Hartford Investment Management Co. Sells 1,572 Shares of American International Group, Inc. (NYSE:AIG)

Hartford Investment Management Co. cut its stake in American International Group, Inc. (NYSE:AIG) by 3.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,086 shares of the insurance provider’s stock after selling 1,572 shares during the period. Hartford Investment Management Co.’s holdings in American International Group were worth $3,009,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Cetera Investment Advisers grew its stake in American International Group by 348.6% in the 1st quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock worth $4,506,000 after acquiring an additional 44,797 shares in the last quarter. OFI Invest Asset Management grew its stake in American International Group by 2,208.3% in the second quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock worth $710,000 after purchasing an additional 9,805 shares in the last quarter. Bessemer Group Inc. increased its holdings in American International Group by 64.3% during the 1st quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider’s stock worth $2,227,000 after purchasing an additional 11,149 shares during the period. Coronation Fund Managers Ltd. bought a new stake in American International Group during the 1st quarter valued at $1,367,000. Finally, Illinois Municipal Retirement Fund lifted its holdings in shares of American International Group by 19.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 156,150 shares of the insurance provider’s stock worth $12,206,000 after buying an additional 24,906 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

Shares of AIG stock opened at $77.43 on Thursday. American International Group, Inc. has a 12-month low of $59.11 and a 12-month high of $80.83. The business’s fifty day simple moving average is $74.75 and its 200-day simple moving average is $75.49. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. The company has a market cap of $51.39 billion, a PE ratio of 11.56, a PEG ratio of 3.88 and a beta of 1.06.

American International Group (NYSE:AIG) last announced its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.14). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The business had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.64 billion. During the same period in the prior year, the company earned $1.75 earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis. Analysts expect that American International Group, Inc. will post 5.09 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Monday, September 16th. American International Group’s payout ratio is currently 23.88%.

Insider Buying and Selling

In other American International Group 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 transaction, the insider now owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Bank of America raised their price target on American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. BMO Capital Markets cut shares of American International Group from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $90.00 to $84.00 in a report on Tuesday, October 15th. Keefe, Bruyette & Woods reduced their price target on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Piper Sandler lowered their price target 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, Evercore ISI cut their price objective on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $84.38.

American International Group Company 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.