Sumitomo Mitsui Trust Group Inc. Decreases Position in American International Group, Inc. (NYSE:AIG)

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of American International Group, Inc. (NYSE:AIG) by 2.1% during the third quarter, HoldingsChannel reports. The firm owned 1,469,098 shares of the insurance provider’s stock after selling 31,985 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in American International Group were worth $107,582,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Christopher J. Hasenberg Inc bought a new position in American International Group in the third quarter worth approximately $26,000. Y.D. More Investments Ltd purchased a new stake in American International Group during the second quarter worth $27,000. Fortitude Family Office LLC lifted its holdings in American International Group by 199.2% during the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after buying an additional 239 shares during the period. Versant Capital Management Inc lifted its holdings in American International Group by 326.0% during the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after buying an additional 339 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of American International Group during the 3rd quarter valued at $46,000. Institutional investors own 90.60% of the company’s stock.

American International Group Trading Up 1.6 %

AIG opened at $76.09 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65. The company’s 50 day simple moving average is $75.10 and its two-hundred day simple moving average is $75.68. American International Group, Inc. has a 1-year low of $63.39 and a 1-year high of $80.83. The firm has a market capitalization of $47.46 billion, a price-to-earnings ratio of -22.45, a price-to-earnings-growth ratio of 7.41 and a beta of 1.05.

American International Group (NYSE:AIG) last released its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.10 by $0.13. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. The firm had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same quarter in the previous year, the company earned $1.61 EPS. Analysts expect that American International Group, Inc. will post 5.13 EPS for the current fiscal year.

American International Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.60 annualized dividend and a yield of 2.10%. American International Group’s dividend payout ratio (DPR) is presently -47.20%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AIG shares. JPMorgan Chase & Co. upgraded American International Group from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $93.00 to $89.00 in a research note on Thursday, October 10th. Barclays assumed coverage on American International Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price target on the stock. Wells Fargo & Company cut their price target on American International Group from $77.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. Piper Sandler cut 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. Finally, UBS Group raised their target price on American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.13.

Insiders Place Their Bets

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the business’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 completion of the transaction, the insider now owns 279,238,898 shares in the company, valued at $8,058,834,596.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.61% of the company’s stock.

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.