American International Group, Inc. (NYSE:AIG) Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC decreased its position in American International Group, Inc. (NYSE:AIG) by 14.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,765 shares of the insurance provider’s stock after selling 27,651 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in American International Group were worth $13,977,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Sachetta LLC grew its position in American International Group by 194.5% in the first quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 249 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in American International Group in the fourth quarter valued at approximately $29,000. Hemington Wealth Management grew its position in American International Group by 42.8% in the first quarter. Hemington Wealth Management now owns 474 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 142 shares in the last quarter. NBC Securities Inc. acquired a new stake in American International Group in the first quarter valued at approximately $47,000. Finally, SouthState Corp grew its position in American International Group by 798.5% in the first quarter. SouthState Corp now owns 584 shares of the insurance provider’s stock valued at $51,000 after acquiring an additional 519 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Stock Performance

AIG stock opened at $80.33 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a market capitalization of $44.50 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 0.86 and a beta of 0.63. American International Group, Inc. has a 1 year low of $69.24 and a 1 year high of $88.07. The stock’s fifty day moving average is $81.95 and its two-hundred day moving average is $81.28.

American International Group (NYSE:AIG) last posted its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.21. The company had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.81 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%. During the same period last year, the business posted $1.16 earnings per share. On average, research analysts predict that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Tuesday, September 16th. American International Group’s dividend payout ratio (DPR) is presently 34.09%.

Analysts Set New Price Targets

AIG has been the subject of several research analyst reports. Wells Fargo & Company increased their target price on American International Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. William Blair upgraded American International Group to a “strong-buy” rating in a research note on Friday, August 1st. Wall Street Zen upgraded American International Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Cfra Research upgraded American International Group to a “moderate buy” rating in a research note on Monday. Finally, Citigroup initiated coverage on American International Group in a research note on Wednesday. They set a “neutral” rating and a $85.00 target price for the company. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.27.

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.