Fifth Third Bancorp Sells 1,211 Shares of American International Group, Inc. $AIG

Fifth Third Bancorp reduced its position in shares of American International Group, Inc. (NYSE:AIG) by 1.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 86,961 shares of the insurance provider’s stock after selling 1,211 shares during the quarter. Fifth Third Bancorp’s holdings in American International Group were worth $7,443,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sheets Smith Wealth Management bought a new stake in American International Group during the 2nd quarter valued at $670,000. Opal Wealth Advisors LLC raised its holdings in American International Group by 40.5% during the 2nd quarter. Opal Wealth Advisors LLC now owns 7,962 shares of the insurance provider’s stock valued at $681,000 after buying an additional 2,296 shares during the last quarter. Golden State Equity Partners raised its holdings in American International Group by 13.8% during the 2nd quarter. Golden State Equity Partners now owns 5,499 shares of the insurance provider’s stock valued at $471,000 after buying an additional 667 shares during the last quarter. GAMMA Investing LLC raised its holdings in American International Group by 10.5% during the 2nd quarter. GAMMA Investing LLC now owns 14,567 shares of the insurance provider’s stock valued at $1,247,000 after buying an additional 1,380 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in American International Group by 23.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 8,932 shares of the insurance provider’s stock valued at $765,000 after buying an additional 1,709 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors.

American International Group Stock Down 1.0%

Shares of NYSE AIG opened at $77.13 on Friday. The firm has a fifty day simple moving average of $79.44 and a two-hundred day simple moving average of $81.84. The firm has a market capitalization of $42.73 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 0.83 and a beta of 0.70. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 12 month low of $69.24 and a 12 month high of $88.07.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.21. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.81 billion. American International Group had a net margin of 11.51% and a return on equity of 7.88%. During the same period last year, the business earned $1.16 EPS. Equities analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 16th. American International Group’s dividend payout ratio (DPR) is presently 34.09%.

Analyst Ratings Changes

AIG has been the subject of a number of recent analyst reports. Cfra Research upgraded shares of American International Group to a “moderate buy” rating in a report on Monday, August 11th. William Blair upgraded shares of American International Group to a “strong-buy” rating in a report on Friday, August 1st. Cantor Fitzgerald upgraded shares of American International Group to a “hold” rating in a report on Tuesday, August 12th. Citigroup assumed coverage on shares of American International Group in a report on Wednesday, August 13th. They issued a “neutral” rating and a $85.00 price objective for the company. Finally, Wolfe Research assumed coverage on shares of American International Group in a report on Tuesday, September 16th. They issued a “peer perform” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.27.

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.