Y Intercept Hong Kong Ltd Reduces Stock Position in American International Group, Inc. $AIG

Y Intercept Hong Kong Ltd cut its holdings in American International Group, Inc. (NYSE:AIG) by 65.0% during the 2nd quarter, Holdings Channel reports. The firm owned 23,260 shares of the insurance provider’s stock after selling 43,165 shares during the period. Y Intercept Hong Kong Ltd’s holdings in American International Group were worth $1,991,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. GQG Partners LLC grew its stake in shares of American International Group by 33,315.0% in the first quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider’s stock worth $1,643,995,000 after purchasing an additional 18,852,949 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of American International Group by 20.4% in the first quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider’s stock worth $974,840,000 after purchasing an additional 1,901,998 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of American International Group by 22.8% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 9,113,636 shares of the insurance provider’s stock worth $792,340,000 after purchasing an additional 1,694,290 shares during the last quarter. Nuveen LLC bought a new stake in shares of American International Group in the first quarter worth about $440,273,000. Finally, AQR Capital Management LLC grew its stake in shares of American International Group by 184.4% in the first quarter. AQR Capital Management LLC now owns 3,335,040 shares of the insurance provider’s stock worth $287,214,000 after purchasing an additional 2,162,545 shares during the last quarter. 90.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of American International Group in a research note on Wednesday, October 8th. Citigroup started coverage on American International Group in a research report on Wednesday, August 13th. They set a “neutral” rating and a $85.00 price objective on the stock. Bank of America increased their target price on American International Group from $88.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, October 13th. Cantor Fitzgerald upgraded American International Group to a “hold” rating in a research note on Tuesday, August 12th. Finally, Evercore ISI raised their target price on American International Group from $89.00 to $90.00 and gave the company an “in-line” rating in a research note on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $89.81.

American International Group Price Performance

AIG stock opened at $79.02 on Friday. The firm has a 50 day moving average price of $79.56 and a 200-day moving average price of $81.30. American International Group, Inc. has a 52-week low of $69.24 and a 52-week high of $88.07. The firm has a market capitalization of $43.78 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 0.77 and a beta of 0.68. 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) last released its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.21. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same period last year, the business earned $1.16 earnings per share. Equities research analysts forecast 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 was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Tuesday, September 16th. American International Group’s dividend payout ratio (DPR) is presently 34.09%.

American International Group Company 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.