Sumitomo Mitsui Trust Group Inc. Sells 92,098 Shares of American International Group, Inc. $AIG

Sumitomo Mitsui Trust Group Inc. decreased its position in American International Group, Inc. (NYSE:AIG) by 6.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,426,024 shares of the insurance provider’s stock after selling 92,098 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in American International Group were worth $122,053,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sachetta LLC lifted its holdings in shares of American International Group by 194.5% in the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 249 shares during the last quarter. GFG Capital LLC bought a new position in shares of American International Group during the 2nd quarter valued at $33,000. Barrett & Company Inc. purchased a new position in American International Group in the 2nd quarter worth $35,000. Caitong International Asset Management Co. Ltd bought a new stake in American International Group in the second quarter worth $40,000. Finally, Hemington Wealth Management boosted its position in American International Group by 42.8% during the first quarter. Hemington Wealth Management now owns 474 shares of the insurance provider’s stock valued at $41,000 after buying an additional 142 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

Shares of AIG stock opened at $78.93 on Friday. The firm has a market capitalization of $43.73 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 0.78 and a beta of 0.68. The stock has a fifty day moving average of $79.91 and a 200 day moving average of $81.42. American International Group, Inc. has a 52 week low of $69.24 and a 52 week high of $88.07. 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 issued its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.21. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the previous year, the firm earned $1.16 EPS. As a group, research analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a $0.45 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $1.80 annualized dividend and a yield of 2.3%. American International Group’s dividend payout ratio (DPR) is 34.09%.

Analyst Ratings Changes

AIG has been the subject of a number of recent research reports. Piper Sandler lowered their target price on American International Group from $96.00 to $88.00 and set an “overweight” rating for the company in a research note on Thursday, October 2nd. The Goldman Sachs Group boosted their price objective on American International Group from $85.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Wolfe Research assumed coverage on American International Group in a research note on Tuesday, September 16th. They set a “peer perform” rating for the company. Citigroup started coverage on shares of American International Group in a research note on Wednesday, August 13th. They issued a “neutral” rating and a $85.00 target price on the stock. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of American International Group in a research report on Friday. 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $89.81.

American International Group 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.