Lighthouse Investment Partners LLC Trims Position in American International Group, Inc. (NYSE:AIG)

Lighthouse Investment Partners LLC decreased its position in shares of American International Group, Inc. (NYSE:AIG) by 62.9% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,377 shares of the insurance provider’s stock after selling 58,223 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in American International Group were worth $2,552,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its position in shares of American International Group by 199.2% in the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 239 shares in the last quarter. Y.D. More Investments Ltd bought a new position in American International Group in the 2nd quarter worth approximately $27,000. Rise Advisors LLC purchased a new stake in American International Group during the 1st quarter valued at approximately $29,000. Valued Wealth Advisors LLC raised its position in shares of American International Group by 303.3% during the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock valued at $29,000 after buying an additional 276 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of American International Group by 326.0% in the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after buying an additional 339 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

Insider Buying and Selling

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the sale, the insider now directly owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 14,964,738 shares of company stock valued at $400,732,195 in the last 90 days. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

AIG has been the subject of several research analyst reports. Keefe, Bruyette & Woods cut their target price on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Wells Fargo & Company reduced their target price on American International Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Piper Sandler dropped their price target on 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. JPMorgan Chase & Co. lifted their price objective on American International Group from $80.00 to $93.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Finally, Barclays initiated coverage on American International Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 target price for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $83.88.

American International Group Price Performance

AIG stock opened at $73.34 on Friday. The stock has a market cap of $48.67 billion, a PE ratio of 10.95, a P/E/G ratio of 3.70 and a beta of 1.06. American International Group, Inc. has a 12 month low of $57.72 and a 12 month high of $80.83. The company has a 50-day moving average price of $74.15 and a 200 day moving average price of $75.63. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last released its 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 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 the consensus estimate of $11.64 billion. During the same period in the prior year, the company posted $1.75 EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year. Equities research analysts anticipate that American International Group, Inc. will post 5.24 earnings per share for the current year.

American International Group Announces Dividend

The business also recently declared 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Monday, September 16th. American International Group’s payout ratio is presently 23.88%.

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.