Victory Capital Management Inc. Reduces Position in American International Group, Inc. (NYSE:AIG)

Victory Capital Management Inc. decreased its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 59.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 228,580 shares of the insurance provider's stock after selling 338,985 shares during the period. Victory Capital Management Inc.'s holdings in American International Group were worth $19,873,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AIG. Norges Bank purchased a new position in American International Group during the 4th quarter valued at about $718,013,000. Bank of New York Mellon Corp increased 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 period. Balyasny Asset Management L.P. purchased a new position in American International Group during the 4th quarter valued at about $135,325,000. Wellington Management Group LLP increased its position in American International Group by 7.2% during the 4th quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider's stock valued at $1,951,427,000 after purchasing an additional 1,791,964 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in American International Group by 2,134.0% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,426,985 shares of the insurance provider's stock valued at $103,885,000 after purchasing an additional 1,363,108 shares during the period. Hedge funds and other institutional investors own 90.60% of the company's stock.

Insider Activity

In other news, EVP Christopher Flatt sold 46,182 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the completion of the sale, the executive vice president owned 21,400 shares of the company's stock, valued at $1,781,764. This represents a 68.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of American International Group to $91.00 and gave the stock a "buy" rating in a research report on Wednesday, April 2nd. 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. The Goldman Sachs Group upped their price objective on shares of American International Group from $79.00 to $87.00 and gave the company a "neutral" rating in a report on Tuesday, April 1st. Barclays upped their price objective on shares of American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Finally, Morgan Stanley upped their price objective on shares of American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $88.19.

American International Group Price Performance

NYSE:AIG traded up $0.89 during trading hours on Friday, reaching $80.12. 4,476,835 shares of the company were exchanged, compared to its average volume of 4,154,542. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.21. The stock's 50-day moving average is $83.43 and its 200-day moving average is $80.81. The firm has a market cap of $46.17 billion, a PE ratio of -30.12, a price-to-earnings-growth ratio of 0.87 and a beta of 0.63. American International Group, Inc. has a twelve month low of $69.00 and a twelve month high of $88.07.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.13. The company had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.89 billion. American International Group had a negative net margin of 7.05% and a positive return on equity of 7.13%. During the same period in the prior year, the business posted $1.25 earnings per share. On average, sell-side analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a dividend of $0.45 per share. The ex-dividend date was Friday, June 13th. This is a boost from American International Group's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 2.25%. American International Group's dividend payout ratio is currently -67.67%.

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.