American International Group, Inc. $AIG Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of American International Group, Inc. (NYSE:AIG) by 8.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,239,132 shares of the insurance provider’s stock after selling 114,666 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in American International Group were worth $92,216,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Bancorp Inc ME bought a new stake in American International Group in the second quarter worth about $30,000. Fiduciary Financial Advisors purchased a new position in shares of American International Group during the second quarter valued at approximately $34,000. Center for Financial Planning Inc. boosted its position in shares of American International Group by 52.0% during the third quarter. Center for Financial Planning Inc. now owns 456 shares of the insurance provider’s stock valued at $34,000 after buying an additional 156 shares during the period. Elevation Wealth Partners LLC grew its stake in shares of American International Group by 71.6% during the third quarter. Elevation Wealth Partners LLC now owns 556 shares of the insurance provider’s stock valued at $41,000 after buying an additional 232 shares during the last quarter. Finally, Cedar Mountain Advisors LLC bought a new position in shares of American International Group during the first quarter valued at approximately $50,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AIG. Morgan Stanley reduced their price target on American International Group from $81.00 to $80.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 6th. Wells Fargo & Company dropped their price objective on American International Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a report on Monday, October 12th. JPMorgan Chase & Co. upped their price objective on American International Group from $86.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Piper Sandler increased their target price on American International Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Finally, Keefe, Bruyette & Woods reduced their target price on American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a research note on Monday, October 12th. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $87.68.

American International Group Price Performance

American International Group stock opened at $82.45 on Tuesday. The stock has a market cap of $43.11 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 0.84 and a beta of 0.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $87.29. The firm has a 50-day moving average of $77.19 and a two-hundred day moving average of $76.80.

American International Group (NYSE:AIG) last issued its earnings results on Friday, August 7th. The insurance provider reported $2.00 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 business had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same period in the prior year, the firm earned $1.81 EPS. On average, research analysts forecast that American International Group, Inc. will post 8.07 earnings per share for the current year.

American International Group Dividend Announcement

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

Insiders Place Their Bets

In other American International Group news, insider Peter Zaffino sold 36,829 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $76.14, for a total value of $2,804,160.06. Following the completion of the sale, the insider owned 556,004 shares of the company’s stock, valued at approximately $42,334,144.56. This trade represents a 6.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company’s stock.

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.