.00 on Monday. The company has a market capitalization of $43.21 billion, a PE ratio of 14.77, a P/E/G ratio of 0.83 and a beta of 0.70. American International Group, Inc. has a 12 month low of $69.24 and a 12 month high of $88.07. The firm's 50-day moving average is $79.38 and its 200 day moving average is $81.82. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.60 by $0.21. The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.81 billion. American International Group had a net margin of 11.51% and a return on equity of 7.88%. During the same quarter last year, the firm posted $1.16 EPS. On average, research analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid 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 dividend payout ratio is 34.09%.

About American International Group

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.

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