Korea Investment CORP Sells 99,960 Shares of American International Group, Inc. $AIG

Korea Investment CORP cut its holdings in American International Group, Inc. (NYSE:AIG) by 14.7% during the second quarter, Holdings Channel reports. The firm owned 577,735 shares of the insurance provider’s stock after selling 99,960 shares during the quarter. Korea Investment CORP’s holdings in American International Group were worth $43,059,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. EP Wealth Advisors LLC grew its holdings in American International Group by 31.3% during the 2nd quarter. EP Wealth Advisors LLC now owns 12,613 shares of the insurance provider’s stock valued at $940,000 after buying an additional 3,010 shares in the last quarter. Ieq Capital LLC lifted its holdings in shares of American International Group by 29.6% in the second quarter. Ieq Capital LLC now owns 65,907 shares of the insurance provider’s stock worth $4,912,000 after buying an additional 15,040 shares in the last quarter. Callan Family Office LLC boosted its position in shares of American International Group by 2.0% during the second quarter. Callan Family Office LLC now owns 26,313 shares of the insurance provider’s stock worth $1,961,000 after acquiring an additional 512 shares during the last quarter. Allworth Financial LP boosted its position in shares of American International Group by 27.6% during the second quarter. Allworth Financial LP now owns 14,275 shares of the insurance provider’s stock worth $1,064,000 after acquiring an additional 3,085 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG boosted its position in shares of American International Group by 84.7% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 34,506 shares of the insurance provider’s stock worth $2,572,000 after acquiring an additional 15,825 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on AIG. Royal Bank Of Canada lifted their price target on shares of American International Group from $85.00 to $87.00 and gave the company a “sector perform” rating in a report on Monday, August 10th. Wells Fargo & Company dropped their price objective on shares of American International Group from $89.00 to $85.00 and set an “equal weight” rating for the company in a report on Monday, August 10th. BMO Capital Markets raised their price objective on American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. Keefe, Bruyette & Woods raised their price objective on American International Group from $95.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. Finally, Mizuho lifted their target price on American International Group from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Seven research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, American International Group has an average rating of “Hold” and a consensus price target of $88.28.

Insider Buying and Selling at American International Group

In other news, insider Peter Zaffino sold 36,829 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $76.14, for a total value of $2,804,160.06. Following the sale, the insider owned 556,004 shares of the company’s stock, valued at approximately $42,334,144.56. This represents a 6.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company’s stock.

American International Group Price Performance

Shares of American International Group stock opened at $76.30 on Friday. The stock has a market cap of $39.90 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 0.69 and a beta of 0.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61. The stock has a 50 day moving average price of $77.69 and a 200-day moving average price of $76.96. American International Group, Inc. has a one year low of $71.25 and a one year high of $87.29.

American International Group (NYSE:AIG) last released its quarterly earnings results on Thursday, August 6th. The insurance provider reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.08. The company had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.25 billion. American International Group had a return on equity of 11.05% and a net margin of 11.13%.During the same quarter in the prior year, the firm posted $1.81 EPS. Equities analysts expect that American International Group, Inc. will post 8.02 EPS for the current year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. American International Group’s payout ratio is 36.56%.

About American International Group

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.