Nepsis Inc. Cuts Stake in American International Group, Inc. $AIG

Nepsis Inc. cut its stake in shares of American International Group, Inc. (NYSE:AIG) by 12.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 144,351 shares of the insurance provider’s stock after selling 19,601 shares during the quarter. American International Group comprises approximately 3.6% of Nepsis Inc.’s portfolio, making the stock its 16th biggest position. Nepsis Inc.’s holdings in American International Group were worth $11,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. increased its stake in American International Group by 6.1% during the 2nd quarter. Franklin Resources Inc. now owns 12,536,144 shares of the insurance provider’s stock valued at $1,072,969,000 after purchasing an additional 716,209 shares in the last quarter. Norges Bank purchased a new stake in shares of American International Group during the second quarter valued at approximately $787,724,000. Raymond James Financial Inc. increased its position in shares of American International Group by 4.4% during the second quarter. Raymond James Financial Inc. now owns 3,429,324 shares of the insurance provider’s stock valued at $293,516,000 after acquiring an additional 143,361 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of American International Group by 21.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,341,348 shares of the insurance provider’s stock valued at $285,986,000 after acquiring an additional 600,629 shares in the last quarter. Finally, Viking Global Investors LP purchased a new position in American International Group in the 2nd quarter worth approximately $155,413,000. Institutional investors own 90.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on AIG. Morgan Stanley reduced their target price on American International Group from $85.00 to $84.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. Piper Sandler increased their price objective on American International Group from $88.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. Wolfe Research assumed coverage on American International Group in a research report on Tuesday, September 16th. They issued a “peer perform” rating for the company. Royal Bank Of Canada started coverage on shares of American International Group in a research note on Tuesday, November 25th. They set a “sector perform” rating and a $85.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their price target on shares of American International Group from $95.00 to $97.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $89.17.

American International Group Trading Down 3.1%

American International Group stock opened at $75.50 on Friday. American International Group, Inc. has a 52-week low of $69.24 and a 52-week high of $88.07. The company has a market cap of $40.74 billion, a P/E ratio of 13.73, a P/E/G ratio of 0.75 and a beta of 0.62. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.22. The business has a 50-day simple moving average of $80.09 and a two-hundred day simple moving average of $80.20.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.63. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.82 billion. American International Group had a net margin of 11.89% and a return on equity of 9.09%. During the same quarter last year, the firm posted $1.23 earnings per share. Analysts predict that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 16th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.4%. American International Group’s payout ratio is presently 32.73%.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.