Swedbank AB Reduces Stock Position in American International Group, Inc. $AIG

Key Points

• Swedbank AB reduced its stake in American International Group, Inc. by 23.2% in the second quarter, now holding approximately 1.33 million shares worth about $114 million.
• Brokerages have varied ratings on American International Group, with a consensus rating of "Moderate Buy" and a target price of $88.27.
• The company announced a quarterly dividend of $0.45, representing a 2.3% yield, with the payment date set for September 30th.

Swedbank AB lessened its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 23.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,331,922 shares of the insurance provider's stock after selling 402,010 shares during the quarter. Swedbank AB owned approximately 0.23% of American International Group worth $113,999,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Pinnacle Associates Ltd. boosted its stake in American International Group by 1.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 7,706 shares of the insurance provider's stock worth $670,000 after buying an additional 122 shares during the last quarter. Miracle Mile Advisors LLC boosted its stake in American International Group by 1.6% in the 1st quarter. Miracle Mile Advisors LLC now owns 8,094 shares of the insurance provider's stock worth $704,000 after buying an additional 124 shares during the last quarter. Western Pacific Wealth Management LP boosted its stake in American International Group by 2.3% in the 1st quarter. Western Pacific Wealth Management LP now owns 5,673 shares of the insurance provider's stock worth $493,000 after buying an additional 125 shares during the last quarter. Aaron Wealth Advisors LLC boosted its stake in American International Group by 2.4% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 5,466 shares of the insurance provider's stock worth $468,000 after buying an additional 126 shares during the last quarter. Finally, Montag A & Associates Inc. boosted its stake in American International Group by 0.7% in the 1st quarter. Montag A & Associates Inc. now owns 17,788 shares of the insurance provider's stock worth $1,546,000 after buying an additional 130 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AIG. Keefe, Bruyette & Woods decreased their price target on American International Group from $97.00 to $91.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Cantor Fitzgerald raised American International Group to a "hold" rating in a research note on Tuesday, August 12th. Wolfe Research started coverage on American International Group in a research note on Tuesday. They issued a "peer perform" rating on the stock. Cfra Research raised American International Group to a "moderate buy" rating in a research note on Monday, August 11th. Finally, Citigroup started coverage on American International Group in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $85.00 price objective on the stock. Two equities research 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, American International Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.27.

American International Group Stock Up 1.6%

NYSE AIG opened at $78.07 on Friday. The stock has a market cap of $43.25 billion, a PE ratio of 14.79, a P/E/G ratio of 0.82 and a beta of 0.70. American International Group, Inc. has a fifty-two week low of $69.24 and a fifty-two week high of $88.07. The business has a 50 day moving average price of $79.87 and a two-hundred day moving average price of $81.98. 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 (NYSE:AIG - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $0.21. The firm had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.81 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same quarter in the prior year, the business earned $1.16 EPS. As a group, sell-side analysts predict that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Tuesday, September 16th. American International Group's dividend payout ratio is currently 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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