Legal & General Group Plc Decreases Stock Position in American International Group, Inc. $AIG

Legal & General Group Plc reduced its holdings in shares of American International Group, Inc. (NYSE:AIG) by 6.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,845,946 shares of the insurance provider’s stock after selling 200,647 shares during the quarter. Legal & General Group Plc’s holdings in American International Group were worth $212,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in American International Group by 39.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock valued at $1,400,613,000 after acquiring an additional 4,661,246 shares during the period. Franklin Resources Inc. raised its holdings in shares of American International Group by 36.9% during the fourth quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock valued at $1,336,147,000 after purchasing an additional 4,210,363 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of American International Group by 22.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock valued at $805,529,000 after purchasing an additional 1,846,979 shares during the last quarter. Bank of New York Mellon Corp lifted its position in American International Group by 6.1% during the first quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider’s stock valued at $619,862,000 after purchasing an additional 474,035 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in American International Group by 10.8% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,482,558 shares of the insurance provider’s stock worth $640,133,000 after purchasing an additional 731,802 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Peter Zaffino sold 36,829 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $76.14, for a total transaction of $2,804,160.06. Following the completion of the transaction, the insider directly owned 556,004 shares in the company, valued at approximately $42,334,144.56. This represents a 6.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

AIG has been the topic of a number of research reports. Citigroup raised their price target on American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Piper Sandler raised their target price on American International Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Cantor Fitzgerald reduced their price target on shares of American International Group from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. JPMorgan Chase & Co. raised their price objective on shares of American International Group from $86.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Finally, HSBC cut their target price on shares of American International Group from $94.00 to $88.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Seven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $88.28.

American International Group Stock Up 0.9%

NYSE AIG opened at $77.04 on Thursday. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $87.29. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. The stock has a market cap of $40.28 billion, a PE ratio of 14.08, a P/E/G ratio of 0.70 and a beta of 0.53. The stock’s 50 day moving average is $77.82 and its 200 day moving average is $77.01.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Thursday, August 6th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. American International Group had a net margin of 11.13% and a return on equity of 11.05%. The company had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same period in the previous year, the firm posted $1.81 EPS. Research analysts predict that American International Group, Inc. will post 8.02 EPS for the current fiscal year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. American International Group’s payout ratio is presently 36.56%.

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.