Allspring Global Investments Holdings LLC Sells 16,830 Shares of American International Group, Inc. (NYSE:AIG)

Allspring Global Investments Holdings LLC reduced its holdings in American International Group, Inc. (NYSE:AIG) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 564,035 shares of the insurance provider’s stock after selling 16,830 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in American International Group were worth $41,163,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Wellington Management Group LLP grew its holdings in shares of American International Group by 32.4% during the third quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock worth $1,831,727,000 after buying an additional 6,119,996 shares in the last quarter. Prana Capital Management LP grew its stake in shares of American International Group by 280.5% during the 3rd quarter. Prana Capital Management LP now owns 1,888,072 shares of the insurance provider’s stock worth $138,264,000 after acquiring an additional 1,391,859 shares in the last quarter. Swedbank AB grew its stake in shares of American International Group by 70.6% during the 4th quarter. Swedbank AB now owns 2,127,688 shares of the insurance provider’s stock worth $154,896,000 after acquiring an additional 880,625 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of American International Group by 5.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock worth $1,002,163,000 after purchasing an additional 722,237 shares in the last quarter. Finally, Barclays PLC boosted its holdings in American International Group by 24.7% during the third quarter. Barclays PLC now owns 2,748,674 shares of the insurance provider’s stock worth $201,286,000 after purchasing an additional 544,110 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Stock Performance

NYSE AIG opened at $74.27 on Friday. The stock has a market cap of $46.33 billion, a PE ratio of -21.91, a P/E/G ratio of 5.87 and a beta of 1.05. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a 50-day moving average of $73.47 and a 200-day moving average of $74.49. American International Group, Inc. has a 52-week low of $68.04 and a 52-week high of $80.83.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. On average, sell-side analysts anticipate that American International Group, Inc. will post 4.89 EPS for the current year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.40 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.60 annualized dividend and a yield of 2.15%. American International Group’s dividend payout ratio (DPR) is presently -47.20%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. StockNews.com upgraded shares of American International Group from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Wells Fargo & Company upped their target price on American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. Morgan Stanley raised their price target on American International Group from $75.00 to $76.00 and gave the company an “equal weight” rating in a research note on Friday. Keefe, Bruyette & Woods upped their price objective on American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $79.00 target price (down from $83.00) on shares of American International Group in a research note on Wednesday, January 8th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, American International Group currently has an average rating of “Hold” and an average target price of $84.06.

American International Group Company 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.