United Services Automobile Association Trims Stake in American International Group, Inc. (NYSE:AIG)

United Services Automobile Association decreased its stake in shares of American International Group, Inc. (NYSE:AIG) by 4.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,880 shares of the insurance provider’s stock after selling 781 shares during the period. United Services Automobile Association’s holdings in American International Group were worth $1,402,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. TCW Group Inc. purchased a new stake in American International Group during the 4th quarter worth about $724,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of American International Group in the fourth quarter valued at $948,000. Eudaimonia Partners LLC purchased a new position in American International Group during the fourth quarter worth about $635,000. Cetera Investment Advisers boosted its stake in American International Group by 348.6% in the 1st quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock worth $4,506,000 after buying an additional 44,797 shares during the last quarter. Finally, Vinva Investment Management Ltd purchased a new stake in American International Group in the 4th quarter valued at about $1,699,000. 90.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at American International Group

In related news, major shareholder International Group American sold 8,032,129 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total value of $200,000,012.10. Following the completion of the transaction, the insider now directly owns 284,238,898 shares of the company’s stock, valued at approximately $7,077,548,560.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AIG. Bank of America raised their target price on shares of American International Group from $81.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. BMO Capital Markets increased their target price on American International Group from $88.00 to $89.00 and gave the stock an “outperform” rating in a research report on Monday, May 13th. Evercore ISI reduced their target price on American International Group from $81.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, June 27th. Wells Fargo & Company dropped their price target on American International Group from $79.00 to $77.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $87.00 target price on shares of American International Group in a research report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $83.88.

American International Group Stock Up 1.2 %

AIG stock opened at $72.80 on Tuesday. The firm has a fifty day moving average price of $74.99 and a two-hundred day moving average price of $75.66. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. American International Group, Inc. has a 1-year low of $57.72 and a 1-year high of $80.83. The firm has a market cap of $48.32 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 3.58 and a beta of 1.06.

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

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Monday, September 16th. American International Group’s dividend payout ratio (DPR) is 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.