Generali Asset Management SPA SGR lessened its stake in American International Group, Inc. (NYSE:AIG – Free Report) by 69.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,473 shares of the insurance provider’s stock after selling 7,916 shares during the quarter. Generali Asset Management SPA SGR’s holdings in American International Group were worth $258,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the stock. First Bancorp Inc ME bought a new stake in American International Group in the second quarter valued at about $30,000. Fiduciary Financial Advisors acquired a new stake in American International Group during the second quarter valued at approximately $34,000. Center for Financial Planning Inc. lifted its holdings in American International Group by 52.0% during the 3rd quarter. Center for Financial Planning Inc. now owns 456 shares of the insurance provider’s stock worth $34,000 after buying an additional 156 shares during the last quarter. Elevation Wealth Partners LLC lifted its holdings in American International Group by 71.6% during the 3rd quarter. Elevation Wealth Partners LLC now owns 556 shares of the insurance provider’s stock worth $41,000 after buying an additional 232 shares during the last quarter. Finally, Cedar Mountain Advisors LLC bought a new position in American International Group during the 1st quarter worth approximately $50,000. Institutional investors and hedge funds own 90.60% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on AIG. Weiss Ratings reiterated a “buy (b-)” rating on shares of American International Group in a report on Tuesday, September 29th. UBS Group raised their price objective on American International Group from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 6th. Barclays raised their price objective on American International Group from $80.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Mizuho lowered their target price on shares of American International Group from $85.00 to $83.00 and set a “neutral” rating for the company in a research note on Wednesday, October 7th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a research note on Monday, October 12th. Eight equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $87.68.
Check Out Our Latest Research Report on American International Group
American International Group Stock Performance
Shares of AIG stock opened at $81.90 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average of $77.07 and a two-hundred day moving average of $76.75. American International Group, Inc. has a 52 week low of $71.25 and a 52 week high of $87.29. The company has a market cap of $42.82 billion, a P/E ratio of 9.85, a PEG ratio of 0.85 and a beta of 0.52.
American International Group (NYSE:AIG – Get Free Report) last posted its earnings results on Friday, August 7th. The insurance provider reported $2.00 EPS for the quarter, beating the consensus estimate of $1.92 by $0.08. The company had revenue of $7.08 billion during the quarter, compared to analyst estimates 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 period in the prior year, the company earned $1.81 earnings per share. As a group, analysts anticipate that American International Group, Inc. will post 8.07 EPS for the current year.
American International Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Wednesday, September 16th. American International Group’s dividend payout ratio is presently 36.56%.
Insider Buying and Selling
In other American International Group news, insider Peter Zaffino sold 200,000 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $76.47, for a total value of $15,294,000.00. Following the sale, the insider directly owned 592,833 shares of the company’s stock, valued at $45,333,939.51. This trade represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by insiders.
American International Group Profile
American International Group, Inc (NYSE:AIG) is a global insurance organization that provides property and casualty insurance products and related services to businesses, institutions, and individuals. Its offerings include commercial insurance, personal insurance, specialty coverage, accident and health products, and travel-related protection.
AIG serves customers through operations in the United States and international markets. Its commercial insurance business supports companies across industries with coverage such as property, casualty, liability, marine, and other specialty risks, while its personal insurance operations provide protection for individuals and families.
The company was founded in Shanghai in 1919 by Cornelius Vander Starr and is headquartered in New York City.
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