American International Group, Inc. (NYSE:AIG) Stock Holdings Lessened by Brandes Investment Partners LP

Brandes Investment Partners LP cut its stake in American International Group, Inc. (NYSE:AIG) by 8.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,594,563 shares of the insurance provider’s stock after selling 144,285 shares during the quarter. American International Group makes up 1.5% of Brandes Investment Partners LP’s portfolio, making the stock its 24th biggest holding. Brandes Investment Partners LP’s holdings in American International Group were worth $118,450,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC raised its holdings in shares of American International Group by 199.2% during the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 239 shares in the last quarter. Y.D. More Investments Ltd bought a new stake in shares of American International Group during the 2nd quarter worth about $27,000. Rise Advisors LLC acquired a new position in shares of American International Group during the 1st quarter valued at about $29,000. Valued Wealth Advisors LLC raised its stake in shares of American International Group by 303.3% in the 1st quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 276 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in American International Group by 326.0% during the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 339 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Stock Performance

AIG stock opened at $73.34 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a twelve month low of $57.72 and a twelve month high of $80.83. The business’s fifty day moving average is $74.15 and its 200-day moving average is $75.63. The company has a market cap of $48.67 billion, a P/E ratio of 10.95, a price-to-earnings-growth ratio of 3.70 and a beta of 1.06.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). The firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.64 billion. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The business’s revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.75 earnings per share. Equities research analysts forecast that American International Group, Inc. will post 5.24 EPS for the current year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. American International Group’s dividend payout ratio is 23.88%.

Insider Activity

In other American International Group news, major shareholder International Group American sold 1,932,609 shares of American International Group stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the transaction, the insider now directly owns 292,271,027 shares in the company, valued at $8,534,313,988.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold 14,964,738 shares of company stock valued at $400,732,195 in the last quarter. Company insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AIG. Barclays began coverage on shares of American International Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $87.00 target price on shares of American International Group in a research note on Tuesday, July 9th. JPMorgan Chase & Co. increased their price objective on shares of American International Group from $80.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. TD Cowen decreased their price target on American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Finally, Bank of America lifted their price objective on American International Group from $81.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, American International Group currently has an average rating of “Hold” and a consensus target price of $83.88.

American International Group 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.