Wellington Management Group LLP Cuts Stock Holdings in American International Group, Inc. $AIG

Key Points

• Wellington Management Group LLP reduced its stake in American International Group, Inc. by 5.1%, selling 1,374,816 shares, but still holds approximately 25.4 million shares valued at $2.21 billion.
• Several research firms have raised their price targets for AIG, with Morgan Stanley increasing its target from $81 to $85, and Barclays raising theirs from $92 to $93, indicating a generally positive outlook on the stock.
• American International Group announced a quarterly dividend of $0.45 per share, providing a 2.2% yield, with the dividend scheduled to be paid on September 30th to investors of record by September 16th.

Wellington Management Group LLP lowered its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 5.1% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 25,430,494 shares of the insurance provider's stock after selling 1,374,816 shares during the period. Wellington Management Group LLP owned about 4.41% of American International Group worth $2,210,927,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Pinnacle Associates Ltd. boosted its holdings 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 purchasing an additional 122 shares during the last quarter. Miracle Mile Advisors LLC lifted its holdings in American International Group by 1.6% in the first quarter. Miracle Mile Advisors LLC now owns 8,094 shares of the insurance provider's stock valued at $704,000 after acquiring an additional 124 shares during the last quarter. Western Pacific Wealth Management LP lifted its holdings in American International Group by 2.3% in the first quarter. Western Pacific Wealth Management LP now owns 5,673 shares of the insurance provider's stock valued at $493,000 after acquiring an additional 125 shares during the last quarter. Montag A & Associates Inc. lifted its holdings in American International Group by 0.7% in the first quarter. Montag A & Associates Inc. now owns 17,788 shares of the insurance provider's stock valued at $1,546,000 after acquiring an additional 130 shares during the last quarter. Finally, Carnegie Investment Counsel lifted its holdings in American International Group by 3.1% in the first quarter. Carnegie Investment Counsel now owns 4,311 shares of the insurance provider's stock valued at $375,000 after acquiring an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company's stock.

American International Group Trading Up 0.9%

NYSE AIG traded up $0.7460 on Friday, reaching $83.3360. The stock had a trading volume of 3,123,661 shares, compared to its average volume of 4,071,157. The firm has a market capitalization of $46.17 billion, a price-to-earnings ratio of 15.78, a P/E/G ratio of 0.88 and a beta of 0.63. 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, Inc. has a 12-month low of $69.24 and a 12-month high of $88.07. The stock has a fifty day moving average price of $81.52 and a two-hundred day moving average price of $81.59.

American International Group (NYSE:AIG - Get Free Report) last announced its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.21. The company had revenue of $6.77 billion for the quarter, compared to analyst estimates 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 previous year, the company earned $1.16 earnings per share. As a group, sell-side analysts forecast that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given 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 2.2%. American International Group's dividend payout ratio is currently 34.09%.

Analysts Set New Price Targets

AIG has been the topic of a number of recent analyst reports. Cantor Fitzgerald upgraded American International Group to a "hold" rating in a report on Tuesday, August 12th. Wells Fargo & Company upped their price objective on American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Keefe, Bruyette & Woods decreased their price objective on American International Group from $97.00 to $91.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Citigroup initiated coverage on American International Group in a report on Wednesday, August 13th. They issued a "neutral" rating and a $85.00 price objective on the stock. Finally, Morgan Stanley upped their price objective on American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, American International Group currently has a consensus rating of "Moderate Buy" and an average price target of $88.27.

American International Group Company 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.