First Trust Advisors LP Trims Stock Holdings in American International Group, Inc. $AIG

First Trust Advisors LP lowered its stake in shares of American International Group, Inc. (NYSE:AIG) by 20.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 970,662 shares of the insurance provider’s stock after selling 256,414 shares during the period. First Trust Advisors LP owned 0.18% of American International Group worth $73,042,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AIG. Modus Advisors LLC acquired a new stake in shares of American International Group during the 4th quarter worth about $27,000. Navalign LLC acquired a new position in shares of American International Group in the fourth quarter valued at approximately $29,000. Mcguire Capital Advisors Inc. acquired a new position in shares of American International Group in the fourth quarter valued at approximately $29,000. SHP Wealth Management purchased a new position in shares of American International Group during the fourth quarter valued at approximately $34,000. Finally, CENTRAL TRUST Co lifted its stake in shares of American International Group by 48.7% during the first quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock valued at $35,000 after buying an additional 151 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Trading Up 1.2%

AIG stock opened at $79.09 on Friday. 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 market cap of $41.93 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 0.73 and a beta of 0.53. The business has a fifty day simple moving average of $76.74 and a 200-day simple moving average of $76.49. American International Group, Inc. has a 52 week low of $71.25 and a 52 week high of $87.29.

American International Group (NYSE:AIG) last issued its earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.22. American International Group had a return on equity of 10.93% and a net margin of 11.86%.The firm had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $7.03 billion. During the same quarter last year, the firm earned $1.17 earnings per share. On average, equities research analysts expect that American International Group, Inc. will post 7.97 EPS for the current year.

American International Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were issued a $0.50 dividend. This is a positive change from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date was Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.5%. American International Group’s dividend payout ratio (DPR) is 35.27%.

Wall Street Analysts Forecast Growth

Several analysts have commented on AIG shares. Bank of America lowered their target price on shares of American International Group from $80.00 to $79.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Keefe, Bruyette & Woods dropped their target price on American International Group from $98.00 to $95.00 and set an “outperform” rating for the company in a research note on Wednesday, July 8th. Piper Sandler reiterated a “neutral” rating and set a $80.00 target price (down from $88.00) on shares of American International Group in a research report on Wednesday, July 15th. Weiss Ratings raised American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Finally, HSBC lowered their price target on American International Group from $94.00 to $88.00 and set a “buy” rating for the company in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, American International Group currently has a consensus rating of “Hold” and an average target price of $88.22.

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.