Pitcairn Co. Reduces Stock Holdings in American International Group, Inc. (NYSE:AIG)

Pitcairn Co. lessened its stake in American International Group, Inc. (NYSE:AIG) by 25.6% in the third quarter, Holdings Channel reports. The fund owned 7,210 shares of the insurance provider’s stock after selling 2,486 shares during the quarter. Pitcairn Co.’s holdings in American International Group were worth $528,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Christopher J. Hasenberg Inc purchased a new stake in American International Group during the 3rd quarter worth $26,000. Fortitude Family Office LLC increased its position in shares of 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 acquiring an additional 239 shares during the last quarter. Y.D. More Investments Ltd acquired a new position in shares of American International Group in the second quarter worth about $27,000. Versant Capital Management Inc boosted its holdings in American International Group by 326.0% in the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 339 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in American International Group during the 3rd quarter valued at approximately $46,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

Insider Transactions at American International Group

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the business’s 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 sale, the insider now directly owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. The trade was a 1.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AIG shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $87.00 target price on shares of American International Group in a research report on Wednesday, November 6th. Barclays assumed coverage on shares of American International Group in a research note on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price objective on the stock. Piper Sandler dropped 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. UBS Group increased their price target on shares of American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, StockNews.com raised American International Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $84.80.

American International Group Stock Performance

Shares of AIG opened at $75.98 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. American International Group, Inc. has a 1 year low of $64.54 and a 1 year high of $80.83. The firm has a fifty day moving average of $75.56 and a 200-day moving average of $75.53. The company has a market cap of $47.39 billion, a price-to-earnings ratio of -22.41, a price-to-earnings-growth ratio of 7.54 and a beta of 1.05.

American International Group (NYSE:AIG) last posted its earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.10 by $0.13. The firm had revenue of $6.75 billion during the quarter, compared to analysts’ expectations 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 EPS. As a group, equities analysts anticipate that American International Group, Inc. will post 5.12 earnings per share for the current year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders 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 yield of 2.11%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s payout ratio is currently -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.