Baker Avenue Asset Management LP Sells 9,931 Shares of American International Group, Inc. $AIG

Baker Avenue Asset Management LP lessened its position in shares of American International Group, Inc. (NYSE:AIG) by 29.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,032 shares of the insurance provider’s stock after selling 9,931 shares during the quarter. Baker Avenue Asset Management LP’s holdings in American International Group were worth $2,056,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Capital Research Global Investors lifted its position in American International Group by 79.6% in the third quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider’s stock worth $2,241,091,000 after purchasing an additional 12,645,616 shares during the period. Vanguard Group Inc. increased its holdings in American International Group by 11.6% in the 3rd quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider’s stock valued at $5,378,635,000 after buying an additional 7,117,583 shares during the period. Wellington Management Group LLP raised its stake in shares of American International Group by 7.9% in the 3rd quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock valued at $2,045,657,000 after buying an additional 1,899,203 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of American International Group by 22.0% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock valued at $805,529,000 after buying an additional 1,846,979 shares in the last quarter. Finally, Viking Global Investors LP bought a new position in shares of American International Group during the 2nd quarter worth about $155,413,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Trading Down 1.3%

Shares of AIG stock opened at $74.33 on Friday. American International Group, Inc. has a 12-month low of $71.25 and a 12-month high of $87.46. The company has a market capitalization of $39.41 billion, a P/E ratio of 13.11, a P/E/G ratio of 0.69 and a beta of 0.53. The firm has a 50-day moving average price of $76.13 and a 200 day moving average price of $77.59. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.22. The firm had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $7.03 billion. American International Group had a net margin of 11.86% and a return on equity of 10.93%. During the same period in the prior year, the firm earned $1.17 earnings per share. Research analysts forecast that American International Group, Inc. will post 7.97 earnings per share for the current fiscal year.

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be given a dividend of $0.50 per share. This is a boost from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date is Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a yield of 2.7%. American International Group’s dividend payout ratio is currently 31.75%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. HSBC lifted their target price on shares of American International Group from $89.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Citigroup raised their price target on shares of American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Piper Sandler decreased their price objective on American International Group from $95.00 to $88.00 and set an “overweight” rating on the stock in a report on Thursday, February 12th. The Goldman Sachs Group upped their price objective on American International Group from $87.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Finally, JPMorgan Chase & Co. dropped their target price on American International Group from $97.00 to $86.00 and set a “neutral” rating for the company in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $88.06.

American International Group Company Profile

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.