American International Group, Inc. $AIG Holdings Cut by Varma Mutual Pension Insurance Co

Key Points

• Varma Mutual Pension Insurance Co. cut its AIG stake by 89.2% in the second quarter, selling 126,030 shares and retaining 15,300 shares valued at $1.14 million. Institutional investors and hedge funds collectively own 90.6% of AIG.
• AIG reported quarterly EPS of $2.00, beating the $1.92 consensus estimate, although revenue of $7.08 billion fell short of expectations. The company also declared a $0.50 quarterly dividend, equivalent to a 2.6% annualized yield.
• AIG shares opened at $76.30, while analysts maintain a consensus “Hold” rating with an average price target of $88.28; CEO Peter Zaffino separately sold 200,000 shares under a pre-arranged Rule 10b5-1 plan.

Varma Mutual Pension Insurance Co lowered its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 89.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,300 shares of the insurance provider's stock after selling 126,030 shares during the period. Varma Mutual Pension Insurance Co's holdings in American International Group were worth $1,140,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. EP Wealth Advisors LLC grew its stake in American International Group by 31.3% in the second quarter. EP Wealth Advisors LLC now owns 12,613 shares of the insurance provider's stock valued at $940,000 after purchasing an additional 3,010 shares in the last quarter. Ieq Capital LLC raised its stake in shares of American International Group by 29.6% during the 2nd quarter. Ieq Capital LLC now owns 65,907 shares of the insurance provider's stock worth $4,912,000 after purchasing an additional 15,040 shares in the last quarter. Callan Family Office LLC raised its stake in shares of American International Group by 2.0% during the 2nd quarter. Callan Family Office LLC now owns 26,313 shares of the insurance provider's stock worth $1,961,000 after purchasing an additional 512 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of American International Group by 27.6% during the 2nd quarter. Allworth Financial LP now owns 14,275 shares of the insurance provider's stock valued at $1,064,000 after buying an additional 3,085 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG grew its stake in shares of American International Group by 84.7% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 34,506 shares of the insurance provider's stock valued at $2,572,000 after buying an additional 15,825 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other American International Group news, insider Peter Zaffino sold 200,000 shares of the company's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total transaction of $15,294,000.00. Following the completion of the sale, the insider directly owned 592,833 shares in the company, valued at $45,333,939.51. This represents a 25.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by corporate insiders.

American International Group Trading Up 0.2%

NYSE:AIG opened at $76.30 on Monday. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $87.29. The firm has a market cap of $39.90 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 0.69 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 company's 50 day moving average is $77.69 and its 200-day moving average is $76.98.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.08. American International Group had a net margin of 11.13% and a return on equity of 11.05%. The business had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.25 billion. During the same period in the prior year, the firm earned $1.81 EPS. Equities analysts anticipate that American International Group, Inc. will post 8.02 EPS for the current year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. American International Group's payout ratio is currently 36.56%.

Analyst Ratings Changes

AIG has been the topic of several recent research reports. Piper Sandler raised their price objective on shares of American International Group from $80.00 to $84.00 and gave the company a "neutral" rating in a research report on Monday, August 10th. Barclays boosted their target price on shares of American International Group from $80.00 to $81.00 and gave the stock an "equal weight" rating in a research report on Friday, August 7th. HSBC cut their price target on shares of American International Group from $94.00 to $88.00 and set a "buy" rating on the stock in a report on Monday, July 6th. Morgan Stanley decreased their price objective on shares of American International Group from $82.00 to $81.00 and set an "equal weight" rating for the company in a report on Wednesday, August 12th. Finally, Wells Fargo & Company cut their target price on American International Group from $89.00 to $85.00 and set an "equal weight" rating on the stock in a report on Monday, August 10th. Seven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $88.28.

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.

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