Metis Global Partners LLC Lowers Position in American International Group, Inc. (NYSE:AIG)

Metis Global Partners LLC decreased its stake in shares of American International Group, Inc. (NYSE:AIG) by 0.7% in the third quarter, Holdings Channel.com reports. The fund owned 20,841 shares of the insurance provider’s stock after selling 142 shares during the period. Metis Global Partners LLC’s holdings in American International Group were worth $1,526,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AIG. Cetera Investment Advisers boosted its holdings in shares of American International Group by 348.6% during the 1st quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock valued at $4,506,000 after purchasing an additional 44,797 shares during the last quarter. OFI Invest Asset Management grew its holdings in American International Group by 2,208.3% during the 2nd quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock valued at $710,000 after buying an additional 9,805 shares in the last quarter. Bessemer Group Inc. increased its stake in American International Group by 64.3% in the 1st quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider’s stock worth $2,227,000 after acquiring an additional 11,149 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of American International Group by 8.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 142,369 shares of the insurance provider’s stock worth $11,081,000 after acquiring an additional 10,581 shares in the last quarter. Finally, Ceeto Capital Group LLC purchased a new stake in shares of American International Group during the 1st quarter worth approximately $625,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at American International Group

In other news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the transaction, the insider now owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This represents a 1.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. BMO Capital Markets lowered shares of American International Group from an “outperform” rating to a “market perform” rating and cut their target price for the company from $90.00 to $84.00 in a report on Tuesday, October 15th. Piper Sandler dropped their price objective on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Citigroup decreased their target price on shares of 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. Wells Fargo & Company dropped their price target on American International Group from $77.00 to $76.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group boosted their price objective on American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.13.

American International Group Price Performance

AIG opened at $75.77 on Friday. The business has a fifty day moving average of $75.20 and a 200 day moving average of $75.68. The stock has a market cap of $47.26 billion, a P/E ratio of -22.35, a PEG ratio of 7.53 and a beta of 1.05. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 52-week low of $63.57 and a 52-week high of $80.83.

American International Group (NYSE:AIG) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. The firm had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. During the same period in the previous year, the firm earned $1.61 earnings per share. As a group, sell-side analysts anticipate that American International Group, Inc. will post 5.13 EPS for the current year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be paid a $0.40 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.11%. American International Group’s dividend payout ratio is currently -47.20%.

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.