American International Group, Inc. $AIG Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC cut its stake in shares of American International Group, Inc. (NYSE:AIG) by 13.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,200 shares of the insurance provider’s stock after selling 9,500 shares during the period. Gabelli Funds LLC’s holdings in American International Group were worth $4,650,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Westfuller Advisors LLC acquired a new position in shares of American International Group in the 3rd quarter valued at $26,000. Atlantic Union Bankshares Corp raised its holdings in American International Group by 7,100.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock worth $28,000 after buying an additional 355 shares during the period. Eastern Bank lifted its stake in American International Group by 2,473.3% during the third quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock valued at $30,000 after buying an additional 371 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in American International Group during the second quarter valued at about $32,000. Finally, Motco boosted its holdings in shares of American International Group by 950.0% in the third quarter. Motco now owns 420 shares of the insurance provider’s stock worth $33,000 after buying an additional 380 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of American International Group in a research report on Monday, December 29th. Royal Bank Of Canada began coverage on shares of American International Group in a research note on Tuesday, November 25th. They issued a “sector perform” rating and a $85.00 price objective for the company. Mizuho lifted their price objective on shares of American International Group from $83.00 to $86.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Jefferies Financial Group increased their target price on American International Group from $96.00 to $101.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Finally, TD Cowen raised their target price on American International Group from $86.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, American International Group currently has an average rating of “Hold” and an average target price of $87.95.

American International Group Price Performance

NYSE AIG opened at $77.62 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61. The firm has a market capitalization of $41.65 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 0.61 and a beta of 0.58. The company has a 50 day simple moving average of $77.36 and a 200-day simple moving average of $78.87. American International Group, Inc. has a 52-week low of $71.25 and a 52-week high of $88.07.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Tuesday, February 10th. The insurance provider reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.06. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.99 billion. American International Group had a net margin of 11.56% and a return on equity of 9.79%. During the same period in the previous year, the firm posted $1.30 earnings per share. Equities research analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Monday, March 16th. American International Group’s payout ratio is currently 33.21%.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.