Epoch Investment Partners Inc. Trims Stock Position in American International Group, Inc. (NYSE:AIG)

Epoch Investment Partners Inc. lowered its stake in shares of American International Group, Inc. (NYSE:AIG) by 14.1% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 6,979 shares of the insurance provider’s stock after selling 1,144 shares during the period. Epoch Investment Partners Inc.’s holdings in American International Group were worth $546,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. LRI Investments LLC purchased a new stake in American International Group during the 1st quarter worth approximately $112,000. Senator Investment Group LP lifted its holdings in American International Group by 41.0% in the first quarter. Senator Investment Group LP now owns 1,517,466 shares of the insurance provider’s stock valued at $118,620,000 after acquiring an additional 441,048 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in American International Group by 98.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,893,990 shares of the insurance provider’s stock valued at $148,053,000 after acquiring an additional 941,607 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in American International Group by 1.1% in the first quarter. Westwood Holdings Group Inc. now owns 1,391,048 shares of the insurance provider’s stock valued at $108,738,000 after acquiring an additional 15,428 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in American International Group by 27.8% in the first quarter. Advisors Asset Management Inc. now owns 17,459 shares of the insurance provider’s stock valued at $1,365,000 after acquiring an additional 3,793 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 1,932,609 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 292,271,027 shares in the company, valued at $8,534,313,988.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AIG shares. JPMorgan Chase & Co. boosted their target price on American International Group from $80.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Bank of America dropped their price objective on American International Group from $84.00 to $81.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Royal Bank of Canada reissued an “outperform” rating and set a $87.00 price target on shares of American International Group in a report on Tuesday, July 9th. Piper Sandler raised their price target on American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Finally, BMO Capital Markets lifted their price objective on American International Group from $88.00 to $89.00 and gave the company an “outperform” rating in a report on Monday, May 13th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $82.50.

American International Group Stock Up 2.6 %

Shares of AIG traded up $1.99 during mid-day trading on Friday, hitting $77.24. 3,681,487 shares of the company’s stock were exchanged, compared to its average volume of 4,334,715. The firm has a fifty day moving average of $76.11 and a two-hundred day moving average of $74.47. American International Group, Inc. has a twelve month low of $57.02 and a twelve month high of $80.83. The stock has a market cap of $51.26 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 2.53 and a beta of 1.08. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.11. American International Group had a net margin of 9.98% and a return on equity of 10.54%. The company had revenue of $12.58 billion for the quarter, compared to analyst estimates of $12.04 billion. During the same period last year, the business posted $1.63 EPS. On average, sell-side analysts forecast that American International Group, Inc. will post 6.4 earnings per share for the current year.

American International Group declared that its board has approved a stock buyback plan on Wednesday, May 1st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to purchase up to 19.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.40 per share. This is a boost from American International Group’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. American International Group’s payout ratio is currently 23.88%.

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.