Pictet Asset Management Holding SA Cuts Position in American International Group, Inc. $AIG

Pictet Asset Management Holding SA decreased its holdings in shares of American International Group, Inc. (NYSE:AIG) by 5.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 268,053 shares of the insurance provider’s stock after selling 14,992 shares during the period. Pictet Asset Management Holding SA’s holdings in American International Group were worth $22,932,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Golden State Equity Partners grew its stake in shares of American International Group by 5.8% in the 4th quarter. Golden State Equity Partners now owns 6,831 shares of the insurance provider’s stock worth $584,000 after buying an additional 375 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in American International Group by 9.4% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 350,682 shares of the insurance provider’s stock valued at $30,000,000 after buying an additional 29,990 shares during the last quarter. Resonant Capital Advisors LLC purchased a new position in American International Group during the fourth quarter valued at $224,000. Concurrent Investment Advisors LLC boosted its holdings in American International Group by 34.3% in the fourth quarter. Concurrent Investment Advisors LLC now owns 15,575 shares of the insurance provider’s stock worth $1,332,000 after acquiring an additional 3,980 shares in the last quarter. Finally, Calamos Wealth Management LLC grew its stake in shares of American International Group by 13.5% in the fourth quarter. Calamos Wealth Management LLC now owns 3,494 shares of the insurance provider’s stock worth $299,000 after acquiring an additional 415 shares during the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Barclays reduced their price target on American International Group from $79.00 to $78.00 and set an “equal weight” rating for the company in a report on Tuesday, April 7th. UBS Group cut their price objective on shares of American International Group from $94.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. HSBC reduced their price objective on shares of American International Group from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Morgan Stanley decreased their target price on shares of American International Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, April 6th. Finally, JPMorgan Chase & Co. dropped their target price on shares of American International Group from $97.00 to $86.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, American International Group currently has a consensus rating of “Hold” and a consensus target price of $86.76.

American International Group Stock Performance

AIG opened at $74.82 on Friday. The company’s 50 day moving average is $76.85 and its 200 day moving average is $77.85. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. The company has a market cap of $40.17 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 0.56 and a beta of 0.59. American International Group, Inc. has a 12-month low of $71.25 and a 12-month high of $87.46.

American International Group (NYSE:AIG) last announced its earnings results on Thursday, April 30th. The insurance provider reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.22. American International Group had a net margin of 11.56% and a return on equity of 9.79%. The business had revenue of $7.02 billion during the quarter, compared to analysts’ expectations of $7.03 billion. During the same period in the prior year, the company earned $1.17 earnings per share. On average, equities research analysts predict that American International Group, Inc. will post 7.75 EPS for the current year.

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be paid a $0.50 dividend. This is a positive change from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date is Monday, June 15th. This represents a $2.00 annualized dividend and a dividend yield of 2.7%. American International Group’s dividend payout ratio (DPR) is currently 33.21%.

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.