American International Group, Inc. (NYSE:AIG) Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in American International Group by 4.3%, selling 2,804,410 shares and retaining approximately 10.49% ownership in the company.
• American International Group recently disclosed a quarterly dividend of $0.45, which translates to an annualized dividend of $1.80 and a yield of 2.3%.
• Analysts have a consensus rating of "Moderate Buy" for AIG, with a target price adjustment ranging from $82.00 to $97.00 based on multiple upgrades from various firms.

Vanguard Group Inc. cut its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 4.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 62,452,826 shares of the insurance provider's stock after selling 2,804,410 shares during the period. Vanguard Group Inc. owned 10.49% of American International Group worth $5,429,649,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AIG. Pinnacle Associates Ltd. raised its stake in shares of American International Group by 1.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 7,706 shares of the insurance provider's stock worth $670,000 after acquiring an additional 122 shares in the last quarter. Miracle Mile Advisors LLC raised its stake in shares of American International Group by 1.6% during the 1st quarter. Miracle Mile Advisors LLC now owns 8,094 shares of the insurance provider's stock worth $704,000 after acquiring an additional 124 shares in the last quarter. Western Pacific Wealth Management LP raised its stake 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 acquiring an additional 125 shares in the last quarter. Montag A & Associates Inc. raised its stake 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 acquiring an additional 130 shares in the last quarter. Finally, Carnegie Investment Counsel raised its stake 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 acquiring an additional 131 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AIG shares. Keefe, Bruyette & Woods upped their price objective on shares of American International Group from $94.00 to $97.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Wells Fargo & Company lifted their target price on shares of American International Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Jefferies Financial Group lifted their target price on shares of American International Group from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Wall Street Zen upgraded shares of American International Group from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Morgan Stanley lifted their target price on shares of American International Group from $81.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $88.33.

American International Group Stock Performance

American International Group stock traded up $1.52 during mid-day trading on Friday, hitting $78.12. The company had a trading volume of 4,170,729 shares, compared to its average volume of 4,459,343. The company has a market capitalization of $45.02 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 0.84 and a beta of 0.63. American International Group, Inc. has a 12-month low of $69.24 and a 12-month high of $88.07. The company's fifty day moving average is $82.43 and its 200-day moving average is $81.16. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.21.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.60 by $0.21. The business had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.81 billion. American International Group had a net margin of 11.51% and a return on equity of 7.81%. During the same quarter last year, the company earned $1.16 EPS. Equities research analysts predict that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. American International Group's dividend payout ratio (DPR) is presently 34.09%.

American International Group 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.