Mutual of America Capital Management LLC Has $6.21 Million Stock Position in American International Group, Inc. (NYSE:AIG)

Mutual of America Capital Management LLC reduced its position in American International Group, Inc. (NYSE:AIG) by 9.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 83,695 shares of the insurance provider’s stock after selling 8,350 shares during the period. Mutual of America Capital Management LLC’s holdings in American International Group were worth $6,214,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC grew its stake in shares of American International Group by 199.2% during the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 239 shares during the period. Y.D. More Investments Ltd acquired a new stake in shares of American International Group during the second quarter worth $27,000. Rise Advisors LLC acquired a new stake in shares of American International Group during the first quarter worth $29,000. Valued Wealth Advisors LLC grew its stake in shares of American International Group by 303.3% during the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 276 shares during the period. Finally, Versant Capital Management Inc grew its stake in shares of American International Group by 326.0% during the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 339 shares during the period. 90.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder International Group American sold 8,032,129 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total value of $200,000,012.10. Following the completion of the transaction, the insider now directly owns 284,238,898 shares of the company’s stock, valued at $7,077,548,560.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 14,964,738 shares of company stock worth $400,732,195 over the last ninety days. Insiders own 0.61% of the company’s stock.

American International Group Price Performance

NYSE AIG opened at $73.76 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 12-month low of $57.72 and a 12-month high of $80.83. The company has a market capitalization of $48.95 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 3.60 and a beta of 1.06. The firm’s 50 day moving average is $74.55 and its 200-day moving average is $75.67.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The business had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter last year, the business earned $1.75 earnings per share. American International Group’s revenue for the quarter was up .0% on a year-over-year basis. Equities research analysts anticipate that American International Group, Inc. will post 5.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.40 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.17%. American International Group’s dividend payout ratio (DPR) is presently 23.88%.

Analysts Set New Price Targets

AIG has been the subject of a number of analyst reports. Piper Sandler decreased their price objective on American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Citigroup decreased their price objective on American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their price objective on American International Group from $80.00 to $93.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Bank of America boosted their target price on American International Group from $81.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley lowered their price target on American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $83.88.

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.