Symmetry Partners LLC Reduces Stake in American International Group, Inc. (NYSE:AIG)

Symmetry Partners LLC reduced its stake in American International Group, Inc. (NYSE:AIG) by 5.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,064 shares of the insurance provider’s stock after selling 603 shares during the quarter. Symmetry Partners LLC’s holdings in American International Group were worth $747,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Capital Research Global Investors grew its holdings in American International Group by 0.4% in the 4th quarter. Capital Research Global Investors now owns 41,770,175 shares of the insurance provider’s stock valued at $2,829,930,000 after buying an additional 176,286 shares in the last quarter. Norges Bank acquired a new position in shares of American International Group in the 4th quarter valued at $746,005,000. Putnam Investments LLC lifted its stake in shares of American International Group by 3.8% in the 4th quarter. Putnam Investments LLC now owns 8,245,693 shares of the insurance provider’s stock valued at $558,646,000 after purchasing an additional 300,712 shares during the last quarter. LSV Asset Management lifted its stake in shares of American International Group by 5.3% in the 4th quarter. LSV Asset Management now owns 5,786,940 shares of the insurance provider’s stock valued at $392,065,000 after purchasing an additional 290,061 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in shares of American International Group by 0.6% in the 1st quarter. Clearbridge Investments LLC now owns 5,440,355 shares of the insurance provider’s stock valued at $425,273,000 after purchasing an additional 31,340 shares during the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AIG has been the topic of several research reports. Wells Fargo & Company decreased their target price on American International Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Friday. Bank of America increased their price objective on American International Group from $81.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $87.00 price objective on shares of American International Group in a report on Thursday, June 27th. Morgan Stanley dropped their price target on American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Finally, Citigroup dropped their price target on American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, American International Group has a consensus rating of “Hold” and an average price target of $83.13.

American International Group Trading Down 0.4 %

Shares of American International Group stock traded down $0.27 during mid-day trading on Friday, hitting $71.87. 1,184,901 shares of the stock were exchanged, compared to its average volume of 4,228,452. The stock has a market capitalization of $47.70 billion, a price-to-earnings ratio of 10.70, a price-to-earnings-growth ratio of 2.48 and a beta of 1.07. American International Group, Inc. has a twelve month low of $57.02 and a twelve month high of $80.83. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.05. The company has a 50-day simple moving average of $75.39 and a 200 day simple moving average of $74.83.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.14). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.37%. The business had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter last year, the firm posted $1.75 earnings per share. The company’s revenue was up .0% on a year-over-year basis. Research analysts forecast that American International Group, Inc. will post 6.4 EPS for the current year.

American International Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.23%. American International Group’s payout ratio is currently 23.88%.

American International Group announced that its Board of Directors has approved a stock repurchase plan on Wednesday, May 1st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to reacquire up to 19.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, major shareholder International Group American sold 1,932,609 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the completion of the transaction, the insider now owns 292,271,027 shares in the company, valued at approximately $8,534,313,988.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 39,964,738 shares of company stock valued at $1,132,432,195. 0.61% of the stock is currently owned by insiders.

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.