Generali Asset Management SPA SGR Sells 7,916 Shares of American International Group, Inc. $AIG

Generali Asset Management SPA SGR lessened its holdings in shares of American International Group, Inc. (NYSE:AIG) by 69.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,473 shares of the insurance provider’s stock after selling 7,916 shares during the quarter. Generali Asset Management SPA SGR’s holdings in American International Group were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP grew its holdings in American International Group by 6.9% in the 2nd quarter. Wellington Management Group LLP now owns 30,331,704 shares of the insurance provider’s stock worth $2,260,622,000 after buying an additional 1,961,270 shares in the last quarter. State Street Corp increased its position in American International Group by 0.8% in the 2nd quarter. State Street Corp now owns 25,115,416 shares of the insurance provider’s stock valued at $1,871,852,000 after acquiring an additional 196,969 shares during the period. Bank of New York Mellon Corp raised its stake in American International Group by 6.1% during the 1st quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider’s stock valued at $619,862,000 after acquiring an additional 474,035 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in American International Group during the 2nd quarter valued at $464,539,000. Finally, Dimensional Fund Advisors LP boosted its position in American International Group by 5.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,142,278 shares of the insurance provider’s stock worth $462,147,000 after acquiring an additional 303,201 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Argus reissued a “buy” rating and issued a $90.00 price target on shares of American International Group in a research note on Wednesday, September 2nd. UBS Group lifted their price objective on shares of American International Group from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, October 6th. Morgan Stanley cut their price objective on shares of American International Group from $81.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of American International Group in a report on Tuesday, September 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of American International Group from $86.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Eight investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $87.68.

Insider Buying and Selling at American International Group

In other news, insider Peter Zaffino sold 200,000 shares of American International Group stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total value of $15,294,000.00. Following the transaction, the insider owned 592,833 shares of the company’s stock, valued at $45,333,939.51. The trade was a 25.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.

American International Group Stock Up 0.6%

AIG opened at $81.90 on Friday. The stock’s fifty day moving average is $77.07 and its 200-day moving average is $76.75. American International Group, Inc. has a one year low of $71.25 and a one year high of $87.29. The company has a market capitalization of $42.82 billion, a PE ratio of 9.85, a P/E/G ratio of 0.85 and a beta of 0.52. 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 (NYSE:AIG) last released its earnings results on Friday, August 7th. 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 return on equity of 11.05% and a net margin of 11.13%. The firm had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.25 billion. During the same period in the previous year, the company earned $1.81 earnings per share. On average, equities analysts predict that American International Group, Inc. will post 8.07 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. American International Group’s dividend payout ratio (DPR) is 36.56%.

American International Group Profile

American International Group, Inc (NYSE:AIG) is a global insurance organization that provides property and casualty insurance products and related services to businesses, institutions, and individuals. Its offerings include commercial insurance, personal insurance, specialty coverage, accident and health products, and travel-related protection.

AIG serves customers through operations in the United States and international markets. Its commercial insurance business supports companies across industries with coverage such as property, casualty, liability, marine, and other specialty risks, while its personal insurance operations provide protection for individuals and families.

The company was founded in Shanghai in 1919 by Cornelius Vander Starr and is headquartered in New York City.