American International Group, Inc. (NYSE:AIG) is Nepsis Inc.’s 6th Largest Position

Nepsis Inc. decreased its position in American International Group, Inc. (NYSE:AIGFree Report) by 7.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 262,346 shares of the insurance provider’s stock after selling 20,238 shares during the quarter. American International Group accounts for approximately 5.5% of Nepsis Inc.’s portfolio, making the stock its 6th largest position. Nepsis Inc.’s holdings in American International Group were worth $20,508,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in AIG. Norges Bank purchased a new position in shares of American International Group in the 4th quarter valued at about $746,005,000. Balyasny Asset Management L.P. boosted its holdings in shares of American International Group by 95.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,221,724 shares of the insurance provider’s stock valued at $82,772,000 after buying an additional 597,661 shares in the last quarter. Third Point LLC boosted its stake in American International Group by 16.9% in the fourth quarter. Third Point LLC now owns 3,450,000 shares of the insurance provider’s stock valued at $233,738,000 after acquiring an additional 500,000 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in shares of American International Group by 55.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,336,355 shares of the insurance provider’s stock valued at $80,983,000 after purchasing an additional 476,104 shares during the period. Finally, Junto Capital Management LP grew its stake in American International Group by 29.2% during the 4th quarter. Junto Capital Management LP now owns 1,864,914 shares of the insurance provider’s stock worth $126,348,000 after buying an additional 421,003 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AIG. BMO Capital Markets increased their price target on shares of American International Group from $88.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday, May 13th. Citigroup raised their price target on American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Bank of America upped their price objective 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. Morgan Stanley lifted their target price 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. Finally, Wells Fargo & Company upped their price target on American International Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $81.50.

View Our Latest Stock Analysis on AIG

Insider Buying and Selling

In related news, major shareholder International Group American sold 30,000,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $29.20, for a total value of $876,000,000.00. Following the transaction, the insider now owns 294,203,636 shares in the company, valued at $8,590,746,171.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.61% of the company’s stock.

American International Group Trading Down 0.2 %

Shares of AIG stock traded down $0.18 during mid-day trading on Tuesday, hitting $75.83. 323,487 shares of the company’s stock were exchanged, compared to its average volume of 4,039,173. The stock has a market cap of $50.33 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 2.06 and a beta of 1.08. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05. American International Group, Inc. has a fifty-two week low of $55.10 and a fifty-two week high of $80.83. The stock has a 50-day simple moving average of $76.65 and a two-hundred day simple moving average of $73.07.

American International Group (NYSE:AIGGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, beating the consensus estimate of $1.66 by $0.11. American International Group had a return on equity of 10.54% and a net margin of 9.98%. The company had revenue of $12.58 billion during the quarter, compared to analysts’ expectations of $12.04 billion. During the same quarter in the previous year, the business earned $1.63 EPS. Equities analysts expect that American International Group, Inc. will post 7.02 EPS for the current fiscal year.

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 paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This is a boost from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 2.11%. American International Group’s payout ratio is currently 23.88%.

American International Group announced that its board has initiated a stock repurchase plan on Wednesday, May 1st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to purchase up to 19.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

American International Group Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for American International Group (NYSE:AIG)

Receive News & Ratings for American International Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American International Group and related companies with MarketBeat.com's FREE daily email newsletter.