Resona Asset Management Co. Ltd. Sells 11,809 Shares of American International Group, Inc. $AIG

Resona Asset Management Co. Ltd. cut its holdings in shares of American International Group, Inc. (NYSE:AIG) by 6.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 167,256 shares of the insurance provider’s stock after selling 11,809 shares during the period. Resona Asset Management Co. Ltd.’s holdings in American International Group were worth $14,336,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AIG. Brighton Jones LLC bought a new position in shares of American International Group during the fourth quarter valued at approximately $1,091,000. Sivia Capital Partners LLC boosted its stake in shares of American International Group by 30.7% during the second quarter. Sivia Capital Partners LLC now owns 5,050 shares of the insurance provider’s stock valued at $432,000 after purchasing an additional 1,185 shares in the last quarter. Flow Traders U.S. LLC acquired a new stake in American International Group in the second quarter valued at approximately $217,000. Ieq Capital LLC boosted its stake in American International Group by 11.5% in the second quarter. Ieq Capital LLC now owns 244,871 shares of the insurance provider’s stock valued at $20,958,000 after acquiring an additional 25,311 shares in the last quarter. Finally, HUB Investment Partners LLC acquired a new stake in American International Group in the second quarter valued at approximately $269,000. 90.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AIG has been the subject of several recent analyst reports. BMO Capital Markets raised their target price on shares of American International Group from $83.00 to $89.00 in a research note on Thursday, May 7th. HSBC raised 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 note on Monday, May 4th. Wells Fargo & Company lowered their target price on shares of American International Group from $86.00 to $85.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 6th. Bank of America lowered their target price on shares of American International Group from $80.00 to $79.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Finally, The Goldman Sachs Group raised their target price on shares of American International Group from $87.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $88.06.

American International Group Trading Up 0.5%

NYSE AIG opened at $77.94 on Thursday. The company has a fifty day simple moving average of $76.18 and a two-hundred day simple moving average of $77.65. The stock has a market cap of $41.32 billion, a P/E ratio of 13.75, a P/E/G ratio of 0.74 and a beta of 0.53. American International Group, Inc. has a 12-month low of $71.25 and a 12-month high of $87.46. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.22. The business had revenue of $6.65 billion during 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 quarter last year, the company posted $1.17 earnings per share. On average, analysts forecast that American International Group, Inc. will post 7.95 earnings per share for the current year.

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be issued a $0.50 dividend. This is an increase from American International Group’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, June 15th. American International Group’s dividend payout ratio is 31.75%.

American International Group 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.