Intech Investment Management LLC Trims Holdings in American International Group, Inc. (NYSE:AIG)

Intech Investment Management LLC decreased its stake in shares of American International Group, Inc. (NYSE:AIG) by 10.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 82,503 shares of the insurance provider’s stock after selling 9,360 shares during the quarter. Intech Investment Management LLC’s holdings in American International Group were worth $6,125,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Capital Research Global Investors raised its position 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 purchasing an additional 176,286 shares during the period. Putnam Investments LLC raised its position 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 purchasing an additional 300,712 shares during the period. Dimensional Fund Advisors LP raised its position 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 purchasing an additional 269,188 shares during the period. Clearbridge Investments LLC raised its position 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 purchasing an additional 31,340 shares during the period. Finally, Third Point LLC raised its position 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 purchasing an additional 500,000 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Trading Down 0.2 %

NYSE:AIG opened at $73.76 on Friday. The stock has a 50-day simple moving average of $74.55 and a 200-day simple moving average of $75.68. The stock has a market cap of $48.95 billion, a P/E ratio of 11.01, a P/E/G ratio of 3.60 and a beta of 1.06. American International Group, Inc. has a 1 year low of $57.72 and a 1 year high of $80.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67.

American International Group (NYSE:AIG) last released its quarterly earnings data 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 business had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The company’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.75 earnings per share. As a group, 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 company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.17%. American International Group’s dividend payout ratio (DPR) is presently 23.88%.

Analyst Ratings Changes

AIG has been the topic of a number of research analyst reports. TD Cowen reduced their target price on American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. Morgan Stanley cut their price objective on American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $87.00 price objective on shares of American International Group in a report on Tuesday, July 9th. Barclays started coverage on American International Group in a report on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 price objective on the stock. Finally, Evercore ISI cut their price objective on American International Group from $81.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $83.88.

Insider Activity at American International Group

In related news, major shareholder International Group American sold 1,932,609 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total value of $56,432,182.80. Following the completion of the sale, the insider now directly owns 292,271,027 shares of the company’s stock, valued at approximately $8,534,313,988.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 14,964,738 shares of company stock valued at $400,732,195 in the last three months. 0.61% of the stock is currently owned by company insiders.

About American International Group

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.