Nepsis Inc. Cuts Stake in American International Group, Inc. (NYSE:AIG)

Nepsis Inc. cut its holdings in shares of American International Group, Inc. (NYSE:AIG) by 28.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 195,546 shares of the insurance provider’s stock after selling 79,296 shares during the period. American International Group accounts for approximately 4.2% of Nepsis Inc.’s investment portfolio, making the stock its 11th biggest holding. Nepsis Inc.’s holdings in American International Group were worth $17,001,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AIG. Capital Research Global Investors lifted its stake in shares of American International Group by 1.4% during the fourth quarter. Capital Research Global Investors now owns 34,890,814 shares of the insurance provider’s stock worth $2,540,050,000 after buying an additional 482,724 shares during the period. Wellington Management Group LLP lifted its position in American International Group by 7.2% during the 4th quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider’s stock worth $1,951,427,000 after acquiring an additional 1,791,964 shares during the period. Diamond Hill Capital Management Inc. lifted its position in American International Group by 3.4% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider’s stock worth $1,029,905,000 after acquiring an additional 461,912 shares during the period. Franklin Resources Inc. grew its stake in American International Group by 14.0% during the 4th quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider’s stock valued at $760,528,000 after purchasing an additional 1,284,354 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of American International Group in the fourth quarter valued at about $718,013,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Stock Down 2.5%

Shares of NYSE AIG opened at $85.19 on Tuesday. American International Group, Inc. has a 52-week low of $69.00 and a 52-week high of $88.07. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21. The company’s 50-day simple moving average is $82.45 and its 200-day simple moving average is $78.66. The firm has a market cap of $49.10 billion, a price-to-earnings ratio of -40.96, a price-to-earnings-growth ratio of 1.01 and a beta of 0.64.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.13. American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. The company had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.89 billion. During the same period in the previous year, the firm posted $1.25 EPS. Equities analysts predict that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.11%. This is a boost from American International Group’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, June 13th. American International Group’s payout ratio is presently -67.67%.

Wall Street Analysts Forecast Growth

AIG has been the topic of a number of recent research reports. Hsbc Global Res upgraded American International Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $91.00 target price (up previously from $83.00) on shares of American International Group in a report on Tuesday, April 8th. UBS Group lowered their price target on shares of American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft lifted their price objective on American International Group to $91.00 and gave the company a “buy” rating in a research note on Wednesday, April 2nd. Finally, Barclays upped their target price on American International Group from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.12.

Insider Activity at American International Group

In related news, EVP Christopher Flatt sold 46,182 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the completion of the sale, the executive vice president now owns 21,400 shares of the company’s stock, valued at approximately $1,781,764. This represents a 68.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is owned by corporate 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.