Handelsbanken Fonder AB Cuts Stock Position in American International Group, Inc. $AIG

Handelsbanken Fonder AB lowered its stake in American International Group, Inc. (NYSE:AIG) by 5.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 126,174 shares of the insurance provider’s stock after selling 7,172 shares during the quarter. Handelsbanken Fonder AB’s holdings in American International Group were worth $10,794,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Geneos Wealth Management Inc. grew its stake in shares of American International Group by 2.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock worth $434,000 after buying an additional 129 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in shares of American International Group by 2.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock worth $396,000 after buying an additional 130 shares during the last quarter. JFS Wealth Advisors LLC grew its stake in shares of American International Group by 17.7% in the 3rd quarter. JFS Wealth Advisors LLC now owns 872 shares of the insurance provider’s stock worth $68,000 after buying an additional 131 shares during the last quarter. Howard Capital Management Inc. grew its stake in shares of American International Group by 3.0% in the 3rd quarter. Howard Capital Management Inc. now owns 4,717 shares of the insurance provider’s stock worth $370,000 after buying an additional 138 shares during the last quarter. Finally, One Wealth Capital Management LLC grew its stake in shares of American International Group by 3.7% in the 3rd quarter. One Wealth Capital Management LLC now owns 4,005 shares of the insurance provider’s stock worth $315,000 after buying an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. UBS Group lifted their target price on American International Group from $92.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, May 4th. The Goldman Sachs Group lifted their target price on American International Group from $87.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Keefe, Bruyette & Woods lifted their target price on American International Group from $97.00 to $98.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Cantor Fitzgerald lifted their target price on American International Group from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Finally, HSBC lifted their target price on American International Group from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $88.06.

American International Group Price Performance

Shares of American International Group stock opened at $78.68 on Friday. American International Group, Inc. has a one year low of $71.25 and a one year high of $87.46. The stock’s fifty day moving average is $76.19 and its 200 day moving average is $77.65. The stock has a market cap of $41.72 billion, a P/E ratio of 13.88, a P/E/G ratio of 0.74 and a beta of 0.53. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65.

American International Group (NYSE:AIG) last announced its earnings results on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.22. The company had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $7.03 billion. American International Group had a return on equity of 10.93% and a net margin of 11.86%.During the same period last year, the firm earned $1.17 EPS. Sell-side analysts anticipate that American International Group, Inc. will post 7.97 earnings per share for the current year.

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.50 per share. This is a boost from American International Group’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, June 15th. American International Group’s payout ratio is 31.75%.

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.