Hsbc Holdings PLC decreased its holdings in American International Group, Inc. (NYSE:AIG – Free Report) by 18.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,481,688 shares of the insurance provider’s stock after selling 328,952 shares during the quarter. Hsbc Holdings PLC’s holdings in American International Group were worth $126,952,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Modus Advisors LLC bought a new position in shares of American International Group in the fourth quarter worth about $27,000. Navalign LLC bought a new stake in American International Group during the 4th quarter valued at about $29,000. Mcguire Capital Advisors Inc. bought a new stake in American International Group during the 4th quarter valued at about $29,000. SHP Wealth Management purchased a new stake in American International Group in the 4th quarter valued at about $34,000. Finally, Aventura Private Wealth LLC bought a new position in American International Group in the 4th quarter worth about $39,000. 90.60% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on AIG shares. JPMorgan Chase & Co. reduced their target price on shares of American International Group from $97.00 to $86.00 and set a “neutral” rating on the stock in a research report on Monday, April 20th. Citigroup lifted their target price on American International Group from $85.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. The Goldman Sachs Group lowered their price objective on shares of American International Group from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, June 8th. Weiss Ratings cut shares of American International Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 16th. Finally, Mizuho raised their target price on shares of American International Group from $84.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, American International Group currently has an average rating of “Hold” and a consensus price target of $87.78.
American International Group Stock Up 0.1%
Shares of NYSE AIG opened at $74.09 on Monday. American International Group, Inc. has a 12-month low of $71.25 and a 12-month high of $87.29. The stock’s fifty day simple moving average is $75.91 and its two-hundred day simple moving average is $77.35. The stock has a market capitalization of $39.29 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 0.68 and a beta of 0.52. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23.
American International Group (NYSE:AIG – Get Free Report) last released its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, topping the consensus estimate of $1.89 by $0.22. The firm had revenue of $6.65 billion during the quarter, compared to analyst estimates 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 in the previous year, the company posted $1.17 EPS. As a group, analysts expect that American International Group, Inc. will post 7.99 EPS for the current fiscal year.
American International Group Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.7%. This is a boost from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date is Monday, June 15th. American International Group’s payout ratio is presently 35.27%.
About American International Group
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.
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