Hsbc Holdings PLC Cuts Position in American International Group, Inc. $AIG

Hsbc Holdings PLC decreased its position in American International Group, Inc. (NYSE:AIG) by 18.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,481,688 shares of the insurance provider’s stock after selling 328,952 shares during the quarter. Hsbc Holdings PLC owned 0.28% of American International Group worth $126,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Geneos Wealth Management Inc. grew its holdings 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 valued at $434,000 after purchasing an additional 129 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in American International Group by 2.9% during the second quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock valued at $396,000 after purchasing an additional 130 shares in the last quarter. JFS Wealth Advisors LLC raised its stake in American International Group by 17.7% during the third quarter. JFS Wealth Advisors LLC now owns 872 shares of the insurance provider’s stock valued at $68,000 after purchasing an additional 131 shares in the last quarter. Larson Financial Group LLC lifted its position in American International Group by 12.6% during the fourth quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider’s stock valued at $107,000 after purchasing an additional 140 shares during the last quarter. Finally, One Wealth Capital Management LLC lifted its position in American International Group by 3.7% during the third quarter. One Wealth Capital Management LLC now owns 4,005 shares of the insurance provider’s stock valued at $315,000 after purchasing an additional 144 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Trading Up 0.1%

Shares of AIG opened at $74.09 on Monday. The company’s fifty day simple moving average is $75.91 and its 200-day simple moving average is $77.35. The company has a market cap of $39.29 billion, a P/E ratio of 13.07, a P/E/G ratio of 0.68 and a beta of 0.52. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23. American International Group, Inc. has a twelve month low of $71.25 and a twelve month high of $87.29.

American International Group (NYSE:AIG) last released 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 firm had revenue of $6.65 billion during 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 period in the previous year, the company earned $1.17 EPS. As a group, analysts expect that American International Group, Inc. will post 7.99 EPS for the current year.

American International Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 15th. This is an increase from American International Group’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 2.7%. American International Group’s payout ratio is 35.27%.

Analysts Set New Price Targets

AIG has been the topic of a number of research reports. HSBC boosted their target price on shares of American International Group from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, May 4th. The Goldman Sachs Group dropped their price target on American International Group from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 8th. Cantor Fitzgerald boosted their price objective on American International Group from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Wells Fargo & Company decreased their price objective on 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. Finally, UBS Group raised their price objective on American International Group from $92.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $87.78.

American International Group Company 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.