GQG Partners LLC Sells 10,514,028 Shares of American International Group, Inc. $AIG

GQG Partners LLC reduced its stake in American International Group, Inc. (NYSE:AIG) by 99.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 73,409 shares of the insurance provider’s stock after selling 10,514,028 shares during the period. GQG Partners LLC’s holdings in American International Group were worth $5,471,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of AIG. Geneos Wealth Management Inc. lifted its position in shares of American International Group by 2.6% in the second quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock worth $434,000 after buying an additional 129 shares in the last quarter. Westwood Holdings Group Inc. increased its stake in American International Group by 2.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock worth $396,000 after acquiring an additional 130 shares during the last quarter. Larson Financial Group LLC increased its stake in American International Group by 12.6% in the 4th quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider’s stock worth $107,000 after acquiring an additional 140 shares during the last quarter. GW&K Investment Management LLC raised its holdings in shares of American International Group by 8.1% during the 4th quarter. GW&K Investment Management LLC now owns 1,917 shares of the insurance provider’s stock worth $164,000 after acquiring an additional 144 shares in the last quarter. Finally, Kestra Private Wealth Services LLC boosted its position in shares of American International Group by 1.3% during the 1st quarter. Kestra Private Wealth Services LLC now owns 11,048 shares of the insurance provider’s stock valued at $831,000 after acquiring an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Price Performance

American International Group stock opened at $76.30 on Friday. American International Group, Inc. has a 12-month low of $71.25 and a 12-month high of $87.29. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $77.69 and a 200-day moving average price of $76.96. The firm has a market capitalization of $39.90 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 0.69 and a beta of 0.53.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Thursday, August 6th. The insurance provider reported $2.00 EPS for the quarter, beating the consensus estimate of $1.92 by $0.08. American International Group had a net margin of 11.13% and a return on equity of 11.05%. The company had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same period in the prior year, the firm posted $1.81 EPS. As a group, equities research analysts forecast that American International Group, Inc. will post 8.02 EPS for the current year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Wednesday, September 16th. American International Group’s payout ratio is 36.56%.

Insider Activity at American International Group

In other news, insider Peter Zaffino sold 200,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $76.47, for a total value of $15,294,000.00. Following the sale, the insider directly owned 592,833 shares in the company, valued at approximately $45,333,939.51. This represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on AIG. UBS Group boosted their price target on shares of American International Group from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Royal Bank Of Canada increased their price objective on shares of American International Group from $85.00 to $87.00 and gave the company a “sector perform” rating in a research report on Monday, August 10th. Citigroup lifted their price objective on shares of American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. The Goldman Sachs Group upped their target price on shares of American International Group from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Finally, Mizuho increased their price target on shares of American International Group from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Seven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $88.28.

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.