Voya Investment Management LLC Cuts Position in American International Group, Inc. $AIG

Voya Investment Management LLC reduced its stake in shares of American International Group, Inc. (NYSE:AIG) by 27.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,066,455 shares of the insurance provider’s stock after selling 413,702 shares during the period. Voya Investment Management LLC’s holdings in American International Group were worth $83,759,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Pacifica Partners Inc. purchased a new position in American International Group in the 3rd quarter valued at approximately $1,251,000. Oak Thistle LLC increased its position in shares of American International Group by 117.4% in the third quarter. Oak Thistle LLC now owns 24,631 shares of the insurance provider’s stock valued at $1,935,000 after buying an additional 13,303 shares in the last quarter. Aaron Wealth Advisors LLC raised its stake in shares of American International Group by 187.4% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 15,711 shares of the insurance provider’s stock worth $1,234,000 after buying an additional 10,245 shares during the last quarter. National Wealth Management Group LLC purchased a new stake in shares of American International Group in the 2nd quarter worth about $614,000. Finally, Valeo Financial Advisors LLC grew its stake in American International Group by 6.5% in the 2nd quarter. Valeo Financial Advisors LLC now owns 13,099 shares of the insurance provider’s stock valued at $1,121,000 after acquiring an additional 794 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Price Performance

American International Group stock opened at $86.06 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market cap of $46.43 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 0.89 and a beta of 0.62. American International Group, Inc. has a 1 year low of $69.24 and a 1 year high of $88.07. The firm has a 50 day moving average price of $78.74 and a 200 day moving average price of $80.37.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.63. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.82 billion. American International Group had a net margin of 11.89% and a return on equity of 9.09%. During the same period in the previous year, the company earned $1.23 EPS. Sell-side analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 16th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, December 16th. American International Group’s payout ratio is currently 32.73%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AIG. Cantor Fitzgerald restated a “neutral” rating on shares of American International Group in a research report on Thursday, December 11th. Evercore ISI boosted their price target on American International Group from $89.00 to $90.00 and gave the stock an “in-line” rating in a report on Wednesday, October 1st. Barclays lowered American International Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $95.00 to $88.00 in a research note on Friday, December 5th. Bank of America upped their target price on shares of American International Group from $88.00 to $94.00 and gave the company a “neutral” rating in a report on Monday, October 13th. Finally, Morgan Stanley cut their price objective on shares of American International Group from $85.00 to $84.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, American International Group presently has an average rating of “Hold” and an average target price of $88.89.

About American International Group

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.