American International Group, Inc. (NYSE:AIG) Shares Sold by Forsta AP Fonden

Forsta AP Fonden decreased its position in American International Group, Inc. (NYSE:AIG) by 14.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 118,400 shares of the insurance provider’s stock after selling 19,800 shares during the period. Forsta AP Fonden’s holdings in American International Group were worth $8,790,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Capital Research Global Investors grew its stake in American International Group by 0.4% in the 4th quarter. Capital Research Global Investors now owns 41,770,175 shares of the insurance provider’s stock valued at $2,829,930,000 after acquiring an additional 176,286 shares during the last quarter. Norges Bank acquired a new stake in shares of American International Group in the fourth quarter valued at approximately $746,005,000. Putnam Investments LLC increased its stake in shares of American International Group by 3.8% during the 4th quarter. Putnam Investments LLC now owns 8,245,693 shares of the insurance provider’s stock worth $558,646,000 after purchasing an additional 300,712 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of American International Group by 0.6% during the 1st quarter. Clearbridge Investments LLC now owns 5,440,355 shares of the insurance provider’s stock worth $425,273,000 after purchasing an additional 31,340 shares during the last quarter. Finally, Third Point LLC lifted its stake in American International Group by 16.9% in the 4th quarter. Third Point LLC now owns 3,450,000 shares of the insurance provider’s stock valued at $233,738,000 after buying an additional 500,000 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Wall Street Analysts Forecast Growth

AIG has been the subject of several recent research reports. StockNews.com downgraded American International Group from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. Wells Fargo & Company cut their price target on American International Group from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Barclays began coverage on American International Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 price target on the stock. Piper Sandler cut 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 report on Friday, August 2nd. Finally, Evercore ISI lowered their target price on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating for the company in a report on Thursday, June 27th. One research 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’s stock. Based on data from MarketBeat.com, American International Group has a consensus rating of “Hold” and an average price target of $83.88.

American International Group Stock Performance

Shares of NYSE:AIG opened at $73.11 on Friday. The business’s 50-day simple moving average is $74.81 and its 200 day simple moving average is $75.64. The company 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. 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, Inc. has a one year low of $57.72 and a one year high of $80.83.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). The firm had revenue of $1.00 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.75 EPS. On average, sell-side analysts forecast that American International Group, Inc. will post 5.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

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

Insider Buying and Selling

In other American International Group news, major shareholder International Group American sold 8,032,129 shares of the firm’s stock in a transaction that occurred 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 SEC, which is available through the SEC website. Insiders own 0.61% of the company’s stock.

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.