Andra AP fonden Sells 29,200 Shares of American International Group, Inc. (NYSE:AIG)

Andra AP fonden cut its holdings in American International Group, Inc. (NYSE:AIG) by 60.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,300 shares of the insurance provider’s stock after selling 29,200 shares during the period. Andra AP fonden’s holdings in American International Group were worth $1,433,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AIG. Choreo LLC increased its stake in American International Group by 517.7% during the second quarter. Choreo LLC now owns 21,299 shares of the insurance provider’s stock worth $1,586,000 after acquiring an additional 17,851 shares during the last quarter. Wedbush Securities Inc. raised its holdings in American International Group by 8.6% during the 2nd quarter. Wedbush Securities Inc. now owns 13,439 shares of the insurance provider’s stock valued at $998,000 after buying an additional 1,063 shares during the period. Quest Partners LLC bought a new stake in American International Group in the second quarter worth $1,193,000. Oak Thistle LLC purchased a new position in American International Group during the second quarter worth $1,012,000. Finally, Mount Lucas Management LP bought a new position in American International Group during the second quarter valued at $2,166,000. 90.60% of the stock is currently owned by institutional investors.

American International Group Stock Up 1.4 %

Shares of American International Group stock opened at $73.20 on Friday. American International Group, Inc. has a 1 year low of $57.72 and a 1 year high of $80.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $48.58 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 3.58 and a beta of 1.06. The firm’s 50-day moving average is $74.83 and its two-hundred day moving average is $75.63.

American International Group (NYSE:AIG) last issued its quarterly earnings data 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 business had revenue of $1.00 million for the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.75 earnings per share. As a group, research analysts expect that American International Group, Inc. will post 5.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Monday, September 16th. American International Group’s payout ratio is 23.88%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AIG shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $87.00 price target on shares of American International Group in a research note on Tuesday, July 9th. Piper Sandler dropped their target price on American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company reduced their price target on American International Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Bank of America boosted their price objective on American International Group from $81.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Evercore ISI reduced their target price on American International Group from $81.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $83.88.

Insider Buying and Selling

In other American International Group news, major shareholder International Group American sold 1,932,609 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total value of $56,432,182.80. Following the completion of the transaction, the insider now directly owns 292,271,027 shares in the company, valued at $8,534,313,988.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is currently owned by company insiders.

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.