Hsbc Holdings PLC Cuts Holdings in American International Group, Inc. (NYSE:AIG)

Hsbc Holdings PLC lowered its stake in shares of American International Group, Inc. (NYSE:AIG) by 15.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,465,983 shares of the insurance provider’s stock after selling 441,771 shares during the quarter. Hsbc Holdings PLC owned approximately 0.37% of American International Group worth $182,949,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC lifted its stake in American International Group by 7.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 87,204 shares of the insurance provider’s stock worth $6,424,000 after purchasing an additional 6,241 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of American International Group by 9.3% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,184 shares of the insurance provider’s stock valued at $830,000 after purchasing an additional 954 shares during the period. Renaissance Technologies LLC purchased a new stake in American International Group during the 2nd quarter valued at $20,123,000. Citizens Financial Group Inc. RI purchased a new stake in American International Group in the 2nd quarter worth approximately $334,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of American International Group by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 6,435,245 shares of the insurance provider’s stock valued at $477,802,000 after acquiring an additional 269,188 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analysts Set New Price Targets

AIG has been the topic of several recent analyst reports. Barclays initiated coverage on shares of American International Group in a report on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 price target on the stock. Wells Fargo & Company decreased their price target on shares of American International Group from $79.00 to $77.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Evercore ISI lowered their price target on American International Group from $81.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, June 27th. Morgan Stanley reduced their target price on American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $87.00 price objective on shares of American International Group in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, American International Group has an average rating of “Hold” and a consensus price target of $83.88.

Insiders Place Their Bets

In other news, major shareholder International Group American sold 1,932,609 shares of American International Group stock in a transaction that occurred on 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 transaction, the insider now owns 292,271,027 shares in the company, valued at approximately $8,534,313,988.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.61% of the stock is currently owned by insiders.

American International Group Stock Performance

NYSE AIG opened at $73.60 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $48.85 billion, a PE ratio of 10.99, a P/E/G ratio of 3.60 and a beta of 1.06. American International Group, Inc. has a 1-year low of $57.72 and a 1-year high of $80.83. The business has a 50 day simple moving average of $74.73 and a two-hundred day simple moving average of $75.70.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The business had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the company earned $1.75 EPS. American International Group’s revenue for the quarter was up .0% compared to the same quarter last year. On average, research analysts predict that American International Group, Inc. will post 5.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 annualized dividend and a yield of 2.17%. American International Group’s dividend payout ratio is currently 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.