Aristotle Capital Management LLC Sells 458,161 Shares of American International Group, Inc. $AIG

Aristotle Capital Management LLC trimmed its position in shares of American International Group, Inc. (NYSE:AIG) by 4.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 10,529,689 shares of the insurance provider’s stock after selling 458,161 shares during the quarter. American International Group accounts for 1.7% of Aristotle Capital Management LLC’s investment portfolio, making the stock its 27th largest holding. Aristotle Capital Management LLC’s holdings in American International Group were worth $792,364,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AIG. Cannell & Spears LLC grew its position in shares of American International Group by 93.3% during the 1st quarter. Cannell & Spears LLC now owns 5,754 shares of the insurance provider’s stock worth $430,000 after buying an additional 2,778 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in American International Group by 80.9% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 246,666 shares of the insurance provider’s stock worth $18,562,000 after acquiring an additional 110,336 shares in the last quarter. Hilltop Holdings Inc. purchased a new position in American International Group during the 1st quarter valued at about $670,000. Modern Wealth Management LLC bought a new stake in shares of American International Group in the 1st quarter valued at about $452,000. Finally, Caxton Associates LLP raised its holdings in shares of American International Group by 52.0% in the 1st quarter. Caxton Associates LLP now owns 35,551 shares of the insurance provider’s stock valued at $2,675,000 after purchasing an additional 12,169 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Trading Up 1.2%

NYSE AIG opened at $79.09 on Friday. The company’s fifty day moving average price is $76.74 and its two-hundred day moving average price is $76.49. 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 12 month low of $71.25 and a 12 month high of $87.29. The company has a market capitalization of $41.93 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 0.72 and a beta of 0.53.

American International Group (NYSE:AIG) last issued its earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.22. The firm had revenue of $6.65 billion for the quarter, compared to analysts’ expectations 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 last year, the company posted $1.17 earnings per share. As a group, research analysts predict 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 was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.00 annualized dividend and a dividend yield of 2.5%. This is an increase from American International Group’s previous quarterly dividend of $0.45. American International Group’s dividend payout ratio is presently 35.27%.

Wall Street Analyst Weigh In

Several research firms have commented on AIG. Morgan Stanley decreased their price target on shares of American International Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, April 6th. Wells Fargo & Company raised their target price on American International Group from $85.00 to $89.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Mizuho lifted their target price on shares of American International Group from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. BMO Capital Markets boosted their target price on American International Group from $83.00 to $89.00 in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. upped their price target on American International Group from $86.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $88.22.

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.