Westpac Banking Corp Sells 17,425 Shares of American International Group, Inc. (NYSE:AIG)

Westpac Banking Corp lessened its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 68.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,945 shares of the insurance provider's stock after selling 17,425 shares during the quarter. Westpac Banking Corp's holdings in American International Group were worth $538,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Invesco Ltd. increased its position in American International Group by 3.0% during the third quarter. Invesco Ltd. now owns 17,085,545 shares of the insurance provider's stock worth $1,035,384,000 after buying an additional 503,547 shares in the last quarter. FMR LLC lifted its holdings in American International Group by 5.0% in the 3rd quarter. FMR LLC now owns 12,745,085 shares of the insurance provider's stock valued at $772,352,000 after purchasing an additional 604,901 shares in the last quarter. Northern Trust Corp boosted its stake in shares of American International Group by 1.8% during the 3rd quarter. Northern Trust Corp now owns 7,711,308 shares of the insurance provider's stock worth $467,305,000 after purchasing an additional 133,828 shares during the last quarter. LSV Asset Management grew its holdings in shares of American International Group by 5.3% during the fourth quarter. LSV Asset Management now owns 5,786,940 shares of the insurance provider's stock worth $392,065,000 after buying an additional 290,061 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of American International Group by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,395,566 shares of the insurance provider's stock valued at $297,800,000 after buying an additional 32,065 shares during the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Stock Down 0.2 %

Shares of AIG stock traded down $0.16 on Thursday, hitting $78.74. The stock had a trading volume of 5,463,992 shares, compared to its average volume of 3,982,069. The stock's 50 day moving average is $76.47 and its 200-day moving average is $70.59. The firm has a market capitalization of $52.26 billion, a price-to-earnings ratio of 11.75, a P/E/G ratio of 1.12 and a beta of 1.02. American International Group, Inc. has a 52-week low of $52.78 and a 52-week high of $80.83. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.29 and a current ratio of 0.29.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates of $1.66 by $0.11. American International Group had a net margin of 9.98% and a return on equity of 10.54%. The company had revenue of $12.58 billion during the quarter, compared to analysts' expectations of $12.04 billion. During the same period in the prior year, the company posted $1.63 EPS. As a group, research analysts expect that American International Group, Inc. will post 7.08 earnings per share for the current year.

American International Group announced that its Board of Directors has authorized a share buyback program on Wednesday, May 1st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 19.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its shares are undervalued.

American International Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.40 per share. This is a boost from American International Group's previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Friday, June 14th. American International Group's dividend payout ratio is 23.88%.

Insider Transactions at American International Group

In related news, CEO Peter Zaffino sold 333,000 shares of the company's stock in a transaction on Friday, March 15th. The shares were sold at an average price of $75.87, for a total value of $25,264,710.00. Following the sale, the chief executive officer now directly owns 505,420 shares of the company's stock, valued at $38,346,215.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Peter Zaffino sold 333,000 shares of the business's stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.87, for a total value of $25,264,710.00. Following the completion of the sale, the chief executive officer now directly owns 505,420 shares of the company's stock, valued at $38,346,215.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John C. Inglis bought 659 shares of American International Group stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the acquisition, the director now owns 659 shares in the company, valued at $49,682.01. The disclosure for this purchase can be found here. Corporate insiders own 0.61% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AIG shares. HSBC lowered shares of American International Group from a "buy" rating to a "hold" rating and set a $86.00 target price on the stock. in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on American International Group from $73.00 to $80.00 and gave the stock a "neutral" rating in a research report on Monday, April 8th. Bank of America cut American International Group from a "buy" rating to a "neutral" rating and lifted their price target for the company from $75.00 to $77.00 in a report on Tuesday, February 20th. UBS Group increased their price objective on shares of American International Group from $83.00 to $84.00 and gave the stock a "buy" rating in a report on Thursday, February 22nd. Finally, Citigroup boosted their target price on shares of American International Group from $79.00 to $87.00 and gave the company a "buy" rating in a report on Tuesday, April 16th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, American International Group presently has an average rating of "Hold" and a consensus price target of $81.06.

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.