Diversify Advisory Services LLC Cuts Holdings in American International Group, Inc. (NYSE:AIG)

Diversify Advisory Services LLC reduced its holdings in shares of American International Group, Inc. (NYSE:AIG) by 53.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,373 shares of the insurance provider’s stock after selling 5,079 shares during the quarter. Diversify Advisory Services LLC’s holdings in American International Group were worth $331,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AIG. Capital Research Global Investors raised its position in shares of American International Group by 0.4% during the 4th quarter. Capital Research Global Investors now owns 41,770,175 shares of the insurance provider’s stock worth $2,829,930,000 after purchasing an additional 176,286 shares during the last quarter. Norges Bank acquired a new stake in American International Group during the 4th quarter valued at $746,005,000. Putnam Investments LLC boosted its holdings in American International Group by 3.8% in the fourth quarter. Putnam Investments LLC now owns 8,245,693 shares of the insurance provider’s stock valued at $558,646,000 after purchasing an additional 300,712 shares during the last quarter. LSV Asset Management grew its position in shares of American International Group by 5.3% during the fourth quarter. LSV Asset Management now owns 5,786,940 shares of the insurance provider’s stock worth $392,065,000 after buying an additional 290,061 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of American International Group by 0.6% in the 1st quarter. Clearbridge Investments LLC now owns 5,440,355 shares of the insurance provider’s stock worth $425,273,000 after purchasing an additional 31,340 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Price Performance

Shares of American International Group stock traded down $0.08 during trading on Friday, reaching $72.06. 3,541,157 shares of the company’s stock were exchanged, compared to its average volume of 4,243,853. The firm’s 50-day moving average price is $75.26 and its 200 day moving average price is $74.89. American International Group, Inc. has a 1-year low of $57.02 and a 1-year high of $80.83. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market cap of $47.82 billion, a P/E ratio of 10.76, a PEG ratio of 2.48 and a beta of 1.07.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.14). The business had revenue of $1.00 million for the quarter, compared to the consensus estimate of $11.64 billion. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.37%. American International Group’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business posted $1.75 EPS. As a group, research analysts anticipate that American International Group, Inc. will post 6.4 earnings per share for the current year.

American International Group Announces Dividend

The firm also recently announced 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. This represents a $1.60 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Monday, September 16th. American International Group’s payout ratio is presently 23.88%.

American International Group declared that its Board of Directors has approved a stock repurchase program on Wednesday, May 1st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to repurchase up to 19.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AIG shares. Bank of America increased their target price on shares of American International Group from $81.00 to $82.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. StockNews.com downgraded shares of American International Group from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. raised their target price on American International Group from $80.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Citigroup dropped their price target on American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, July 23rd. Finally, Morgan Stanley cut their price objective on American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $83.13.

Insider Activity

In related news, major shareholder International Group American sold 1,932,609 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the completion of the sale, the insider now owns 292,271,027 shares in the company, valued at $8,534,313,988.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 39,964,738 shares of company stock worth $1,132,432,195 over the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

About American International Group

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.