American International Group, Inc. (NYSE:AIG) Shares Sold by LSV Asset Management

LSV Asset Management cut its stake in shares of American International Group, Inc. (NYSE:AIG) by 3.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,394,390 shares of the insurance provider’s stock after selling 218,940 shares during the quarter. American International Group comprises about 0.9% of LSV Asset Management’s investment portfolio, making the stock its 17th largest position. LSV Asset Management owned approximately 0.81% of American International Group worth $400,480,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Morton Community Bank grew its stake in shares of American International Group by 4.6% during the 2nd quarter. Morton Community Bank now owns 45,945 shares of the insurance provider’s stock worth $3,411,000 after purchasing an additional 2,030 shares during the period. Caprock Group LLC grew its stake in shares of American International Group by 182.4% during the 2nd quarter. Caprock Group LLC now owns 32,981 shares of the insurance provider’s stock worth $2,449,000 after purchasing an additional 21,304 shares during the period. Acadian Asset Management LLC grew its stake in shares of American International Group by 484.8% during the 2nd quarter. Acadian Asset Management LLC now owns 22,772 shares of the insurance provider’s stock worth $1,690,000 after purchasing an additional 18,878 shares during the period. Cobblestone Capital Advisors LLC NY grew its stake in shares of American International Group by 10.3% during the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 5,083 shares of the insurance provider’s stock worth $377,000 after purchasing an additional 475 shares during the period. Finally, Great Lakes Advisors LLC grew its stake in shares of American International Group by 64.8% during the 2nd quarter. Great Lakes Advisors LLC now owns 51,811 shares of the insurance provider’s stock worth $3,846,000 after purchasing an additional 20,376 shares during the period. 90.60% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 8,032,129 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total value of $200,000,012.10. Following the transaction, the insider now owns 284,238,898 shares in the company, valued at $7,077,548,560.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.61% of the company’s stock.

American International Group Trading Down 2.6 %

Shares of AIG stock traded down $1.93 during trading hours on Friday, hitting $71.91. 7,205,390 shares of the company were exchanged, compared to its average volume of 4,151,511. The firm has a market cap of $47.72 billion, a PE ratio of 10.73, a PEG ratio of 3.84 and a beta of 1.06. American International Group, Inc. has a 1 year low of $57.72 and a 1 year high of $80.83. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22. The firm has a fifty day moving average of $75.02 and a 200 day moving average of $75.60.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.14). The company had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.75 earnings per share. Analysts expect that American International Group, Inc. will post 5.24 earnings per share for the current year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, September 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.23%. American International Group’s payout ratio is currently 23.88%.

Analysts Set New Price Targets

AIG has been the topic of a number of research reports. Bank of America increased their price objective on shares of American International Group from $81.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Piper Sandler lowered their price objective on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Keefe, Bruyette & Woods lowered their price objective on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. Barclays initiated coverage on shares of American International Group in a research note on Wednesday. They issued an “overweight” rating and a $90.00 price objective on the stock. Finally, Wells Fargo & Company lowered their price objective on shares of American International Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $83.88.

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.