Donald Smith & CO. Inc. Sells 266,122 Shares of American International Group, Inc. (NYSE:AIG)

Donald Smith & CO. Inc. lessened its holdings in shares of American International Group, Inc. (NYSE:AIG) by 26.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 736,158 shares of the insurance provider’s stock after selling 266,122 shares during the period. American International Group comprises approximately 1.4% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 28th biggest position. Donald Smith & CO. Inc. owned 0.11% of American International Group worth $54,652,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Renaissance Technologies LLC bought a new position in American International Group in the 2nd quarter valued at $20,123,000. Citizens Financial Group Inc. RI bought a new stake in American International Group during the 2nd quarter valued at $334,000. Dimensional Fund Advisors LP raised its holdings in shares of American International Group by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 6,435,245 shares of the insurance provider’s stock valued at $477,802,000 after acquiring an additional 269,188 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of American International Group by 6.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,148,482 shares of the insurance provider’s stock valued at $233,743,000 after acquiring an additional 198,889 shares in the last quarter. Finally, Plato Investment Management Ltd lifted its stake in American International Group by 15.9% in the second quarter. Plato Investment Management Ltd now owns 5,749 shares of the insurance provider’s stock worth $427,000 after acquiring an additional 788 shares during the period. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder International Group American sold 8,032,129 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the completion of the transaction, the insider now owns 284,238,898 shares of the company’s stock, valued at $7,077,548,560.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

AIG has been the subject of several recent research reports. TD Cowen reduced their price target on shares of American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a report on Tuesday, August 13th. Bank of America boosted their price objective on shares of American International Group from $81.00 to $82.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Barclays initiated coverage on American International Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 target price on the stock. Morgan Stanley reduced their price target on American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Finally, StockNews.com downgraded American International Group from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, American International Group currently has a consensus rating of “Hold” and an average price target of $83.88.

American International Group Price Performance

Shares of AIG opened at $73.11 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. The company’s fifty day moving average price is $74.81 and its 200-day moving average price is $75.69. American International Group, Inc. has a 1-year low of $57.72 and a 1-year high of $80.83. The firm has a market capitalization of $48.52 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 3.60 and a beta of 1.06.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.64 billion. During the same period in the prior year, the company posted $1.75 earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities research analysts predict that American International Group, Inc. will post 5.24 EPS for the current year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.19%. The ex-dividend date is Monday, September 16th. American International Group’s payout ratio is 23.88%.

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.