Capital Research Global Investors Sells 2,326,001 Shares of American International Group, Inc. $AIG

Capital Research Global Investors trimmed its position in American International Group, Inc. (NYSE:AIG) by 8.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 26,208,447 shares of the insurance provider’s stock after selling 2,326,001 shares during the quarter. Capital Research Global Investors’ holdings in American International Group were worth $2,242,136,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in American International Group by 11.6% in the third quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider’s stock valued at $5,378,635,000 after acquiring an additional 7,117,583 shares during the last quarter. Wellington Management Group LLP increased its stake in American International Group by 7.9% in the third quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock valued at $2,045,657,000 after acquiring an additional 1,899,203 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in American International Group by 4.3% in the third quarter. Diamond Hill Capital Management Inc. now owns 12,111,405 shares of the insurance provider’s stock valued at $951,230,000 after acquiring an additional 499,330 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in American International Group by 22.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock valued at $805,529,000 after acquiring an additional 1,846,979 shares during the last quarter. Finally, Norges Bank bought a new position in American International Group in the fourth quarter valued at approximately $636,782,000. 90.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AIG has been the topic of a number of research analyst reports. Bank of America cut their target price on shares of American International Group from $80.00 to $79.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. BMO Capital Markets raised their target price on shares of American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. Piper Sandler cut their target price on shares of American International Group from $95.00 to $88.00 and set an “overweight” rating on the stock in a research report on Thursday, February 12th. HSBC raised their target price on shares of American International Group from $89.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, Wells Fargo & Company cut their target price on shares of American International Group from $86.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 6th. One equities research 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 stock. According to data from MarketBeat.com, American International Group has an average rating of “Hold” and a consensus price target of $88.06.

American International Group Price Performance

Shares of NYSE:AIG opened at $75.51 on Friday. The firm has a market cap of $40.03 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 0.69 and a beta of 0.52. The firm’s fifty day moving average is $76.04 and its 200-day moving average is $77.44. 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, Inc. has a 52 week low of $71.25 and a 52 week high of $87.46.

American International Group (NYSE:AIG) last issued its quarterly 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 analyst estimates 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 in the previous year, the business earned $1.17 earnings per share. Sell-side analysts predict that American International Group, Inc. will post 7.99 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. Stockholders of record on Monday, June 15th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. 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 dividend payout ratio (DPR) is presently 31.75%.

American International Group 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.