Brown Advisory Inc. reduced its position in shares of American International Group, Inc. (NYSE:AIG – Free Report) by 11.9% during the fourth quarter, Holdings Channel reports. The firm owned 1,430,478 shares of the insurance provider’s stock after selling 192,378 shares during the period. Brown Advisory Inc.’s holdings in American International Group were worth $122,377,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in AIG. Capital Research Global Investors lifted its position in shares of American International Group by 79.6% during the third quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider’s stock valued at $2,241,091,000 after purchasing an additional 12,645,616 shares in the last quarter. Norges Bank purchased a new stake in American International Group during the fourth quarter worth about $636,782,000. Vanguard Group Inc. increased its holdings in American International Group by 11.6% during the third quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider’s stock worth $5,378,635,000 after buying an additional 7,117,583 shares during the last quarter. Franklin Resources Inc. increased its holdings in American International Group by 36.9% during the fourth quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock worth $1,336,147,000 after buying an additional 4,210,363 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in American International Group by 7.9% during the third quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock worth $2,045,657,000 after buying an additional 1,899,203 shares during the last quarter. 90.60% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the stock. Mizuho raised their price objective on shares of American International Group from $84.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. HSBC raised their price objective on shares of American International Group from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, May 4th. UBS Group raised their price objective on shares of American International Group from $92.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Wells Fargo & Company decreased their price objective on shares of American International Group from $86.00 to $85.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of American International Group from $97.00 to $98.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $87.78.
American International Group Price Performance
AIG opened at $75.60 on Friday. The company has a market capitalization of $40.08 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 0.69 and a beta of 0.52. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $76.07 and a 200-day moving average price of $77.38. American International Group, Inc. has a twelve month low of $71.25 and a twelve month high of $87.29.
American International Group (NYSE:AIG – Get Free Report) last posted its earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share 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 the consensus estimate of $7.03 billion. American International Group had a net margin of 11.86% and a return on equity of 10.93%. During the same quarter last year, the company earned $1.17 earnings per share. Equities analysts expect that American International Group, Inc. will post 7.99 EPS for the current year.
American International Group Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be paid a $0.50 dividend. The ex-dividend date is Monday, June 15th. This is a positive change from American International Group’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 2.6%. American International Group’s dividend payout ratio is 31.75%.
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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