Sumitomo Mitsui Trust Holdings Inc. Has $111.44 Million Stock Holdings in American International Group, Inc. (NYSE:AIG)

Sumitomo Mitsui Trust Holdings Inc. cut its stake in shares of American International Group, Inc. (NYSE:AIG) by 17.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,501,083 shares of the insurance provider’s stock after selling 309,080 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.23% of American International Group worth $111,440,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AIG. International Assets Investment Management LLC acquired a new position in shares of American International Group during the 4th quarter valued at $26,590,000. Cerity Partners LLC grew its stake in shares of American International Group by 27.7% during the 4th quarter. Cerity Partners LLC now owns 42,855 shares of the insurance provider’s stock worth $2,903,000 after acquiring an additional 9,295 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of American International Group by 8.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 252,567 shares of the insurance provider’s stock worth $17,111,000 after purchasing an additional 19,339 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in American International Group by 1.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 93,758 shares of the insurance provider’s stock valued at $6,352,000 after buying an additional 1,632 shares in the last quarter. Finally, Xponance Inc. raised its stake in shares of American International Group by 1.9% during the 4th quarter. Xponance Inc. now owns 98,133 shares of the insurance provider’s stock valued at $6,649,000 after purchasing an additional 1,832 shares during the period. Institutional investors own 90.60% of the company’s stock.

American International Group Trading Up 0.2 %

Shares of NYSE:AIG opened at $73.56 on Monday. American International Group, Inc. has a 52-week low of $57.02 and a 52-week high of $80.83. The stock has a market capitalization of $48.82 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 2.48 and a beta of 1.07. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.29 and a current ratio of 0.29. The stock’s 50-day simple moving average is $74.87 and its two-hundred day simple moving average is $75.04.

American International Group (NYSE:AIG) last announced its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.14). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.37%. The business had revenue of $1.00 million for the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter last year, the firm posted $1.75 earnings per share. The business’s quarterly revenue was up .0% compared to the same quarter last year. Analysts expect that American International Group, Inc. will post 6.4 EPS for the current year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.18%. American International Group’s dividend payout ratio (DPR) is 23.88%.

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

Insider Activity at American International Group

In other American International Group news, major shareholder International Group American sold 1,932,609 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total value of $56,432,182.80. Following the completion of the sale, the insider now owns 292,271,027 shares in the company, valued at $8,534,313,988.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last three months, insiders have sold 39,964,738 shares of company stock worth $1,132,432,195. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AIG. HSBC downgraded shares of American International Group from a “buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a research note on Wednesday, May 15th. BMO Capital Markets boosted their price target on American International Group from $88.00 to $89.00 and gave the company an “outperform” rating in a report on Monday, May 13th. Royal Bank of Canada restated an “outperform” rating and issued a $87.00 price objective on shares of American International Group in a report on Tuesday, July 9th. TD Cowen lowered their target price on American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $83.47.

American International Group Profile

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.