W1M Asset Management Ltd Has $14.61 Million Stock Position in American International Group, Inc. $AIG

Key Points

• W1M Asset Management reduced its AIG stake by 17.9% in the second quarter, selling 42,669 shares and retaining 196,050 shares valued at approximately $14.61 million. Institutional investors collectively own 90.6% of AIG.
• AIG reported quarterly EPS of $2.00, exceeding analysts’ $1.92 estimate, although revenue of $7.08 billion fell short of the $7.25 billion consensus. The company declared a quarterly dividend of $0.50 per share, representing a 2.6% yield.
• AIG shares opened at $76.30, while analysts maintain a consensus “Hold” rating with an average price target of $88.28. CEO Peter Zaffino separately sold 200,000 shares for roughly $15.3 million under a pre-arranged trading plan.

W1M Asset Management Ltd cut its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 17.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 196,050 shares of the insurance provider's stock after selling 42,669 shares during the period. W1M Asset Management Ltd's holdings in American International Group were worth $14,613,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Modus Advisors LLC acquired a new position in shares of American International Group during the 4th quarter worth about $27,000. Navalign LLC bought a new position in American International Group during the 4th quarter worth approximately $29,000. Mcguire Capital Advisors Inc. bought a new position in American International Group during the 4th quarter worth approximately $29,000. SHP Wealth Management acquired a new position in American International Group during the fourth quarter valued at approximately $34,000. Finally, CENTRAL TRUST Co grew its holdings in American International Group by 48.7% during the first quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider's stock valued at $35,000 after purchasing an additional 151 shares during the period. Institutional investors and hedge funds own 90.60% of the company's stock.

Insider Buying and Selling at American International Group

In other news, insider Peter Zaffino sold 200,000 shares of the business's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total value of $15,294,000.00. Following the sale, the insider owned 592,833 shares of the company's stock, valued at $45,333,939.51. The trade was a 25.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by corporate insiders.

American International Group Trading Up 0.7%

AIG opened at $76.30 on Friday. The stock has a market capitalization of $39.90 billion, a P/E ratio of 13.95, a P/E/G ratio of 0.69 and a beta of 0.53. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $87.29. The firm's fifty day simple moving average is $77.69 and its 200 day simple moving average is $76.96.

American International Group (NYSE:AIG - Get Free Report) last released its earnings results on Thursday, August 6th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.92 by $0.08. The firm had revenue of $7.08 billion during the quarter, compared to analysts' expectations of $7.25 billion. American International Group had a return on equity of 11.05% and a net margin of 11.13%.During the same quarter in the prior year, the company earned $1.81 EPS. As a group, research analysts anticipate that American International Group, Inc. will post 8.02 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, September 16th. American International Group's dividend payout ratio (DPR) is currently 36.56%.

Analyst Ratings Changes

AIG has been the topic of several analyst reports. Barclays increased their target price on shares of American International Group from $80.00 to $81.00 and gave the stock an "equal weight" rating in a report on Friday, August 7th. HSBC lowered their price objective on shares of American International Group from $94.00 to $88.00 and set a "buy" rating for the company in a research report on Monday, July 6th. Mizuho lifted their target price on American International Group from $86.00 to $89.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Citigroup boosted their target price on American International Group from $85.00 to $88.00 and gave the company a "neutral" rating in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. raised their price target on American International Group from $86.00 to $90.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. Seven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $88.28.

About American International Group

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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