Sitrin Capital Management LLC Has $6.67 Million Stake in American International Group, Inc. (NYSE:AIG)

Sitrin Capital Management LLC trimmed its position in American International Group, Inc. (NYSE:AIG) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,063 shares of the insurance provider’s stock after selling 820 shares during the quarter. American International Group makes up 3.3% of Sitrin Capital Management LLC’s portfolio, making the stock its 11th biggest position. Sitrin Capital Management LLC’s holdings in American International Group were worth $6,669,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Forum Financial Management LP increased its holdings in American International Group by 1.1% in the second quarter. Forum Financial Management LP now owns 12,173 shares of the insurance provider’s stock valued at $904,000 after purchasing an additional 128 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of American International Group by 5.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,691 shares of the insurance provider’s stock worth $210,000 after buying an additional 136 shares during the period. Quent Capital LLC increased its stake in shares of American International Group by 4.0% in the 2nd quarter. Quent Capital LLC now owns 3,834 shares of the insurance provider’s stock valued at $285,000 after acquiring an additional 146 shares during the last quarter. New Republic Capital LLC raised its position in shares of American International Group by 5.2% in the 1st quarter. New Republic Capital LLC now owns 3,290 shares of the insurance provider’s stock valued at $257,000 after acquiring an additional 164 shares during the period. Finally, Avantax Advisory Services Inc. boosted its position in shares of American International Group by 2.8% during the first quarter. Avantax Advisory Services Inc. now owns 6,106 shares of the insurance provider’s stock worth $477,000 after purchasing an additional 165 shares in the last quarter. 90.60% of the stock is owned by institutional investors.

Insider Activity

In other American International Group news, major shareholder International Group American sold 8,032,129 shares of the company’s stock in a transaction 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 directly owns 284,238,898 shares in the company, valued at $7,077,548,560.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.61% of the company’s stock.

American International Group Stock Up 0.8 %

AIG traded up $0.62 during trading on Friday, reaching $76.50. 592,446 shares of the stock were exchanged, compared to its average volume of 4,063,885. The stock has a market cap of $49.26 billion, a P/E ratio of -58.82, a price-to-earnings-growth ratio of 5.29 and a beta of 1.06. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67. The stock’s 50 day moving average price is $75.08 and its two-hundred day moving average price is $75.56. American International Group, Inc. has a twelve month low of $62.52 and a twelve month high of $80.83.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.14). The firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.64 billion. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the business posted $1.75 earnings per share. Equities analysts expect that American International Group, Inc. will post 4.99 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $87.00 price target on shares of American International Group in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods cut their price target 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. TD Cowen lowered their price objective on shares of American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Citigroup cut their price objective on shares of American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, July 23rd. Finally, StockNews.com cut American International Group from a “hold” rating to a “sell” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $84.38.

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.