American International Group, Inc. (NYSE:AIG) Stock Position Reduced by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. cut its stake in shares of American International Group, Inc. (NYSE:AIG) by 1.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,810,163 shares of the insurance provider’s stock after selling 31,389 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.27% of American International Group worth $141,500,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Rise Advisors LLC acquired a new stake in American International Group in the 1st quarter worth approximately $29,000. Neo Ivy Capital Management acquired a new stake in American International Group in the 4th quarter worth approximately $40,000. Scarborough Advisors LLC acquired a new stake in American International Group in the 4th quarter worth approximately $40,000. Blue Trust Inc. lifted its holdings in American International Group by 41.7% in the 4th quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock worth $53,000 after purchasing an additional 232 shares during the last quarter. Finally, Highlander Capital Management LLC lifted its holdings in shares of American International Group by 144.9% during the fourth quarter. Highlander Capital Management LLC now owns 845 shares of the insurance provider’s stock worth $57,000 after buying an additional 500 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Trading Down 0.3 %

Shares of AIG traded down $0.21 during trading hours on Wednesday, hitting $75.12. 1,054,245 shares of the stock traded hands, compared to its average volume of 4,124,478. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.05. American International Group, Inc. has a 1-year low of $56.88 and a 1-year high of $80.83. The firm has a market capitalization of $49.85 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 2.04 and a beta of 1.08. The business has a fifty day moving average of $76.74 and a 200-day moving average of $73.42.

American International Group (NYSE:AIG) last released its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.11. American International Group had a return on equity of 10.54% and a net margin of 9.98%. The firm had revenue of $12.58 billion for the quarter, compared to analyst estimates of $12.04 billion. During the same quarter in the prior year, the firm posted $1.63 earnings per share. Analysts expect that American International Group, Inc. will post 7.02 EPS for the current year.

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.40 dividend. This is a positive change from American International Group’s previous quarterly dividend of $0.36. The ex-dividend date was Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 2.13%. American International Group’s dividend payout ratio is presently 23.88%.

American International Group declared that its board has initiated a share buyback program on Wednesday, May 1st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the insurance provider to repurchase up to 19.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have recently commented on AIG. HSBC lowered American International Group from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a report on Wednesday, May 15th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $87.00 price target on shares of American International Group in a report on Thursday, June 27th. Evercore ISI lowered their price objective 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. BMO Capital Markets boosted their price objective on American International Group from $88.00 to $89.00 and gave the company an “outperform” rating in a research report on Monday, May 13th. Finally, Wells Fargo & Company boosted their price objective on American International Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, May 10th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, American International Group currently has a consensus rating of “Hold” and an average target price of $81.38.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 1,932,609 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the completion of the transaction, the insider now directly owns 292,271,027 shares in the company, valued at $8,534,313,988.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.61% of the stock is currently owned by insiders.

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.