Kovitz Investment Group Partners LLC Sells 24,923 Shares of American International Group, Inc. $AIG

Kovitz Investment Group Partners LLC cut its position in shares of American International Group, Inc. (NYSE:AIG) by 14.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 147,660 shares of the insurance provider’s stock after selling 24,923 shares during the period. Kovitz Investment Group Partners LLC’s holdings in American International Group were worth $12,632,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AIG. Capital Research Global Investors increased its position in American International Group by 79.6% during the third quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider’s stock worth $2,241,091,000 after buying an additional 12,645,616 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of American International Group by 7.9% in the third quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock valued at $2,045,657,000 after buying an additional 1,899,203 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 worth $1,400,613,000 after acquiring an additional 4,661,246 shares during the period. Franklin Resources Inc. boosted its stake in shares of American International Group by 36.9% during the 4th quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock worth $1,336,147,000 after acquiring an additional 4,210,363 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in shares of American International Group by 22.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock worth $805,529,000 after acquiring an additional 1,846,979 shares during the last quarter. 90.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AIG. Mizuho increased their price target on American International Group from $84.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Weiss Ratings downgraded shares of American International Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. UBS Group increased their price objective on shares of American International Group from $92.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, May 4th. The Goldman Sachs Group cut their target price on shares of American International Group from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, June 8th. Finally, Citigroup lifted their target price on shares of American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $87.78.

American International Group Price Performance

Shares of American International Group stock opened at $74.09 on Friday. American International Group, Inc. has a twelve month low of $71.25 and a twelve month high of $87.29. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23. The company has a 50-day simple moving average of $75.98 and a two-hundred day simple moving average of $77.37. The stock has a market capitalization of $39.29 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 0.68 and a beta of 0.52.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.22. American International Group had a net margin of 11.86% and a return on equity of 10.93%. The firm had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $7.03 billion. During the same quarter in the previous year, the firm posted $1.17 EPS. Analysts forecast that American International Group, Inc. will post 7.99 EPS for the current year.

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.7%. This is an increase from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date is Monday, June 15th. American International Group’s dividend payout ratio is presently 35.27%.

American International Group Profile

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.