Nordea Investment Management AB Cuts Stock Position in American International Group, Inc. $AIG

Nordea Investment Management AB lowered its position in American International Group, Inc. (NYSE:AIG) by 3.7% during the second quarter, Holdings Channel reports. The institutional investor owned 55,000 shares of the insurance provider’s stock after selling 2,095 shares during the quarter. Nordea Investment Management AB’s holdings in American International Group were worth $4,680,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sachetta LLC grew its position in shares of American International Group by 194.5% in the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock worth $33,000 after buying an additional 249 shares during the last quarter. GFG Capital LLC purchased a new position in shares of American International Group in the 2nd quarter worth approximately $33,000. Barrett & Company Inc. purchased a new position in shares of American International Group in the 2nd quarter worth approximately $35,000. Hemington Wealth Management grew its position in shares of American International Group by 42.8% in the 1st quarter. Hemington Wealth Management now owns 474 shares of the insurance provider’s stock worth $41,000 after buying an additional 142 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in shares of American International Group in the 2nd quarter worth approximately $42,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

Shares of NYSE AIG opened at $78.39 on Wednesday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 12 month low of $69.24 and a 12 month high of $88.07. The company has a 50 day simple moving average of $79.98 and a two-hundred day simple moving average of $81.40. The stock has a market cap of $43.43 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 0.77 and a beta of 0.68.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.60 by $0.21. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The business had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the previous year, the business posted $1.16 EPS. As a group, analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, September 16th. American International Group’s payout ratio is presently 34.09%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. UBS Group lifted their target price on shares of American International Group from $90.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. The Goldman Sachs Group lifted their target price on shares of American International Group from $85.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Wolfe Research assumed coverage on shares of American International Group in a research note on Tuesday, September 16th. They issued a “peer perform” rating for the company. Jefferies Financial Group lifted their target price on shares of American International Group from $96.00 to $99.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Finally, Morgan Stanley lowered their target price on shares of American International Group from $85.00 to $84.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.81.

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.