Amalgamated Bank Reduces Stock Position in American International Group, Inc. (NYSE:AIG)

Amalgamated Bank decreased its position in American International Group, Inc. (NYSE:AIG) by 7.6% during the second quarter, Holdings Channel.com reports. The fund owned 134,654 shares of the insurance provider’s stock after selling 11,126 shares during the quarter. Amalgamated Bank’s holdings in American International Group were worth $9,997,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Avantax Advisory Services Inc. increased its holdings in American International Group by 23.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,941 shares of the insurance provider’s stock valued at $403,000 after purchasing an additional 1,122 shares during the period. Independent Advisor Alliance grew its position in shares of American International Group by 11.2% in the 4th quarter. Independent Advisor Alliance now owns 6,806 shares of the insurance provider’s stock worth $461,000 after buying an additional 686 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of American International Group during the fourth quarter valued at approximately $948,000. Coldstream Capital Management Inc. raised its holdings in shares of American International Group by 20.1% during the fourth quarter. Coldstream Capital Management Inc. now owns 9,675 shares of the insurance provider’s stock valued at $655,000 after acquiring an additional 1,617 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in American International Group in the fourth quarter worth $923,000. 90.60% of the stock is owned by institutional investors.

Insider Activity 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 that occurred 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 in the company, valued at approximately $7,077,548,560.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 14,964,738 shares of company stock valued at $400,732,195 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.

American International Group Trading Down 0.4 %

American International Group stock opened at $73.27 on Thursday. 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 $48.63 billion, a price-to-earnings ratio of 10.94, a price-to-earnings-growth ratio of 3.60 and a beta of 1.06. The business’s fifty day simple moving average is $74.68 and its two-hundred day simple moving average is $75.68. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last announced its quarterly earnings results 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 positive return on equity of 9.52% and a negative net margin of 1.54%. The firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the previous year, the firm earned $1.75 EPS. The business’s revenue for the quarter was up .0% on a year-over-year basis. As a group, equities analysts predict that American International Group, Inc. will post 5.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Monday, September 16th. American International Group’s payout ratio is 23.88%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AIG. StockNews.com downgraded shares of American International Group from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $87.00 price target on shares of American International Group in a research report on Tuesday, July 9th. Evercore ISI decreased their price target on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, June 27th. Citigroup cut their price objective on American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, July 23rd. Finally, Barclays initiated coverage on American International Group in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, American International Group presently has a consensus rating of “Hold” and a consensus target price of $83.88.

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.