American International Group, Inc. (NYSE:AIG) Shares Sold by Sitrin Capital Management LLC

Sitrin Capital Management LLC decreased its position in American International Group, Inc. (NYSE:AIG) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,063 shares of the insurance provider’s stock after selling 820 shares during the quarter. American International Group accounts for approximately 3.3% of Sitrin Capital Management LLC’s holdings, making the stock its 11th largest position. Sitrin Capital Management LLC’s holdings in American International Group were worth $6,669,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AIG. United Asset Strategies Inc. boosted its holdings in shares of American International Group by 2.3% in the 3rd quarter. United Asset Strategies Inc. now owns 131,390 shares of the insurance provider’s stock valued at $9,622,000 after buying an additional 2,997 shares during the period. AustralianSuper Pty Ltd lifted its holdings in American International Group by 41.5% in the third quarter. AustralianSuper Pty Ltd now owns 1,028,532 shares of the insurance provider’s stock worth $75,319,000 after acquiring an additional 301,637 shares during the last quarter. US Bancorp DE boosted its stake in American International Group by 0.5% in the third quarter. US Bancorp DE now owns 186,142 shares of the insurance provider’s stock valued at $13,631,000 after acquiring an additional 886 shares during the period. SteelPeak Wealth LLC grew its holdings in shares of American International Group by 1.6% during the third quarter. SteelPeak Wealth LLC now owns 41,662 shares of the insurance provider’s stock valued at $3,051,000 after purchasing an additional 667 shares during the last quarter. Finally, First Trust Direct Indexing L.P. raised its position in shares of American International Group by 7.1% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 24,419 shares of the insurance provider’s stock worth $1,788,000 after purchasing an additional 1,621 shares during the period. 90.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. TD Cowen reduced their price objective on American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Jefferies Financial Group boosted their price target on shares of American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised shares of American International Group from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $93.00 to $89.00 in a report on Thursday, October 10th. Barclays initiated coverage on shares of American International Group in a research note on Wednesday, September 4th. They set an “overweight” rating and a $90.00 target price for the company. Finally, Piper Sandler decreased their target price on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $84.38.

American International Group Trading Up 0.8 %

Shares of AIG traded up $0.62 during midday trading on Friday, hitting $76.50. The stock had a trading volume of 592,446 shares, compared to its average volume of 4,063,885. The business has a 50-day simple moving average of $75.08 and a two-hundred day simple moving average of $75.56. 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, Inc. has a fifty-two week low of $62.52 and a fifty-two week high of $80.83. The firm has a market cap of $49.26 billion, a P/E ratio of -58.82, a price-to-earnings-growth ratio of 5.29 and a beta of 1.06.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share 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 firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.64 billion. The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the company earned $1.75 earnings per share. As a group, equities analysts forecast that American International Group, Inc. will post 4.99 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the transaction, the insider now directly owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.61% of the company’s stock.

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.