Morningstar Investment Services LLC Trims Stock Holdings in American International Group Inc (NYSE:AIG)

Morningstar Investment Services LLC reduced its stake in American International Group Inc (NYSE:AIG) by 5.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 155,033 shares of the insurance provider’s stock after selling 9,009 shares during the period. Morningstar Investment Services LLC’s holdings in American International Group were worth $4,756,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AIG. Diamond Hill Capital Management Inc. increased its stake in American International Group by 64.3% during the first quarter. Diamond Hill Capital Management Inc. now owns 14,371,178 shares of the insurance provider’s stock worth $348,501,000 after purchasing an additional 5,623,984 shares during the period. Pzena Investment Management LLC increased its stake in American International Group by 48.2% during the first quarter. Pzena Investment Management LLC now owns 15,884,497 shares of the insurance provider’s stock worth $385,199,000 after purchasing an additional 5,168,010 shares during the period. Invesco Ltd. increased its stake in American International Group by 11.1% during the first quarter. Invesco Ltd. now owns 23,949,724 shares of the insurance provider’s stock worth $580,779,000 after purchasing an additional 2,399,106 shares during the period. Ceredex Value Advisors LLC purchased a new stake in American International Group during the first quarter worth about $31,788,000. Finally, Janus Henderson Group PLC increased its stake in American International Group by 23.7% during the first quarter. Janus Henderson Group PLC now owns 3,532,860 shares of the insurance provider’s stock worth $85,671,000 after purchasing an additional 677,964 shares during the period. Hedge funds and other institutional investors own 90.08% of the company’s stock.

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of American International Group from $49.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 5th. They noted that the move was a valuation call. Bank of America assumed coverage on shares of American International Group in a research note on Monday, June 1st. They set a “neutral” rating on the stock. Royal Bank of Canada cut their target price on shares of American International Group from $45.00 to $38.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. ValuEngine upgraded shares of American International Group from a “sell” rating to a “hold” rating in a research note on Thursday, June 4th. Finally, UBS Group cut their target price on shares of American International Group from $49.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. American International Group has a consensus rating of “Hold” and an average price target of $44.23.

AIG traded up $0.36 on Friday, reaching $32.14. The company’s stock had a trading volume of 6,245,205 shares, compared to its average volume of 5,844,134. The stock has a 50 day moving average of $31.18 and a two-hundred day moving average of $34.22. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $27.68 billion, a price-to-earnings ratio of 6.47, a P/E/G ratio of 1.24 and a beta of 1.46. American International Group Inc has a fifty-two week low of $16.07 and a fifty-two week high of $58.66.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Monday, May 4th. The insurance provider reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.72). The business had revenue of $10.92 billion during the quarter, compared to analyst estimates of $11.58 billion. American International Group had a net margin of 8.59% and a return on equity of 4.31%. During the same period last year, the company earned $1.58 earnings per share. As a group, analysts anticipate that American International Group Inc will post 2.6 earnings per share for the current fiscal year.

American International Group Profile

American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, crop, and marine insurance.

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Institutional Ownership by Quarter for American International Group (NYSE:AIG)

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