Sei Investments Co. Has $54.20 Million Position in American International Group, Inc. (NYSE:AIG)

Sei Investments Co. reduced its stake in shares of American International Group, Inc. (NYSE:AIG) by 9.5% in the second quarter, HoldingsChannel.com reports. The firm owned 730,031 shares of the insurance provider’s stock after selling 76,922 shares during the period. Sei Investments Co.’s holdings in American International Group were worth $54,198,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of AIG. TCW Group Inc. bought a new stake in shares of American International Group during the 4th quarter worth $724,000. Cetera Investment Advisers lifted its stake in American International Group by 348.6% during the first quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock worth $4,506,000 after purchasing an additional 44,797 shares during the last quarter. Vinva Investment Management Ltd purchased a new stake in American International Group in the fourth quarter worth approximately $1,699,000. OFI Invest Asset Management grew its holdings in shares of American International Group by 2,208.3% during the 2nd quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock valued at $710,000 after purchasing an additional 9,805 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of American International Group by 64.3% during the first quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider’s stock valued at $2,227,000 after buying an additional 11,149 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Trading Down 0.2 %

Shares of AIG stock opened at $73.76 on Monday. American International Group, Inc. has a fifty-two week low of $57.72 and a fifty-two week high of $80.83. The firm has a market capitalization of $48.95 billion, a P/E ratio of 11.01, a PEG ratio of 3.60 and a beta of 1.06. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67. The stock’s fifty day moving average is $74.55 and its two-hundred day moving average is $75.69.

American International Group (NYSE:AIG) last posted its quarterly 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). American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The company had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the prior year, the firm earned $1.75 EPS. The firm’s revenue was up .0% on a year-over-year basis. 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 announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.17%. American International Group’s payout ratio is currently 23.88%.

Analyst Upgrades and Downgrades

AIG has been the topic of a number of analyst reports. Morgan Stanley lowered their price objective on shares of American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. JPMorgan Chase & Co. raised their price objective on American International Group from $80.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Piper Sandler dropped their price target on American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Company reduced their price objective on shares of American International Group from $79.00 to $77.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Finally, TD Cowen reduced their target price on American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, American International Group currently has a consensus rating of “Hold” and a consensus target price of $83.88.

Insiders Place Their Bets

In related news, major shareholder International Group American sold 8,032,129 shares of American International Group 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 sale, the insider now owns 284,238,898 shares in the company, valued at approximately $7,077,548,560.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 14,964,738 shares of company stock valued at $400,732,195 over the last 90 days. 0.61% of the stock is owned by company insiders.

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.