American International Group, Inc. $AIG Position Reduced by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP trimmed its position in American International Group, Inc. (NYSE:AIG) by 29.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,032 shares of the insurance provider’s stock after selling 9,931 shares during the quarter. Baker Avenue Asset Management LP’s holdings in American International Group were worth $2,056,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of American International Group by 11.6% in the 3rd 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 in the last quarter. Capital Research Global Investors grew its position in American International Group by 79.6% during the 3rd quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider’s stock worth $2,241,091,000 after purchasing an additional 12,645,616 shares in the last quarter. Wellington Management Group LLP raised its stake in American International Group by 7.9% during the 3rd quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock valued at $2,045,657,000 after purchasing an additional 1,899,203 shares during the period. Diamond Hill Capital Management Inc. raised its stake in American International Group by 4.3% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 12,111,405 shares of the insurance provider’s stock valued at $951,230,000 after purchasing an additional 499,330 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 1,846,979 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AIG shares. UBS Group increased their price objective on American International Group from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Citigroup lifted their target price on American International Group from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Piper Sandler reduced their price target on shares of American International Group from $95.00 to $88.00 and set an “overweight” rating for the company in a research report on Thursday, February 12th. Wells Fargo & Company decreased their price target 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 upped their price objective on shares of American International Group from $97.00 to $98.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $88.06.

American International Group Trading Down 1.3%

American International Group stock opened at $74.33 on Friday. The company’s fifty day moving average price is $76.13 and its two-hundred day moving average price is $77.59. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65. American International Group, Inc. has a one year low of $71.25 and a one year high of $87.46. The company has a market capitalization of $39.41 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 0.69 and a beta of 0.53.

American International Group (NYSE:AIG) 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. American International Group had a return on equity of 10.93% and a net margin of 11.86%.The firm had revenue of $6.65 billion during the quarter, compared to analyst estimates of $7.03 billion. During the same period in the previous year, the company earned $1.17 EPS. On average, analysts forecast that American International Group, Inc. will post 7.97 earnings per share for the current fiscal year.

American International Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.00 annualized dividend and a dividend yield of 2.7%. This is a boost from American International Group’s previous quarterly dividend of $0.45. American International Group’s payout ratio is presently 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.