Thompson Siegel & Walmsley LLC cut its position in shares of American International Group, Inc. (NYSE:AIG – Get Rating) by 24.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 144,388 shares of the insurance provider's stock after selling 45,610 shares during the period. Thompson Siegel & Walmsley LLC's holdings in American International Group were worth $7,383,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of AIG. Quent Capital LLC grew its stake in American International Group by 94.5% in the 1st quarter. Quent Capital LLC now owns 2,688 shares of the insurance provider's stock worth $169,000 after acquiring an additional 1,306 shares in the last quarter. 180 Wealth Advisors LLC increased its holdings in shares of American International Group by 13.7% in the 2nd quarter. 180 Wealth Advisors LLC now owns 5,397 shares of the insurance provider's stock valued at $281,000 after acquiring an additional 652 shares during the period. Belpointe Asset Management LLC raised its position in shares of American International Group by 24.9% in the 1st quarter. Belpointe Asset Management LLC now owns 3,014 shares of the insurance provider's stock worth $189,000 after acquiring an additional 601 shares in the last quarter. Mackenzie Financial Corp lifted its stake in shares of American International Group by 17.0% during the 4th quarter. Mackenzie Financial Corp now owns 364,136 shares of the insurance provider's stock worth $20,705,000 after purchasing an additional 53,013 shares during the last quarter. Finally, Seelaus Asset Management LLC boosted its position in American International Group by 20.3% during the first quarter. Seelaus Asset Management LLC now owns 27,530 shares of the insurance provider's stock valued at $1,728,000 after purchasing an additional 4,655 shares in the last quarter. 90.18% of the stock is currently owned by institutional investors.
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Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. StockNews.com cut shares of American International Group from a "buy" rating to a "hold" rating in a report on Saturday, July 2nd. Credit Suisse Group upped their price target on American International Group from $50.00 to $60.00 and gave the stock a "neutral" rating in a research report on Monday, September 12th. Finally, Barclays lowered their price objective on American International Group from $63.00 to $56.00 and set an "equal weight" rating for the company in a research report on Thursday, July 14th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $65.29.
American International Group Stock Performance
Shares of AIG stock opened at $49.18 on Tuesday. The business has a fifty day moving average of $52.92 and a 200 day moving average of $55.80. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a market capitalization of $37.40 billion, a price-to-earnings ratio of 3.23 and a beta of 1.16. American International Group, Inc. has a 1 year low of $47.05 and a 1 year high of $65.73.
American International Group (NYSE:AIG – Get Rating) last issued its earnings results on Monday, August 8th. The insurance provider reported $1.19 EPS for the quarter, missing analysts' consensus estimates of $1.23 by ($0.04). The firm had revenue of $10.90 billion during the quarter, compared to analysts' expectations of $11.19 billion. American International Group had a net margin of 22.23% and a return on equity of 7.12%. During the same quarter in the prior year, the company earned $1.52 EPS. As a group, research analysts expect that American International Group, Inc. will post 5.03 earnings per share for the current year.
American International Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.60%. The ex-dividend date was Thursday, September 15th. American International Group's payout ratio is 8.40%.
Insider Activity
In other American International Group news, EVP Luciana Fato sold 17,000 shares of the company's stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $54.01, for a total value of $918,170.00. Following the sale, the executive vice president now owns 45,444 shares in the company, valued at approximately $2,454,430.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Luciana Fato sold 17,000 shares of the stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $54.01, for a total transaction of $918,170.00. Following the sale, the executive vice president now directly owns 45,444 shares of the company's stock, valued at approximately $2,454,430.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder International Group American sold 80,000,000 shares of American International Group stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $21.00, for a total value of $1,680,000,000.00. Following the completion of the transaction, the insider now owns 501,145,000 shares of the company's stock, valued at approximately $10,524,045,000. The disclosure for this sale can be found here. Insiders own 0.31% of the company's stock.
American International Group Profile
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American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment provides general liability, environmental, commercial automobile liability, workers' compensation, casualty, and crisis management insurance products; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, crop, and marine insurance.
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