Corient Private Wealth LP Has $24.73 Million Position in American International Group, Inc. $AIG

Corient Private Wealth LP cut its position in American International Group, Inc. (NYSE:AIG) by 6.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 331,862 shares of the insurance provider’s stock after selling 23,068 shares during the quarter. Corient Private Wealth LP’s holdings in American International Group were worth $24,734,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of American International Group in the fourth quarter valued at approximately $636,782,000. Bank of New York Mellon Corp acquired a new stake in American International Group during the 2nd quarter worth approximately $496,890,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in American International Group during the 2nd quarter worth approximately $464,539,000. Price T Rowe Associates Inc. MD grew its holdings in American International Group by 39.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock worth $1,400,613,000 after acquiring an additional 4,661,246 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in American International Group by 36.9% during the 4th quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock worth $1,336,147,000 after acquiring an additional 4,210,363 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AIG has been the subject of several recent research reports. Barclays upped their price target on shares of American International Group from $80.00 to $81.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. boosted their price objective on shares of American International Group from $86.00 to $90.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. BMO Capital Markets increased their price objective on American International Group from $83.00 to $89.00 in a report on Thursday, May 7th. The Goldman Sachs Group raised their target price on American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Finally, Morgan Stanley cut their target price on American International Group from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 12th. Seven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $88.28.

American International Group Stock Performance

NYSE:AIG opened at $77.02 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.29. The company has a 50 day simple moving average of $77.92 and a two-hundred day simple moving average of $77.01. The company has a market capitalization of $40.27 billion, a PE ratio of 14.08, a P/E/G ratio of 0.70 and a beta of 0.53.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Thursday, August 6th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.08. American International Group had a net margin of 11.13% and a return on equity of 11.05%. The firm had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same quarter in the previous year, the company earned $1.81 EPS. Research analysts anticipate that American International Group, Inc. will post 8.02 earnings per share for the current year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a $0.50 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $2.00 annualized dividend and a yield of 2.6%. American International Group’s payout ratio is presently 36.56%.

Insider Transactions at American International Group

In other American International Group news, insider Peter Zaffino sold 200,000 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total transaction of $15,294,000.00. Following the sale, the insider owned 592,833 shares of the company’s stock, valued at approximately $45,333,939.51. This represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by insiders.

About American International Group

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.