Parcion Private Wealth LLC Reduces Stock Holdings in American International Group, Inc. $AIG

Parcion Private Wealth LLC decreased its stake in American International Group, Inc. (NYSE:AIG) by 3.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,620 shares of the insurance provider’s stock after selling 139 shares during the quarter. Parcion Private Wealth LLC’s holdings in American International Group were worth $310,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AIG. GQG Partners LLC boosted its holdings in 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 valued at $1,643,995,000 after acquiring an additional 18,852,949 shares during the period. Bank of New York Mellon Corp boosted its holdings in 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 valued at $974,840,000 after acquiring an additional 1,901,998 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its holdings in American International Group by 22.8% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 9,113,636 shares of the insurance provider’s stock valued at $792,340,000 after acquiring an additional 1,694,290 shares during the period. Nuveen LLC purchased a new position in American International Group during the 1st quarter valued at $440,273,000. Finally, AQR Capital Management LLC boosted its holdings in 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 valued at $287,214,000 after acquiring an additional 2,162,545 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on AIG. Evercore ISI boosted their price objective on American International Group from $89.00 to $90.00 and gave the company an “in-line” rating in a report on Wednesday, October 1st. Piper Sandler dropped their price objective 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. William Blair upgraded American International Group to a “strong-buy” rating in a report on Friday, August 1st. Keefe, Bruyette & Woods decreased their target price on American International Group from $97.00 to $91.00 and set an “outperform” rating for the company in a research report on Tuesday, August 12th. Finally, UBS Group lifted their target price on American International Group from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.81.

American International Group Trading Up 0.7%

Shares of NYSE AIG opened at $78.90 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $79.96 and a two-hundred day simple moving average of $81.38. The firm has a market cap of $43.71 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 0.77 and a beta of 0.68. American International Group, Inc. has a twelve month low of $69.24 and a twelve month high of $88.07.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.60 by $0.21. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates 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 period in the previous year, the company posted $1.16 EPS. Analysts expect 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 declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 16th. American International Group’s payout ratio is presently 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.