Sumitomo Mitsui Trust Group Inc. Reduces Holdings in American International Group, Inc. $AIG

Sumitomo Mitsui Trust Group Inc. lowered its position in American International Group, Inc. (NYSE:AIG) by 6.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,426,024 shares of the insurance provider’s stock after selling 92,098 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.25% of American International Group worth $122,053,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC purchased a new position in shares of American International Group in the fourth quarter worth about $1,091,000. GAMMA Investing LLC lifted its stake in shares of American International Group by 18.6% during the 1st quarter. GAMMA Investing LLC now owns 13,187 shares of the insurance provider’s stock valued at $1,146,000 after buying an additional 2,069 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in American International Group by 2.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,625 shares of the insurance provider’s stock worth $1,445,000 after buying an additional 355 shares during the period. PDS Planning Inc grew its stake in American International Group by 6.3% in the 1st quarter. PDS Planning Inc now owns 4,094 shares of the insurance provider’s stock valued at $356,000 after buying an additional 244 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in American International Group by 17.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 61,232 shares of the insurance provider’s stock valued at $5,120,000 after acquiring an additional 9,061 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on AIG. UBS Group increased their target price on American International Group from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Wall Street Zen raised American International Group from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Piper Sandler reduced their target price on American International Group from $96.00 to $88.00 and set an “overweight” rating for the company in a report on Thursday, October 2nd. Cantor Fitzgerald raised shares of American International Group to a “hold” rating in a report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of American International Group from $95.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.81.

American International Group Stock Performance

Shares of AIG opened at $78.93 on Friday. American International Group, Inc. has a 12-month low of $69.24 and a 12-month high of $88.07. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. The company has a market cap of $43.73 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 0.78 and a beta of 0.68. The stock has a 50-day moving average price of $79.91 and a 200-day moving average price of $81.42.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.21. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The company had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the prior year, the business earned $1.16 earnings per share. As a group, equities analysts forecast 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 disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a dividend of $0.45 per share. The ex-dividend date was Tuesday, September 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. American International Group’s dividend payout ratio (DPR) is 34.09%.

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.