American International Group, Inc. $AIG Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its stake in shares of American International Group, Inc. (NYSE:AIG) by 4.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,097 shares of the insurance provider’s stock after selling 2,906 shares during the quarter. Mutual of America Capital Management LLC’s holdings in American International Group were worth $5,657,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AIG. GQG Partners LLC grew its holdings in shares of American International Group by 33,315.0% during the 1st quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider’s stock worth $1,643,995,000 after purchasing an additional 18,852,949 shares during the period. Nuveen LLC purchased a new stake in shares of American International Group during the 1st quarter worth about $440,273,000. AQR Capital Management LLC grew its holdings in shares of American International Group by 184.4% during the 1st quarter. AQR Capital Management LLC now owns 3,335,040 shares of the insurance provider’s stock worth $287,214,000 after purchasing an additional 2,162,545 shares during the period. Raymond James Financial Inc. grew its holdings in shares of American International Group by 151.6% during the 1st quarter. Raymond James Financial Inc. now owns 3,285,963 shares of the insurance provider’s stock worth $285,682,000 after purchasing an additional 1,980,001 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of American International Group by 20.4% during the 1st quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider’s stock worth $974,840,000 after purchasing an additional 1,901,998 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

Wall Street Analyst Weigh In

AIG has been the subject of a number of research reports. Wolfe Research initiated coverage on American International Group in a report on Tuesday, September 16th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. boosted their target price on American International Group from $95.00 to $97.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. William Blair upgraded American International Group to a “strong-buy” rating in a report on Friday, August 1st. Morgan Stanley decreased their target price on American International Group from $85.00 to $84.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. Finally, Jefferies Financial Group upped their price target on American International Group from $96.00 to $99.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, American International Group has a consensus rating of “Moderate Buy” and an average target price of $89.81.

American International Group Stock Up 0.9%

NYSE AIG opened at $78.39 on Wednesday. The stock has a market cap of $43.43 billion, a PE ratio of 14.85, a P/E/G ratio of 0.77 and a beta of 0.68. American International Group, Inc. has a fifty-two week low of $69.24 and a fifty-two week high of $88.07. The business has a 50 day moving average price of $79.98 and a two-hundred day moving average price of $81.40. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.21. The firm had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.81 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same quarter in the prior year, the business earned $1.16 EPS. As a group, sell-side analysts predict that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Tuesday, September 16th. American International Group’s dividend payout ratio is currently 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.