Nisa Investment Advisors LLC Has $11.14 Million Stock Holdings in American International Group, Inc. (NYSE:AIG)

Nisa Investment Advisors LLC lowered its holdings in shares of American International Group, Inc. (NYSE:AIG) by 6.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 149,990 shares of the insurance provider’s stock after selling 9,850 shares during the period. Nisa Investment Advisors LLC’s holdings in American International Group were worth $11,135,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Essex Financial Services Inc. acquired a new position in shares of American International Group during the 4th quarter valued at $260,000. TCW Group Inc. bought a new position in shares of American International Group during the 4th quarter worth about $724,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of American International Group in the 4th quarter valued at about $948,000. Eudaimonia Partners LLC bought a new stake in American International Group in the 4th quarter valued at about $635,000. Finally, Cetera Investment Advisers raised its stake in American International Group by 348.6% during the 1st quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock worth $4,506,000 after buying an additional 44,797 shares during the period. 90.60% of the stock is currently owned by institutional investors.

American International Group Price Performance

AIG traded up $0.87 during trading on Monday, reaching $74.43. 2,085,121 shares of the company were exchanged, compared to its average volume of 4,209,067. American International Group, Inc. has a 12-month low of $57.02 and a 12-month high of $80.83. The company’s 50-day moving average is $74.87 and its two-hundred day moving average is $75.04. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05. The company has a market cap of $49.40 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 2.48 and a beta of 1.07.

American International Group (NYSE:AIG) last issued its quarterly earnings data 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 positive return on equity of 9.37% and a negative net margin of 1.54%. The business had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter last year, the business posted $1.75 EPS. The company’s quarterly revenue was up .0% on a year-over-year basis. Research analysts forecast that American International Group, Inc. will post 6.4 earnings per share for the current fiscal year.

American International Group Dividend Announcement

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 dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Monday, September 16th. American International Group’s dividend payout ratio (DPR) is presently 23.88%.

American International Group announced that its board has authorized 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 shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

AIG has been the subject of a number of research reports. HSBC cut American International Group from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a research note on Wednesday, May 15th. 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. Citigroup decreased their target price on shares of American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, July 23rd. Evercore ISI dropped their price target on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, June 27th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $87.00 price target on shares of American International Group in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $83.47.

Insider Activity at American International Group

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

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.