IFM Investors Pty Ltd Decreases Stock Holdings in American International Group, Inc. (NYSE:AIG)

IFM Investors Pty Ltd lowered its position in shares of American International Group, Inc. (NYSE:AIG) by 2.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 144,244 shares of the insurance provider’s stock after selling 3,454 shares during the quarter. IFM Investors Pty Ltd’s holdings in American International Group were worth $10,563,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Forum Financial Management LP boosted its holdings in American International Group by 1.1% in the second quarter. Forum Financial Management LP now owns 12,173 shares of the insurance provider’s stock worth $904,000 after acquiring an additional 128 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in American International Group by 5.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,691 shares of the insurance provider’s stock valued at $210,000 after purchasing an additional 136 shares during the last quarter. Quent Capital LLC increased its stake 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 valued at $285,000 after purchasing an additional 146 shares in the last quarter. New Republic Capital LLC raised its holdings in American International Group by 5.2% in the first quarter. New Republic Capital LLC now owns 3,290 shares of the insurance provider’s stock worth $257,000 after buying an additional 164 shares during the last quarter. Finally, Avantax Advisory Services Inc. lifted its stake in shares of American International Group by 2.8% in the first quarter. Avantax Advisory Services Inc. now owns 6,106 shares of the insurance provider’s stock worth $477,000 after buying an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analyst Upgrades and Downgrades

AIG has been the subject of several analyst reports. BMO Capital Markets downgraded shares of American International Group from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $90.00 to $84.00 in a research report on Tuesday, October 15th. Piper Sandler decreased 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. Evercore ISI lowered their price target on 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. JPMorgan Chase & Co. upgraded American International Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $93.00 to $89.00 in a report on Thursday, October 10th. Finally, Citigroup lowered their target price on shares of American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, July 23rd. One equities 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. According to MarketBeat.com, American International Group has an average rating of “Hold” and a consensus target price of $84.38.

American International Group Stock Performance

Shares of NYSE AIG opened at $77.67 on Friday. 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, Inc. has a 12-month low of $59.12 and a 12-month high of $80.83. The firm has a market capitalization of $51.55 billion, a price-to-earnings ratio of 11.59, a price-to-earnings-growth ratio of 3.88 and a beta of 1.06. The firm has a 50 day moving average of $74.75 and a 200 day moving average of $75.49.

American International Group (NYSE:AIG) last issued 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). 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 previous year, the firm earned $1.75 EPS. The company’s revenue was up .0% on a year-over-year basis. On average, research analysts anticipate that American International Group, Inc. will post 5.09 earnings per share for the current year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Monday, September 16th. American International Group’s payout ratio is 23.88%.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was 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 directly owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate 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.