Varma Mutual Pension Insurance Co cut its holdings in shares of American International Group, Inc. (NYSE:AIG – Free Report) by 89.2% in the second quarter, Holdings Channel reports. The institutional investor owned 15,300 shares of the insurance provider’s stock after selling 126,030 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in American International Group were worth $1,140,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. EP Wealth Advisors LLC grew its stake in shares of American International Group by 31.3% in the second quarter. EP Wealth Advisors LLC now owns 12,613 shares of the insurance provider’s stock worth $940,000 after acquiring an additional 3,010 shares during the last quarter. Ieq Capital LLC increased its position in American International Group by 29.6% during the second quarter. Ieq Capital LLC now owns 65,907 shares of the insurance provider’s stock worth $4,912,000 after acquiring an additional 15,040 shares during the period. Callan Family Office LLC raised its stake in American International Group by 2.0% during the 2nd quarter. Callan Family Office LLC now owns 26,313 shares of the insurance provider’s stock valued at $1,961,000 after purchasing an additional 512 shares during the last quarter. Allworth Financial LP boosted its holdings in American International Group by 27.6% in the 2nd quarter. Allworth Financial LP now owns 14,275 shares of the insurance provider’s stock valued at $1,064,000 after purchasing an additional 3,085 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG boosted its holdings in American International Group by 84.7% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 34,506 shares of the insurance provider’s stock valued at $2,572,000 after purchasing an additional 15,825 shares during the period. 90.60% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other American International Group news, insider Peter Zaffino sold 36,829 shares of American International Group stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $76.14, for a total transaction of $2,804,160.06. Following the sale, the insider directly owned 556,004 shares of the company’s stock, valued at approximately $42,334,144.56. The trade was a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.
Analysts Set New Price Targets
View Our Latest Report on American International Group
American International Group Trading Up 0.2%
Shares of American International Group stock opened at $76.30 on Monday. American International Group, Inc. has a 52-week low of $71.25 and a 52-week high of $87.29. The firm has a market capitalization of $39.90 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 0.69 and a beta of 0.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61. The company’s fifty day moving average price is $77.69 and its two-hundred day moving average price is $76.98.
American International Group (NYSE:AIG – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The insurance provider reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.08. American International Group had a net margin of 11.13% and a return on equity of 11.05%. The company had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.25 billion. During the same period last year, the firm earned $1.81 EPS. On average, analysts expect that American International Group, Inc. will post 8.02 EPS for the current year.
American International Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. American International Group’s dividend payout ratio (DPR) is currently 36.56%.
American International Group Profile
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.
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