First Trust Advisors LP Sells 29,268 Shares of American International Group, Inc. $AIG

First Trust Advisors LP lowered its stake in American International Group, Inc. (NYSE:AIG) by 5.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 543,982 shares of the insurance provider’s stock after selling 29,268 shares during the quarter. First Trust Advisors LP’s holdings in American International Group were worth $46,559,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GQG Partners LLC lifted its position in shares of American International Group by 33,315.0% in the first quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider’s stock worth $1,643,995,000 after buying an additional 18,852,949 shares in the last quarter. Franklin Resources Inc. grew its holdings in American International Group by 6.1% during the 2nd quarter. Franklin Resources Inc. now owns 12,536,144 shares of the insurance provider’s stock valued at $1,072,969,000 after buying an additional 716,209 shares in the last quarter. Norges Bank bought a new stake in American International Group in the 2nd quarter worth approximately $787,724,000. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of American International Group by 22.8% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 9,113,636 shares of the insurance provider’s stock worth $792,340,000 after acquiring an additional 1,694,290 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of American International Group during the 1st quarter worth approximately $440,273,000. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

Shares of NYSE:AIG opened at $76.32 on Tuesday. The firm’s 50 day simple moving average is $78.35 and its 200-day simple moving average is $80.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.32 and a current ratio of 1.32. American International Group, Inc. has a one year low of $69.24 and a one year high of $88.07. The firm has a market cap of $41.18 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 0.81 and a beta of 0.62.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $2.20 EPS for the quarter, beating the consensus estimate of $1.57 by $0.63. American International Group had a return on equity of 9.09% and a net margin of 11.89%.The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same quarter last year, the firm posted $1.23 earnings per share. As a group, equities analysts predict that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 16th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, December 16th. American International Group’s payout ratio is 32.73%.

Analyst Ratings Changes

AIG has been the topic of a number of recent research reports. Cfra Research raised shares of American International Group to a “moderate buy” rating in a research note on Monday, August 11th. Barclays cut shares of American International Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $95.00 to $88.00 in a research report on Friday. Citigroup began coverage on American International Group in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $85.00 price target for the company. Wall Street Zen downgraded American International Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Wells Fargo & Company raised their price objective on American International Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 12th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.81.

American International Group Profile

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.