Mutual of America Capital Management LLC Lowers Stake in American International Group, Inc. (NYSE:AIG)

Mutual of America Capital Management LLC lessened its stake in American International Group, Inc. (NYSE:AIG) by 5.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 79,299 shares of the insurance provider’s stock after selling 4,396 shares during the period. Mutual of America Capital Management LLC’s holdings in American International Group were worth $5,807,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cetera Investment Advisers grew its stake in shares of 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. OFI Invest Asset Management grew its position in American International Group by 2,208.3% in the 2nd quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock valued at $710,000 after acquiring an additional 9,805 shares in the last quarter. Bessemer Group Inc. increased its stake in American International Group by 64.3% during the first quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider’s stock worth $2,227,000 after purchasing an additional 11,149 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of American International Group by 8.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 142,369 shares of the insurance provider’s stock worth $11,081,000 after purchasing an additional 10,581 shares in the last quarter. Finally, Ceeto Capital Group LLC purchased a new position in shares of American International Group in the first quarter valued at approximately $625,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Evercore ISI reduced their target price on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday, October 9th. StockNews.com upgraded American International Group from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. BMO Capital Markets lowered American International Group from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $90.00 to $84.00 in a research report on Tuesday, October 15th. 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. Finally, Bank of America upped their target price on shares of American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, American International Group currently has an average rating of “Moderate Buy” and a consensus target price of $84.13.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the transaction, the insider now directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.61% of the company’s stock.

American International Group Price Performance

AIG stock opened at $75.28 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $46.96 billion, a P/E ratio of -22.21, a PEG ratio of 7.50 and a beta of 1.05. The business has a 50 day simple moving average of $75.33 and a 200-day simple moving average of $75.65. American International Group, Inc. has a twelve month low of $63.79 and a twelve month 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, topping the consensus estimate of $1.10 by $0.13. The business had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. During the same quarter in the prior year, the firm earned $1.61 earnings per share. As a group, equities analysts anticipate that American International Group, Inc. will post 5.13 EPS for the current year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s dividend payout ratio (DPR) is presently -47.20%.

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.