Securian Asset Management Inc. Reduces Stock Position in American International Group, Inc. (NYSE:AIG)

Securian Asset Management Inc. lowered its position in American International Group, Inc. (NYSE:AIG) by 7.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,160 shares of the insurance provider’s stock after selling 3,189 shares during the period. Securian Asset Management Inc.’s holdings in American International Group were worth $2,833,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Czech National Bank boosted its position in shares of American International Group by 2.4% in the 2nd quarter. Czech National Bank now owns 126,469 shares of the insurance provider’s stock worth $9,389,000 after buying an additional 2,945 shares in the last quarter. Sitrin Capital Management LLC grew its stake in American International Group by 0.3% during the 2nd quarter. Sitrin Capital Management LLC now owns 91,883 shares of the insurance provider’s stock valued at $6,821,000 after purchasing an additional 313 shares in the last quarter. Curated Wealth Partners LLC raised its stake in shares of American International Group by 199.6% in the 2nd quarter. Curated Wealth Partners LLC now owns 22,616 shares of the insurance provider’s stock valued at $1,679,000 after purchasing an additional 45,320 shares in the last quarter. Sendero Wealth Management LLC grew its position in shares of American International Group by 1.7% during the 2nd quarter. Sendero Wealth Management LLC now owns 32,631 shares of the insurance provider’s stock valued at $2,423,000 after buying an additional 553 shares during the last quarter. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of American International Group during the 2nd quarter worth approximately $213,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at American International Group

In other American International Group news, major shareholder International Group American sold 8,032,129 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the transaction, the insider now directly owns 284,238,898 shares in the company, valued at approximately $7,077,548,560.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 39,964,738 shares of company stock worth $1,132,432,195 over the last 90 days. 0.61% of the stock is owned by insiders.

American International Group Price Performance

Shares of AIG traded down $0.42 during trading hours on Monday, hitting $71.64. 1,705,398 shares of the company were exchanged, compared to its average volume of 4,227,369. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.29 and a quick ratio of 0.29. American International Group, Inc. has a one year low of $57.02 and a one year high of $80.83. The company has a market capitalization of $47.55 billion, a PE ratio of 10.71, a PEG ratio of 2.48 and a beta of 1.07. The firm has a fifty day simple moving average of $75.26 and a 200-day simple moving average of $74.93.

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

American International Group declared that its board has authorized a share 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 reacquire up to 19.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.23%. American International Group’s dividend payout ratio (DPR) is currently 23.88%.

Wall Street Analysts Forecast Growth

AIG has been the subject of several recent analyst reports. BMO Capital Markets upped their target price on shares of American International Group from $88.00 to $89.00 and gave the stock an “outperform” rating in a research report on Monday, May 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $87.00 price objective on shares of American International Group in a report on Tuesday, July 9th. JPMorgan Chase & Co. boosted their price target on American International Group from $80.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Wells Fargo & Company lowered their price target on American International Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Evercore ISI reduced their price objective on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating for the company in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $83.33.

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.