American International Group, Inc. (NYSE:AIG) Shares Sold by Quilter Plc

Quilter Plc decreased its position in American International Group, Inc. (NYSE:AIG) by 1.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 53,917 shares of the insurance provider’s stock after selling 1,011 shares during the period. Quilter Plc’s holdings in American International Group were worth $4,003,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Avantax Advisory Services Inc. boosted its position in shares of American International Group by 23.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,941 shares of the insurance provider’s stock valued at $403,000 after purchasing an additional 1,122 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in American International Group in the fourth quarter worth approximately $8,942,000. Beacon Pointe Advisors LLC increased its holdings in shares of American International Group by 5.4% in the fourth quarter. Beacon Pointe Advisors LLC now owns 31,336 shares of the insurance provider’s stock valued at $2,123,000 after buying an additional 1,593 shares in the last quarter. Navellier & Associates Inc. acquired a new stake in shares of American International Group during the 4th quarter valued at $213,000. Finally, Independent Advisor Alliance boosted its stake in shares of American International Group by 11.2% during the 4th quarter. Independent Advisor Alliance now owns 6,806 shares of the insurance provider’s stock worth $461,000 after acquiring an additional 686 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AIG. Citigroup cut their target price on American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, July 23rd. Barclays assumed coverage on shares of American International Group in a research note on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price objective for the company. Morgan Stanley dropped their target price on shares of American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Royal Bank of Canada restated an “outperform” rating and issued a $87.00 price target on shares of American International Group in a research report on Tuesday, July 9th. Finally, Piper Sandler lowered their price objective on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $83.88.

American International Group Stock Performance

Shares of AIG stock opened at $73.11 on Monday. American International Group, Inc. has a fifty-two week low of $57.72 and a fifty-two week high of $80.83. The stock’s 50-day moving average is $74.81 and its two-hundred day moving average is $75.69. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market cap of $48.52 billion, a P/E ratio of 10.91, a PEG ratio of 3.60 and a beta of 1.06.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.14). The firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.64 billion. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.75 EPS. Analysts predict that American International Group, Inc. will post 5.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.19%. American International Group’s dividend payout ratio (DPR) is 23.88%.

Insider Activity

In other American International Group news, major shareholder International Group American sold 8,032,129 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the transaction, the insider now directly owns 284,238,898 shares of the company’s stock, valued at $7,077,548,560.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is owned by insiders.

About American International Group

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.