Federated Hermes Inc. Sells 3,286 Shares of American International Group, Inc. (NYSE:AIG)

Federated Hermes Inc. trimmed its position in American International Group, Inc. (NYSE:AIG) by 2.2% during the second quarter, HoldingsChannel.com reports. The fund owned 146,901 shares of the insurance provider’s stock after selling 3,286 shares during the quarter. Federated Hermes Inc.’s holdings in American International Group were worth $10,906,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. TCW Group Inc. bought a new position in American International Group in the fourth quarter valued at approximately $724,000. Dynamic Technology Lab Private Ltd acquired a new stake in American International Group in the fourth quarter valued at approximately $948,000. Cetera Investment Advisers boosted its position in American International Group by 348.6% in the first quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock valued at $4,506,000 after buying an additional 44,797 shares in the last quarter. Vinva Investment Management Ltd acquired a new stake in American International Group in the fourth quarter valued at approximately $1,699,000. Finally, OFI Invest Asset Management boosted its position in American International Group by 2,208.3% in the second quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock valued at $710,000 after buying an additional 9,805 shares in the last quarter. 90.60% of the stock is owned by institutional investors.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 8,032,129 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the transaction, the insider now directly owns 284,238,898 shares in the company, valued at $7,077,548,560.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AIG has been the topic of a number of research analyst reports. StockNews.com lowered shares of American International Group from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. Barclays started coverage on shares of American International Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $87.00 price target on shares of American International Group in a report on Tuesday, July 9th. Keefe, Bruyette & Woods cut their price target on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Finally, Morgan Stanley cut their price target on shares of American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. One equities 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $83.88.

American International Group Trading Up 0.4 %

AIG opened at $73.00 on Tuesday. American International Group, Inc. has a 1-year low of $57.72 and a 1-year high of $80.83. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. The company has a market cap of $48.45 billion, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 3.60 and a beta of 1.06. The company has a fifty day moving average price of $74.77 and a two-hundred day moving average price of $75.69.

American International Group (NYSE:AIG) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 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 the consensus estimate of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The company’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.75 earnings per share. Analysts predict that American International Group, Inc. will post 5.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.40 per share. 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 presently 23.88%.

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.