3Chopt Investment Partners LLC Lowers Position in American International Group, Inc. $AIG

3Chopt Investment Partners LLC cut its holdings in American International Group, Inc. (NYSE:AIG) by 3.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,880 shares of the insurance provider’s stock after selling 147 shares during the quarter. 3Chopt Investment Partners LLC’s holdings in American International Group were worth $332,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Pinnacle Associates Ltd. lifted its stake in American International Group by 1.6% in the first quarter. Pinnacle Associates Ltd. now owns 7,706 shares of the insurance provider’s stock worth $670,000 after acquiring an additional 122 shares during the period. Western Pacific Wealth Management LP lifted its position in shares of American International Group by 2.3% during the first quarter. Western Pacific Wealth Management LP now owns 5,673 shares of the insurance provider’s stock valued at $493,000 after buying an additional 125 shares during the last quarter. Aaron Wealth Advisors LLC lifted its position in shares of American International Group by 2.4% during the second quarter. Aaron Wealth Advisors LLC now owns 5,466 shares of the insurance provider’s stock valued at $468,000 after buying an additional 126 shares during the last quarter. Montag A & Associates Inc. lifted its position in shares of American International Group by 0.7% during the first quarter. Montag A & Associates Inc. now owns 17,788 shares of the insurance provider’s stock valued at $1,546,000 after buying an additional 130 shares during the last quarter. Finally, Carnegie Investment Counsel lifted its position in shares of American International Group by 3.1% during the first quarter. Carnegie Investment Counsel now owns 4,311 shares of the insurance provider’s stock valued at $375,000 after buying an additional 131 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Stock Performance

AIG opened at $81.34 on Friday. American International Group, Inc. has a 52-week low of $69.24 and a 52-week high of $88.07. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. The company has a market cap of $45.06 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 0.88 and a beta of 0.68. The firm’s 50-day moving average price is $79.80 and its 200-day moving average price is $81.68.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.21. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. As a group, equities analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.2%. The ex-dividend date was Tuesday, September 16th. American International Group’s dividend payout ratio is 34.09%.

Wall Street Analysts Forecast Growth

Several research firms have commented on AIG. Jefferies Financial Group increased their price target on shares of American International Group from $96.00 to $99.00 and gave the company a “buy” rating in a research report on Tuesday. Weiss Ratings reissued a “buy (b)” rating on shares of American International Group in a research report on Wednesday. Piper Sandler decreased their price target on shares of American International Group from $96.00 to $88.00 and set an “overweight” rating for the company in a research report on Thursday, October 2nd. Wolfe Research began coverage on shares of American International Group in a research report on Tuesday, September 16th. They set a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of American International Group from $95.00 to $97.00 and gave the company a “neutral” rating in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, American International Group has an average rating of “Moderate Buy” and an average target price of $89.53.

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.