American International Group, Inc. (NYSE:AIG) Stake Reduced by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its stake in American International Group, Inc. (NYSE:AIG) by 19.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 753,289 shares of the insurance provider’s stock after selling 186,205 shares during the quarter. Victory Capital Management Inc. owned approximately 0.12% of American International Group worth $55,163,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Diamond Hill Capital Management Inc. lifted its position in American International Group by 5.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock valued at $1,002,163,000 after purchasing an additional 722,237 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of American International Group by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 6,435,245 shares of the insurance provider’s stock valued at $477,802,000 after buying an additional 269,188 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of American International Group by 0.6% during the first quarter. Clearbridge Investments LLC now owns 5,440,355 shares of the insurance provider’s stock worth $425,273,000 after buying an additional 31,340 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in American International Group by 6.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,148,482 shares of the insurance provider’s stock worth $233,743,000 after buying an additional 198,889 shares in the last quarter. Finally, APG Asset Management N.V. increased its position in American International Group by 13.3% in the 2nd quarter. APG Asset Management N.V. now owns 2,200,252 shares of the insurance provider’s stock valued at $152,411,000 after acquiring an additional 258,700 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

Insider Activity

In other news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the transaction, the insider now owns 279,238,898 shares in the company, valued at $8,058,834,596.28. This represents a 1.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. BMO Capital Markets cut American International Group from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $90.00 to $84.00 in a research note on Tuesday, October 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $87.00 target price on shares of American International Group in a research report on Wednesday, November 6th. Wells Fargo & Company dropped their price target on shares of American International Group from $77.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. StockNews.com upgraded shares of American International Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Finally, Jefferies Financial Group boosted their target price on American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.13.

American International Group Trading Down 0.4 %

NYSE:AIG opened at $75.75 on Friday. The stock has a fifty day simple moving average of $75.09 and a 200 day simple moving average of $75.68. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $47.25 billion, a price-to-earnings ratio of -22.35, a price-to-earnings-growth ratio of 7.41 and a beta of 1.05. American International Group, Inc. has a 1-year low of $63.39 and a 1-year high of $80.83.

American International Group (NYSE:AIG) last released its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.13. The business had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. During the same period last year, the firm posted $1.61 earnings per share. Sell-side analysts forecast that American International Group, Inc. will post 5.13 earnings per share for the current year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s dividend payout ratio (DPR) is currently -47.20%.

American International Group Company 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.