Westwood Holdings Group Inc. Sells 176,368 Shares of American International Group, Inc. (NYSE:AIG)

Key Points

• Westwood Holdings Group Inc. significantly reduced its stake in American International Group, Inc. by 97.5%, holding just 4,497 shares worth $391,000 after selling off a large portion of their holdings.
• American International Group shares received positive analyst ratings, with Barclays and Keefe, Bruyette & Woods raising their target prices, indicating an average rating of "Moderate Buy" with a target price of $88.33.
• The company announced a quarterly dividend of $0.45, payable on September 30th, which translates to an annualized yield of 2.4%.

Westwood Holdings Group Inc. decreased its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 97.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,497 shares of the insurance provider's stock after selling 176,368 shares during the period. Westwood Holdings Group Inc.'s holdings in American International Group were worth $391,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of AIG. Pinnacle Associates Ltd. grew its position in shares of American International Group by 1.6% in the first quarter. Pinnacle Associates Ltd. now owns 7,706 shares of the insurance provider's stock valued at $670,000 after purchasing an additional 122 shares during the last quarter. Miracle Mile Advisors LLC grew its holdings in 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 valued at $704,000 after purchasing an additional 124 shares in the last quarter. Western Pacific Wealth Management LP grew its holdings in 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. boosted its holdings in shares of 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 valued at $1,546,000 after buying an additional 130 shares during the period. Finally, Carnegie Investment Counsel grew its position in American International Group by 3.1% in the 1st quarter. Carnegie Investment Counsel now owns 4,311 shares of the insurance provider's stock worth $375,000 after purchasing an additional 131 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company's stock.

American International Group Trading Down 0.4%

Shares of NYSE AIG traded down $0.33 during mid-day trading on Tuesday, hitting $78.30. The stock had a trading volume of 1,265,100 shares, compared to its average volume of 4,562,987. The firm has a market cap of $43.38 billion, a P/E ratio of 14.80, a price-to-earnings-growth ratio of 0.85 and a beta of 0.63. The business has a 50 day moving average price of $82.29 and a two-hundred day moving average price of $81.28. American International Group, Inc. has a 1 year low of $69.24 and a 1 year high of $88.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.60 by $0.21. The business had revenue of $6.77 billion during 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 last year, the firm posted $1.16 earnings per share. On average, equities analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. American International Group's payout ratio is 34.09%.

Analyst Ratings Changes

A number of research firms recently commented on AIG. Barclays boosted their target price on shares of American International Group from $92.00 to $93.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Keefe, Bruyette & Woods cut their target price on shares of American International Group from $97.00 to $91.00 and set an "outperform" rating for the company in a research note on Tuesday. Morgan Stanley upped their target price on shares of American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. William Blair upgraded shares of American International Group to a "strong-buy" rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company increased their price objective on shares of American International Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.93.

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.