Conning Inc. Sells 205 Shares of American International Group, Inc. $AIG

Conning Inc. decreased its holdings in shares of American International Group, Inc. (NYSE:AIG) by 5.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,841 shares of the insurance provider’s stock after selling 205 shares during the period. Conning Inc.’s holdings in American International Group were worth $329,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sachetta LLC raised its holdings in shares of American International Group by 194.5% during the first quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 249 shares in the last quarter. GFG Capital LLC bought a new position in American International Group in the 2nd quarter worth $33,000. Barrett & Company Inc. bought a new position in American International Group in the 2nd quarter worth $35,000. Hemington Wealth Management raised its holdings in American International Group by 42.8% in the 1st quarter. Hemington Wealth Management now owns 474 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 142 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in American International Group in the 2nd quarter worth $42,000. Institutional investors own 90.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AIG shares. Wall Street Zen raised shares of American International Group from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. William Blair raised American International Group to a “strong-buy” rating in a research report on Friday, August 1st. Cantor Fitzgerald raised American International Group to a “hold” rating in a research report on Tuesday, August 12th. Cfra Research upgraded American International Group to a “moderate buy” rating in a report on Monday, August 11th. Finally, Citigroup initiated coverage on American International Group in a report on Wednesday, August 13th. They issued a “neutral” rating and a $85.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $89.53.

American International Group Stock Down 2.2%

AIG stock opened at $81.34 on Friday. American International Group, Inc. has a twelve month low of $69.24 and a twelve month high of $88.07. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. The firm has a market cap of $45.06 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 0.86 and a beta of 0.68. The business has a 50 day moving average of $79.80 and a 200 day moving average of $81.66.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.21. American International Group had a return on equity of 7.88% and a net margin of 11.51%.The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same period last year, the company earned $1.16 earnings per share. On average, research analysts forecast that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Tuesday, September 16th. American International Group’s dividend payout ratio (DPR) is currently 34.09%.

About American International Group

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.