Pathstone Holdings LLC Cuts Stock Holdings in American International Group, Inc. (NYSE:AIG)

Pathstone Holdings LLC cut its stake in shares of American International Group, Inc. (NYSE:AIG) by 1.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 89,466 shares of the insurance provider’s stock after selling 1,172 shares during the quarter. Pathstone Holdings LLC’s holdings in American International Group were worth $6,552,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AIG. Swedbank AB acquired a new position in American International Group in the first quarter valued at $99,951,000. Diamond Hill Capital Management Inc. lifted its stake in shares of American International Group by 5.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock valued at $1,002,163,000 after purchasing an additional 722,237 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of American International Group by 83.6% in the 2nd quarter. Bank of Montreal Can now owns 1,312,741 shares of the insurance provider’s stock valued at $97,825,000 after purchasing an additional 597,765 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of American International Group by 2,493.5% during the 2nd quarter. Marshall Wace LLP now owns 349,341 shares of the insurance provider’s stock worth $25,935,000 after purchasing an additional 335,871 shares during the period. Finally, AustralianSuper Pty Ltd increased its position in American International Group by 41.5% during the 3rd quarter. AustralianSuper Pty Ltd now owns 1,028,532 shares of the insurance provider’s stock worth $75,319,000 after purchasing an additional 301,637 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Stock Performance

AIG stock opened at $76.06 on Friday. The stock’s fifty day moving average is $75.50 and its two-hundred day moving average is $75.62. The stock has a market capitalization of $47.44 billion, a price-to-earnings ratio of -22.44, a PEG ratio of 7.45 and a beta of 1.05. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. American International Group, Inc. has a 1 year low of $64.54 and a 1 year high of $80.83.

American International Group (NYSE:AIG) last announced its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.13. The firm had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same quarter in the previous year, the business earned $1.61 EPS. On average, research analysts predict that American International Group, Inc. will post 5.13 EPS for the current year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be given a $0.40 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.10%. American International Group’s dividend payout ratio (DPR) is -47.20%.

Insider Activity

In other news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the sale, the insider now directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This trade represents a 1.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

AIG has been the subject of several recent research reports. Evercore ISI dropped their price objective on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating for the company in a research report on Wednesday, October 9th. StockNews.com upgraded American International Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. JPMorgan Chase & Co. upgraded American International Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $93.00 to $89.00 in a research note on Thursday, October 10th. TD Cowen lowered their target price on American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. Finally, Piper Sandler decreased their price target on American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.80.

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.