SeaBridge Investment Advisors LLC Has $1.59 Million Stock Holdings in American International Group, Inc. $AIG

SeaBridge Investment Advisors LLC lessened its stake in American International Group, Inc. (NYSE:AIG) by 6.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 18,615 shares of the insurance provider’s stock after selling 1,260 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in American International Group were worth $1,593,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Sachetta LLC raised its stake in shares of American International Group by 194.5% during the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 249 shares in the last quarter. Hemington Wealth Management increased its holdings in American International Group by 42.8% in the first quarter. Hemington Wealth Management now owns 474 shares of the insurance provider’s stock worth $41,000 after buying an additional 142 shares during the last quarter. NBC Securities Inc. bought a new position in American International Group during the first quarter valued at approximately $47,000. WPG Advisers LLC acquired a new stake in American International Group in the first quarter valued at approximately $47,000. Finally, SouthState Corp grew its position in American International Group by 798.5% in the first quarter. SouthState Corp now owns 584 shares of the insurance provider’s stock worth $51,000 after acquiring an additional 519 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

Shares of NYSE:AIG opened at $78.00 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63. The business’s fifty day moving average price is $79.38 and its two-hundred day moving average price is $81.82. American International Group, Inc. has a fifty-two week low of $69.24 and a fifty-two week high of $88.07. The stock has a market capitalization of $43.21 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 0.83 and a beta of 0.70.

American International Group (NYSE:AIG) last announced its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.60 by $0.21. The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.81 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same period in the previous year, the business earned $1.16 EPS. As a group, analysts predict that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AIG shares. Wolfe Research initiated coverage on American International Group in a research note on Tuesday, September 16th. They set a “peer perform” rating for the company. Cfra Research upgraded American International Group to a “moderate buy” rating in a report on Monday, August 11th. Citigroup initiated coverage on shares of American International Group in a research note on Wednesday, August 13th. They issued a “neutral” rating and a $85.00 price objective for the company. Cantor Fitzgerald raised shares of American International Group to a “hold” rating in a report on Tuesday, August 12th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of American International Group from $97.00 to $91.00 and set an “outperform” rating on the stock in a report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, American International Group has an average rating of “Moderate Buy” and a consensus price target of $88.27.

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.