Corebridge Financial Inc. Lowers Stock Holdings in American International Group, Inc. (NYSE:AIG)

Corebridge Financial Inc. lowered its stake in American International Group, Inc. (NYSE:AIG) by 7.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 143,361 shares of the insurance provider’s stock after selling 11,730 shares during the period. Corebridge Financial Inc.’s holdings in American International Group were worth $10,437,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AIG. Great Valley Advisor Group Inc. increased its holdings in shares of American International Group by 3.7% during the third quarter. Great Valley Advisor Group Inc. now owns 5,758 shares of the insurance provider’s stock valued at $422,000 after acquiring an additional 208 shares in the last quarter. Cerity Partners LLC increased its stake in American International Group by 40.5% during the 3rd quarter. Cerity Partners LLC now owns 165,676 shares of the insurance provider’s stock valued at $12,132,000 after purchasing an additional 47,722 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in American International Group by 6.2% in the third quarter. Kingsview Wealth Management LLC now owns 7,209 shares of the insurance provider’s stock worth $528,000 after buying an additional 423 shares during the last quarter. Fisher Asset Management LLC bought a new position in shares of American International Group in the third quarter worth approximately $291,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of American International Group during the third quarter valued at approximately $599,000. Institutional investors own 90.60% of the company’s stock.

American International Group Price Performance

NYSE AIG opened at $84.17 on Thursday. The business’s fifty day moving average is $78.16 and its 200 day moving average is $75.77. American International Group, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $85.11. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $49.94 billion, a PE ratio of -40.47, a price-to-earnings-growth ratio of 1.01 and a beta of 0.98.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. Sell-side analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.60 annualized dividend and a dividend yield of 1.90%. American International Group’s payout ratio is -76.92%.

Insider Activity at American International Group

In other American International Group news, Director John G. Rice bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average price of $77.00 per share, for a total transaction of $770,000.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $770,000. This trade represents a ? increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on AIG. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $79.00 price objective (down from $83.00) on shares of American International Group in a research report on Wednesday, January 8th. BMO Capital Markets upped their price target on American International Group from $75.00 to $83.00 and gave the company a “market perform” rating in a report on Thursday, March 13th. Morgan Stanley lifted their price objective on American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Keefe, Bruyette & Woods upped their target price on shares of American International Group from $87.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, February 14th. Finally, Wells Fargo & Company lifted their price target on shares of American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, American International Group presently has an average rating of “Moderate Buy” and an average price target of $84.31.

About American International Group

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.