Thrivent Financial for Lutherans Decreases Stake in American International Group, Inc. (NYSE:AIG)

Thrivent Financial for Lutherans decreased its holdings in American International Group, Inc. (NYSE:AIG) by 0.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,485,112 shares of the insurance provider’s stock after selling 10,566 shares during the period. Thrivent Financial for Lutherans owned approximately 0.22% of American International Group worth $110,255,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AIG. Avantax Advisory Services Inc. boosted its position in shares of American International Group by 23.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 5,941 shares of the insurance provider’s stock worth $403,000 after buying an additional 1,122 shares during the period. TCW Group Inc. acquired a new position in shares of American International Group during the fourth quarter worth $724,000. Team Hewins LLC purchased a new position in shares of American International Group in the fourth quarter valued at $242,000. Skopos Labs Inc. acquired a new stake in American International Group during the 4th quarter valued at $329,000. Finally, Johnson Financial Group Inc. lifted its holdings in American International Group by 117.5% in the 4th quarter. Johnson Financial Group Inc. now owns 3,262 shares of the insurance provider’s stock worth $221,000 after buying an additional 1,762 shares in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Price Performance

Shares of AIG opened at $73.76 on Friday. The firm has a market capitalization of $48.95 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of 3.60 and a beta of 1.06. The stock’s fifty day moving average is $74.55 and its 200-day moving average is $75.67. American International Group, Inc. has a one year low of $57.72 and a one year high of $80.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67.

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

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.40 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.17%. American International Group’s dividend payout ratio (DPR) is 23.88%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AIG. Keefe, Bruyette & Woods dropped their target price on American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. Evercore ISI dropped their price target on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, June 27th. Bank of America increased their price objective on shares of American International Group from $81.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Piper Sandler dropped their target price on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Citigroup reduced their price target 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, American International Group presently has an average rating of “Hold” and a consensus target price of $83.88.

Insider Buying and Selling at American International Group

In other news, major shareholder International Group American sold 8,032,129 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the completion of the sale, the insider now owns 284,238,898 shares in the company, valued at approximately $7,077,548,560.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 14,964,738 shares of company stock valued at $400,732,195. 0.61% of the stock is owned by 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.