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Brown Advisory Inc. Boosts Stock Holdings in American International Group, Inc. (NYSE:AIG)

Defense World · Oct 24, 2022 08:13

Brown Advisory Inc. grew its position in shares of American International Group, Inc. (NYSE:AIG – Get Rating) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,954 shares of the insurance provider's stock after buying an additional 1,861 shares during the quarter. Brown Advisory Inc.'s holdings in American International Group were worth $3,832,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in AIG. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in American International Group by 0.3% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,292 shares of the insurance provider's stock worth $3,345,000 after purchasing an additional 167 shares during the last quarter. Tyler Stone Wealth Management boosted its holdings in American International Group by 6.1% in the first quarter. Tyler Stone Wealth Management now owns 3,265 shares of the insurance provider's stock worth $205,000 after purchasing an additional 187 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in American International Group by 20.9% in the first quarter. Parkside Financial Bank & Trust now owns 1,110 shares of the insurance provider's stock worth $69,000 after purchasing an additional 192 shares during the last quarter. Goodwin Daniel L boosted its holdings in American International Group by 2.4% in the first quarter. Goodwin Daniel L now owns 9,625 shares of the insurance provider's stock worth $604,000 after purchasing an additional 225 shares during the last quarter. Finally, 44 Wealth Management LLC boosted its holdings in American International Group by 1.3% in the first quarter. 44 Wealth Management LLC now owns 18,497 shares of the insurance provider's stock worth $1,161,000 after purchasing an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 90.18% of the company's stock.

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Insider Activity at American International Group

In related news, EVP Luciana Fato sold 17,000 shares of the firm's stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $54.01, for a total transaction of $918,170.00. Following the completion of the transaction, the executive vice president now directly owns 45,444 shares of the company's stock, valued at $2,454,430.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other American International Group news, major shareholder International Group American sold 80,000,000 shares of American International Group stock in a transaction on 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 directly owns 501,145,000 shares of the company's stock, valued at approximately $10,524,045,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Luciana Fato sold 17,000 shares of American International Group stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $54.01, for a total transaction of $918,170.00. Following the completion of the transaction, the executive vice president now directly owns 45,444 shares of the company's stock, valued at $2,454,430.44. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company began coverage on shares of American International Group in a report on Monday, October 10th. They issued an "equal weight" rating on the stock. Evercore ISI decreased their price target on shares of American International Group to $56.00 in a research report on Thursday, October 13th. Barclays decreased their price target on shares of American International Group from $56.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Friday, October 14th. Piper Sandler decreased their price target on shares of American International Group from $68.00 to $62.00 in a research report on Monday, October 10th. Finally, StockNews.com began coverage on shares of American International Group in a research report on Wednesday, October 12th. They issued a "hold" rating on the stock. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, American International Group has a consensus rating of "Hold" and a consensus target price of $63.20.

American International Group Stock Up 1.7 %

Shares of AIG stock opened at $52.71 on Monday. The company has a market capitalization of $40.08 billion, a price-to-earnings ratio of 3.46 and a beta of 1.15. American International Group, Inc. has a one year low of $47.05 and a one year high of $65.73. The company's fifty day moving average price is $52.43 and its 200-day moving average price is $54.65. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.32 and a quick ratio of 0.32.

American International Group (NYSE:AIG – Get Rating) last posted its earnings results on Monday, August 8th. The insurance provider reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.04). The company had revenue of $10.90 billion for 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 period in the previous year, the business posted $1.52 earnings per share. Sell-side analysts expect that American International Group, Inc. will post 4.62 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $1.28 annualized dividend and a yield of 2.43%. American International Group's payout ratio is 8.40%.

About American International Group

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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.