Everence Capital Management Inc. Decreases Stock Holdings in American International Group, Inc. (NYSE:AIG)

Everence Capital Management Inc. lessened its holdings in American International Group, Inc. (NYSE:AIG) by 14.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,777 shares of the insurance provider’s stock after selling 3,210 shares during the period. Everence Capital Management Inc.’s holdings in American International Group were worth $1,440,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in shares of American International Group by 32.4% during the third quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock worth $1,831,727,000 after purchasing an additional 6,119,996 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in American International Group by 5.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock worth $1,002,163,000 after acquiring an additional 722,237 shares in the last quarter. Franklin Resources Inc. boosted its holdings in American International Group by 5.3% in the 3rd quarter. Franklin Resources Inc. now owns 9,162,465 shares of the insurance provider’s stock worth $713,272,000 after acquiring an additional 457,821 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position in American International Group by 0.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 7,416,240 shares of the insurance provider’s stock valued at $543,091,000 after acquiring an additional 59,180 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake 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 purchasing an additional 269,188 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AIG shares. Keefe, Bruyette & Woods lowered their price target on shares of American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. StockNews.com raised American International Group from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Evercore ISI reduced their price target on American International Group from $79.00 to $78.00 and set an “in-line” rating for the company in a report on Wednesday, October 9th. Wells Fargo & Company dropped their price objective on American International Group from $77.00 to $76.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. Finally, Jefferies Financial Group increased their target price on American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $84.40.

American International Group Stock Performance

Shares of NYSE AIG opened at $72.81 on Friday. 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’s 50-day moving average price is $74.75 and its two-hundred day moving average price is $74.84. American International Group, Inc. has a 52-week low of $66.06 and a 52-week high of $80.83. The stock has a market capitalization of $45.42 billion, a P/E ratio of -21.48, a P/E/G ratio of 7.30 and a beta of 1.05.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) 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 positive return on equity of 8.63% and a negative net margin of 6.19%. During the same quarter last year, the business posted $1.61 EPS. As a group, sell-side analysts forecast that American International Group, Inc. will post 5.12 earnings per share for the current year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 16th were given a dividend of $0.40 per share. The ex-dividend date was Monday, December 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.20%. American International Group’s dividend payout ratio 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.