American International Group, Inc. $AIG Position Lowered by Legal & General Group Plc

Legal & General Group Plc trimmed its position in American International Group, Inc. (NYSE:AIG) by 0.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,386,668 shares of the insurance provider’s stock after selling 10,683 shares during the period. Legal & General Group Plc owned 0.63% of American International Group worth $265,989,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AIG. Norges Bank bought a new position in American International Group during the 2nd quarter worth approximately $787,724,000. Vanguard Group Inc. increased its holdings in shares of American International Group by 11.6% in the 3rd quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider’s stock valued at $5,378,635,000 after acquiring an additional 7,117,583 shares during the last quarter. Viking Global Investors LP acquired a new stake in shares of American International Group during the 2nd quarter valued at approximately $155,413,000. Jupiter Asset Management Ltd. lifted its stake in American International Group by 2,157.0% during the third quarter. Jupiter Asset Management Ltd. now owns 1,615,618 shares of the insurance provider’s stock worth $126,891,000 after purchasing an additional 1,544,037 shares during the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich bought a new position in American International Group during the third quarter worth $77,054,000. 90.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on AIG. Mizuho boosted their target price on shares of American International Group from $83.00 to $86.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. Bank of America reduced their price target on shares of American International Group from $89.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, January 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of American International Group in a report on Monday, December 29th. Barclays lowered their price objective on shares of American International Group from $81.00 to $79.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 11th. Finally, Wells Fargo & Company raised their target price on shares of American International Group from $85.00 to $87.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, American International Group has an average rating of “Hold” and a consensus target price of $87.95.

American International Group Price Performance

Shares of NYSE AIG opened at $77.99 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61. The firm has a market capitalization of $41.84 billion, a PE ratio of 14.39, a P/E/G ratio of 0.60 and a beta of 0.58. American International Group, Inc. has a 1-year low of $71.25 and a 1-year high of $88.07. The business’s fifty day moving average price is $77.04 and its two-hundred day moving average price is $78.83.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.06. The company had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.99 billion. American International Group had a net margin of 11.56% and a return on equity of 9.79%. During the same quarter in the previous year, the company posted $1.30 earnings per share. On average, research analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Monday, March 16th. American International Group’s payout ratio is presently 33.21%.

American International Group Company 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.