Corient Private Wealth LP decreased its holdings in American International Group, Inc. (NYSE:AIG – Free Report) by 6.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 331,862 shares of the insurance provider’s stock after selling 23,068 shares during the quarter. Corient Private Wealth LP owned 0.06% of American International Group worth $24,734,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in AIG. Modus Advisors LLC acquired a new stake in American International Group during the fourth quarter worth approximately $27,000. Navalign LLC acquired a new position in American International Group in the 4th quarter valued at $29,000. Mcguire Capital Advisors Inc. acquired a new position in American International Group in the 4th quarter valued at $29,000. First Bancorp Inc ME bought a new stake in shares of American International Group during the 2nd quarter valued at $30,000. Finally, SHP Wealth Management bought a new stake in shares of American International Group during the 4th quarter valued at $34,000. Institutional investors and hedge funds own 90.60% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on AIG. Weiss Ratings upgraded American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. Citigroup upped their price objective on shares of American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Piper Sandler increased their price objective on shares of American International Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Wells Fargo & Company decreased their target price on shares of American International Group from $89.00 to $85.00 and set an “equal weight” rating on the stock in a report on Monday, August 10th. Finally, Cantor Fitzgerald dropped their target price on shares of American International Group from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. Seven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, American International Group currently has a consensus rating of “Hold” and an average price target of $88.28.
American International Group Price Performance
Shares of AIG stock opened at $77.02 on Friday. The business has a fifty day simple moving average of $77.92 and a 200 day simple moving average of $77.01. The company has a market cap of $40.27 billion, a P/E ratio of 14.08, a P/E/G ratio of 0.70 and a beta of 0.53. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a twelve month low of $71.25 and a twelve month high of $87.29.
American International Group (NYSE:AIG – Get Free Report) last released its earnings results on Thursday, August 6th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. The firm had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.25 billion. American International Group had a return on equity of 11.05% and a net margin of 11.13%.During the same quarter in the previous year, the business posted $1.81 earnings per share. On average, sell-side analysts forecast that American International Group, Inc. will post 8.02 EPS for the current fiscal year.
American International Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.6%. American International Group’s payout ratio is 36.56%.
Insider Transactions at American International Group
In related news, insider Peter Zaffino sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total transaction of $15,294,000.00. Following the completion of the transaction, the insider directly owned 592,833 shares in the company, valued at $45,333,939.51. This represents a 25.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by corporate insiders.
American International Group Company 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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