American International Group, Inc. $AIG Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its holdings in American International Group, Inc. (NYSE:AIG) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,386,668 shares of the insurance provider’s stock after selling 10,683 shares during the quarter. Legal & General Group Plc’s holdings in American International Group were worth $265,989,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in American International Group by 11.6% during the 3rd quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider’s stock worth $5,378,635,000 after acquiring an additional 7,117,583 shares during the period. Franklin Resources Inc. grew its stake in shares of American International Group by 6.1% in the second quarter. Franklin Resources Inc. now owns 12,536,144 shares of the insurance provider’s stock worth $1,072,969,000 after purchasing an additional 716,209 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of American International Group by 4.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 12,111,405 shares of the insurance provider’s stock valued at $951,230,000 after purchasing an additional 499,330 shares during the period. Norges Bank bought a new stake in shares of American International Group during the second quarter valued at about $787,724,000. Finally, Raymond James Financial Inc. raised its stake in shares of American International Group by 4.4% during the second quarter. Raymond James Financial Inc. now owns 3,429,324 shares of the insurance provider’s stock valued at $293,516,000 after purchasing an additional 143,361 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AIG has been the subject of a number of recent analyst reports. Bank of America decreased their target price on shares of American International Group from $89.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, January 16th. Keefe, Bruyette & Woods boosted their price target on shares of American International Group from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Cantor Fitzgerald upped their price target on shares of American International Group from $77.00 to $81.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. UBS Group decreased their price objective on shares of American International Group from $94.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Finally, Evercore lowered their price objective on shares of American International Group from $90.00 to $85.00 in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $87.95.

American International Group Price Performance

NYSE:AIG opened at $77.99 on Thursday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. The business’s 50-day moving average price is $77.04 and its 200 day moving average price is $78.83. American International Group, Inc. has a 52-week low of $71.25 and a 52-week high of $88.07. The firm has a market cap of $41.84 billion, a P/E ratio of 14.39, a PEG ratio of 0.60 and a beta of 0.58.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.06. American International Group had a net margin of 11.56% and a return on equity of 9.79%. The company had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.99 billion. During the same period in the prior year, the company earned $1.30 EPS. As a group, sell-side analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.80 annualized dividend and a yield of 2.3%. American International Group’s dividend payout ratio is currently 33.21%.

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.