American International Group, Inc. $AIG Stock: SteelPeak Wealth LLC Reduces Holdings

SteelPeak Wealth LLC reduced its position in American International Group, Inc. (NYSE:AIG) by 25.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,792 shares of the insurance provider’s stock after selling 15,821 shares during the quarter. SteelPeak Wealth LLC’s holdings in American International Group were worth $3,482,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Lee Danner & Bass Inc. lifted its holdings in American International Group by 194.2% in the first quarter. Lee Danner & Bass Inc. now owns 33,781 shares of the insurance provider’s stock valued at $2,542,000 after buying an additional 22,300 shares during the period. Swiss National Bank boosted its position in American International Group by 4.3% during the first quarter. Swiss National Bank now owns 1,583,564 shares of the insurance provider’s stock valued at $119,163,000 after acquiring an additional 65,400 shares during the last quarter. KBC Group NV grew its holdings in American International Group by 5.8% during the 1st quarter. KBC Group NV now owns 343,754 shares of the insurance provider’s stock worth $25,868,000 after acquiring an additional 18,812 shares during the period. Freestone Grove Partners LP grew its holdings in American International Group by 51.5% during the 2nd quarter. Freestone Grove Partners LP now owns 1,925,980 shares of the insurance provider’s stock worth $143,543,000 after acquiring an additional 655,065 shares during the period. Finally, Algebris UK Ltd. raised its position in shares of American International Group by 98.4% in the 2nd quarter. Algebris UK Ltd. now owns 1,235,231 shares of the insurance provider’s stock worth $91,772,000 after acquiring an additional 612,790 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Price Performance

Shares of NYSE AIG opened at $80.60 on Friday. The firm has a market capitalization of $42.14 billion, a P/E ratio of 14.73, a P/E/G ratio of 0.85 and a beta of 0.52. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. The stock’s 50-day simple moving average is $76.09 and its two-hundred day simple moving average is $76.60. American International Group, Inc. has a twelve month low of $71.25 and a twelve month high of $87.29.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Friday, August 7th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. The firm had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.25 billion. American International Group had a return on equity of 11.05% and a net margin of 11.13%. During the same quarter last year, the company posted $1.81 EPS. As a group, equities analysts anticipate that American International Group, Inc. will post 8.07 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Wednesday, September 16th. American International Group’s dividend payout ratio is 36.56%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AIG shares. JPMorgan Chase & Co. upped their target price on American International Group from $86.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Royal Bank Of Canada raised their target price on American International Group from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research note on Monday, August 10th. Piper Sandler lifted their target price on American International Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Weiss Ratings reissued a “buy (b-)” rating on shares of American International Group in a research note on Tuesday, September 29th. Finally, Wells Fargo & Company dropped their price target on American International Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Monday, October 12th. Eight investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, American International Group currently has an average rating of “Hold” and an average target price of $87.68.

Insiders Place Their Bets

In related news, insider Peter Zaffino sold 36,829 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $76.14, for a total value of $2,804,160.06. Following the sale, the insider directly owned 556,004 shares of the company’s stock, valued at $42,334,144.56. This trade represents a 6.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by corporate insiders.

American International Group Profile

American International Group, Inc (NYSE:AIG) is a global insurance organization whose principal operating business is general insurance. Through its property and casualty operations, AIG provides commercial and personal insurance products, including coverage for businesses, multinational companies, individuals, and specialty risks. Its offerings include property, casualty, liability, marine, aviation, cyber, accident, and travel insurance, along with other risk-management solutions.

AIG serves customers through a network spanning approximately 190 countries and jurisdictions.