American International Group, Inc. (NYSE:AIG) Shares Sold by Raymond James & Associates

Raymond James & Associates cut its stake in shares of American International Group, Inc. (NYSE:AIG) by 0.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,237,846 shares of the insurance provider’s stock after selling 7,123 shares during the period. Raymond James & Associates owned approximately 0.19% of American International Group worth $91,898,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Fortitude Family Office LLC raised its position in American International Group by 199.2% in the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 239 shares during the period. Rise Advisors LLC purchased a new stake in shares of American International Group in the 1st quarter valued at $29,000. Valued Wealth Advisors LLC lifted its stake in American International Group by 303.3% during the 1st quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 276 shares in the last quarter. Versant Capital Management Inc boosted its holdings in American International Group by 326.0% during the 2nd quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 339 shares during the period. Finally, CENTRAL TRUST Co grew its position in American International Group by 123.8% in the 1st quarter. CENTRAL TRUST Co now owns 452 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 250 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Stock Up 0.2 %

AIG traded up $0.14 on Friday, reaching $73.56. The company’s stock had a trading volume of 6,155,360 shares, compared to its average volume of 4,227,348. The company has a market capitalization of $48.82 billion, a price-to-earnings ratio of 10.98, a P/E/G ratio of 2.48 and a beta of 1.07. American International Group, Inc. has a fifty-two week low of $57.02 and a fifty-two week high of $80.83. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average of $74.87 and a two-hundred day moving average of $75.00.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.14). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.37%. The company had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter in the previous year, the company posted $1.75 EPS. The company’s quarterly revenue was up .0% on a year-over-year basis. As a group, analysts forecast that American International Group, Inc. will post 6.4 EPS for the current fiscal year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Monday, September 16th. American International Group’s dividend payout ratio (DPR) is currently 23.88%.

American International Group declared that its Board of Directors has initiated a stock buyback program on Wednesday, May 1st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 19.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AIG. Piper Sandler lowered their price objective on shares of 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. Evercore ISI decreased their price target on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, June 27th. JPMorgan Chase & Co. upped their price objective on American International Group from $80.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Citigroup decreased their target price on American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, July 23rd. Finally, Bank of America upped their price target on American International Group from $81.00 to $82.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $83.47.

Insider Activity

In other American International Group 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 stock was sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the transaction, the insider now owns 284,238,898 shares of the company’s stock, valued at $7,077,548,560.20. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders sold 39,964,738 shares of company stock valued at $1,132,432,195. 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.