Gateway Investment Advisers LLC Has $223,000 Holdings in American International Group, Inc. (NYSE:AIG)

Gateway Investment Advisers LLC reduced its holdings in American International Group, Inc. (NYSE:AIG) by 7.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,857 shares of the insurance provider’s stock after selling 225 shares during the quarter. Gateway Investment Advisers LLC’s holdings in American International Group were worth $223,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Nordea Investment Management AB boosted its holdings in shares of American International Group by 18.7% in the 4th quarter. Nordea Investment Management AB now owns 2,032,907 shares of the insurance provider’s stock worth $138,014,000 after acquiring an additional 319,948 shares in the last quarter. American Century Companies Inc. lifted its holdings in American International Group by 22.6% during the 3rd quarter. American Century Companies Inc. now owns 422,852 shares of the insurance provider’s stock worth $25,625,000 after buying an additional 77,874 shares in the last quarter. Essex Financial Services Inc. acquired a new position in American International Group during the 4th quarter worth $260,000. TCW Group Inc. acquired a new position in American International Group during the 4th quarter worth $724,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in American International Group during the 4th quarter worth $948,000. 90.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder International Group American sold 30,000,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $29.20, for a total value of $876,000,000.00. Following the completion of the transaction, the insider now owns 294,203,636 shares in the company, valued at approximately $8,590,746,171.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on AIG. HSBC downgraded American International Group from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a report on Wednesday, May 15th. JPMorgan Chase & Co. upped their price objective on American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Morgan Stanley increased their price target on American International Group from $72.00 to $79.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Citigroup increased their price target on American International Group from $79.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Bank of America increased their price target on American International Group from $82.00 to $84.00 and gave the company a “neutral” rating in a research note on Tuesday, June 11th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $81.50.

American International Group Price Performance

AIG stock opened at $74.49 on Thursday. The stock has a 50-day moving average price of $76.67 and a two-hundred day moving average price of $73.13. The stock has a market cap of $49.44 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 2.05 and a beta of 1.08. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.05. American International Group, Inc. has a 1 year low of $55.40 and a 1 year high of $80.83.

American International Group (NYSE:AIG) last released its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.11. The firm had revenue of $12.58 billion during the quarter, compared to analysts’ expectations of $12.04 billion. American International Group had a return on equity of 10.54% and a net margin of 9.98%. During the same quarter in the prior year, the company earned $1.63 EPS. Equities analysts forecast that American International Group, Inc. will post 7.02 EPS for the current fiscal year.

American International Group declared that its Board of Directors has authorized a stock buyback plan on Wednesday, May 1st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the insurance provider to buy up to 19.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.40 dividend. This is a boost from American International Group’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, June 14th. This represents a $1.60 annualized dividend and a dividend yield of 2.15%. American International Group’s dividend payout ratio (DPR) is presently 23.88%.

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.