Russell Investments Group Ltd. Lowers Stake in American International Group, Inc. $AIG

Russell Investments Group Ltd. cut its stake in American International Group, Inc. (NYSE:AIG) by 2.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,338,790 shares of the insurance provider’s stock after selling 38,027 shares during the period. Russell Investments Group Ltd. owned about 0.25% of American International Group worth $104,920,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in AIG. Geneos Wealth Management Inc. boosted its position in American International Group by 2.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock valued at $434,000 after buying an additional 129 shares during the period. Westwood Holdings Group Inc. increased its position in shares of American International Group by 2.9% during the second quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock worth $396,000 after acquiring an additional 130 shares during the period. First Bank & Trust increased its position in shares of American International Group by 2.2% during the third quarter. First Bank & Trust now owns 6,053 shares of the insurance provider’s stock worth $475,000 after acquiring an additional 131 shares during the period. JFS Wealth Advisors LLC raised its stake in shares of American International Group by 17.7% during the third quarter. JFS Wealth Advisors LLC now owns 872 shares of the insurance provider’s stock valued at $68,000 after acquiring an additional 131 shares in the last quarter. Finally, Howard Capital Management Inc. raised its stake in shares of American International Group by 3.0% during the third quarter. Howard Capital Management Inc. now owns 4,717 shares of the insurance provider’s stock valued at $370,000 after acquiring an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

Shares of AIG stock opened at $77.62 on Tuesday. The firm has a market cap of $41.65 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 0.61 and a beta of 0.58. The company’s 50 day moving average is $77.36 and its 200 day moving average is $78.87. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 52-week low of $71.25 and a 52-week high of $88.07.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Tuesday, February 10th. The insurance provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.06. The company had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.99 billion. American International Group had a net margin of 11.56% and a return on equity of 9.79%. During the same quarter in the previous year, the firm posted $1.30 earnings per share. On average, sell-side analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, March 16th. American International Group’s payout ratio is presently 33.21%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of American International Group in a research note on Monday, December 29th. Piper Sandler decreased their target price on American International Group from $95.00 to $88.00 and set an “overweight” rating for the company in a research report on Thursday, February 12th. Cantor Fitzgerald upped their target price on American International Group from $77.00 to $81.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Royal Bank Of Canada initiated coverage on American International Group in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $85.00 price target on the stock. Finally, Jefferies Financial Group raised their price target on American International Group from $96.00 to $101.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, American International Group has an average rating of “Hold” and a consensus target price of $87.95.

American International Group 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.