Driehaus Capital Management LLC Has $225,000 Stock Holdings in American International Group, Inc. (NYSE:AIG)

Driehaus Capital Management LLC decreased its stake in American International Group, Inc. (NYSE:AIG) by 18.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,032 shares of the insurance provider’s stock after selling 670 shares during the quarter. Driehaus Capital Management LLC’s holdings in American International Group were worth $225,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Capital Research Global Investors lifted its stake in American International Group by 0.4% in the fourth quarter. Capital Research Global Investors now owns 41,770,175 shares of the insurance provider’s stock valued at $2,829,930,000 after buying an additional 176,286 shares during the period. Putnam Investments LLC lifted its stake in American International Group by 3.8% in the fourth quarter. Putnam Investments LLC now owns 8,245,693 shares of the insurance provider’s stock valued at $558,646,000 after buying an additional 300,712 shares during the period. Dimensional Fund Advisors LP lifted its stake in American International Group by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 6,435,245 shares of the insurance provider’s stock valued at $477,802,000 after buying an additional 269,188 shares during the period. Clearbridge Investments LLC lifted its stake in American International Group by 0.6% in the first quarter. Clearbridge Investments LLC now owns 5,440,355 shares of the insurance provider’s stock valued at $425,273,000 after buying an additional 31,340 shares during the period. Finally, Third Point LLC lifted its stake in American International Group by 16.9% in the fourth quarter. Third Point LLC now owns 3,450,000 shares of the insurance provider’s stock valued at $233,738,000 after buying an additional 500,000 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Price Performance

AIG stock opened at $73.23 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 12 month low of $57.72 and a 12 month high of $80.83. The firm has a market cap of $48.60 billion, a P/E ratio of 10.93, a P/E/G ratio of 3.70 and a beta of 1.06. The company’s 50-day moving average price is $74.10 and its two-hundred day moving average price is $75.61.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.14). The company had revenue of $1.00 million for the quarter, compared to the consensus estimate of $11.64 billion. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the firm posted $1.75 earnings per share. On average, analysts anticipate that American International Group, Inc. will post 5.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Monday, September 16th. American International Group’s dividend payout ratio (DPR) is presently 23.88%.

Insider Activity at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the sale, the insider now directly owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AIG has been the topic of a number of research analyst reports. Piper Sandler dropped their price target on American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Bank of America raised their price target on American International Group from $81.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Evercore ISI dropped their price target on American International Group from $81.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, June 27th. Morgan Stanley dropped their price target on American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, Barclays initiated coverage on American International Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, American International Group presently has a consensus rating of “Hold” and an average price target of $83.88.

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.