American International Group, Inc. (NYSE:AIG) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. reduced its position in American International Group, Inc. (NYSE:AIG) by 4.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,655 shares of the insurance provider’s stock after selling 226 shares during the quarter. First Horizon Advisors Inc.’s holdings in American International Group were worth $341,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Forum Financial Management LP raised its holdings in American International Group by 1.1% during the second quarter. Forum Financial Management LP now owns 12,173 shares of the insurance provider’s stock worth $904,000 after purchasing an additional 128 shares in the last quarter. Quent Capital LLC increased its position in American International Group by 4.0% during the 2nd quarter. Quent Capital LLC now owns 3,834 shares of the insurance provider’s stock worth $285,000 after purchasing an additional 146 shares during the period. EP Wealth Advisors LLC raised its stake in shares of American International Group by 4.9% during the 1st quarter. EP Wealth Advisors LLC now owns 3,536 shares of the insurance provider’s stock worth $276,000 after buying an additional 165 shares in the last quarter. Graypoint LLC boosted its stake in shares of American International Group by 2.0% in the third quarter. Graypoint LLC now owns 8,672 shares of the insurance provider’s stock valued at $635,000 after buying an additional 167 shares in the last quarter. Finally, Commerce Bank grew its holdings in American International Group by 1.0% during the third quarter. Commerce Bank now owns 17,234 shares of the insurance provider’s stock worth $1,262,000 after acquiring an additional 172 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AIG shares. Keefe, Bruyette & Woods reduced their target price on American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Bank of America raised their price objective on shares of American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. UBS Group upped their target price on shares of American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. TD Cowen reduced their price target on shares of American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Finally, Piper Sandler lowered their price target on American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.80.

American International Group Price Performance

NYSE:AIG opened at $76.06 on Friday. The firm has a market cap of $47.44 billion, a price-to-earnings ratio of -22.44, a price-to-earnings-growth ratio of 7.45 and a beta of 1.05. American International Group, Inc. has a 12-month low of $64.54 and a 12-month high of $80.83. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average is $75.50 and its two-hundred day moving average is $75.62.

American International Group (NYSE:AIG) last announced its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. The firm had revenue of $6.75 billion for 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 quarter last year, the business earned $1.61 earnings per share. Research analysts expect that American International Group, Inc. will post 5.13 EPS for the current year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.60 annualized dividend and a yield of 2.10%. American International Group’s payout ratio is currently -47.20%.

Insider Buying and Selling

In related news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.61% of the stock is currently owned by company insiders.

American International Group Profile

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.