Russell Investments Group Ltd. Cuts Holdings in American International Group, Inc. (NYSE:AIG)

Russell Investments Group Ltd. decreased its holdings in American International Group, Inc. (NYSE:AIG) by 14.6% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,106,537 shares of the insurance provider’s stock after selling 188,632 shares during the period. Russell Investments Group Ltd.’s holdings in American International Group were worth $63,508,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Viewpoint Capital Management LLC boosted its stake in shares of American International Group by 1.7% in the 2nd quarter. Viewpoint Capital Management LLC now owns 42,920 shares of the insurance provider’s stock valued at $2,470,000 after purchasing an additional 700 shares in the last quarter. Clarius Group LLC boosted its stake in shares of American International Group by 12.3% in the 2nd quarter. Clarius Group LLC now owns 7,682 shares of the insurance provider’s stock valued at $442,000 after purchasing an additional 840 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of American International Group by 3.1% in the 2nd quarter. Private Advisor Group LLC now owns 23,116 shares of the insurance provider’s stock valued at $1,348,000 after purchasing an additional 700 shares in the last quarter. Moors & Cabot Inc. boosted its stake in shares of American International Group by 6.6% in the 2nd quarter. Moors & Cabot Inc. now owns 5,971 shares of the insurance provider’s stock valued at $344,000 after purchasing an additional 368 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its holdings in American International Group by 18.3% during the 2nd quarter. Checchi Capital Advisers LLC now owns 5,282 shares of the insurance provider’s stock valued at $304,000 after buying an additional 818 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

American International Group Stock Up 0.6 %

NYSE:AIG opened at $64.48 on Friday. The firm’s 50-day moving average price is $61.64 and its 200-day moving average price is $58.68. The company has a market capitalization of $45.27 billion, a PE ratio of 12.35, a P/E/G ratio of 0.96 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. American International Group, Inc. has a 1-year low of $45.66 and a 1-year high of $64.94.

American International Group (NYSE:AIG) last released its earnings results on Thursday, November 2nd. The insurance provider reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.06. The firm had revenue of $12.77 billion for the quarter, compared to the consensus estimate of $12.62 billion. American International Group had a net margin of 7.87% and a return on equity of 10.66%. During the same period in the prior year, the firm earned $0.66 EPS. On average, equities analysts predict that American International Group, Inc. will post 6.63 EPS for the current fiscal year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 14th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.23%. The ex-dividend date is Wednesday, December 13th. American International Group’s dividend payout ratio (DPR) is 27.59%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. BMO Capital Markets lowered their price target on shares of American International Group from $69.00 to $68.00 and set a “market perform” rating for the company in a report on Tuesday, October 10th. Barclays upped their price target on shares of American International Group from $58.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday, August 4th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of American International Group in a report on Wednesday, October 4th. They set a “buy” rating and a $79.00 price target for the company. Royal Bank of Canada upped their price target on shares of American International Group from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. Finally, StockNews.com assumed coverage on shares of American International Group in a report on Thursday, October 5th. They set a “hold” rating for the company. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $68.71.

Insider Activity at American International Group

In related news, major shareholder International Group American sold 50,000,000 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $20.50, for a total transaction of $1,025,000,000.00. Following the sale, the insider now directly owns 365,413,892 shares of the company’s stock, valued at approximately $7,490,984,786. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.49% of the stock is currently owned by insiders.

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 General Insurance, and Life and Retirement segments. 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.