APG Asset Management N.V. Sells 8,700 Shares of American International Group, Inc. $AIG

Key Points

• APG Asset Management N.V. reduced its stake in American International Group, Inc. by 2.5%, now holding 342,700 shares valued at approximately $27.58 million.
• American International Group recently announced a quarterly dividend of $0.45 per share with a dividend yield of 2.2%, payable on September 30th.
• Wall Street analysts generally view AIG positively, with an average rating of "Moderate Buy" and a consensus target price of $88.27 per share.

APG Asset Management N.V. lowered its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 342,700 shares of the insurance provider's stock after selling 8,700 shares during the period. APG Asset Management N.V. owned approximately 0.06% of American International Group worth $27,582,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Sachetta LLC lifted its position in American International Group by 194.5% in the first quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 249 shares during the last quarter. Ameriflex Group Inc. purchased a new position in shares of American International Group in the fourth quarter worth $29,000. Hemington Wealth Management raised its holdings in American International Group by 42.8% during the 1st quarter. Hemington Wealth Management now owns 474 shares of the insurance provider's stock valued at $41,000 after buying an additional 142 shares during the last quarter. NBC Securities Inc. purchased a new stake in American International Group during the 1st quarter valued at $47,000. Finally, SouthState Corp grew its holdings in American International Group by 798.5% in the 1st quarter. SouthState Corp now owns 584 shares of the insurance provider's stock worth $51,000 after acquiring an additional 519 shares during the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Stock Down 0.3%

American International Group stock traded down $0.22 on Tuesday, hitting $82.57. 4,164,166 shares of the stock traded hands, compared to its average volume of 3,900,797. American International Group, Inc. has a 1 year low of $69.24 and a 1 year high of $88.07. The firm has a market cap of $45.74 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 0.89 and a beta of 0.63. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. The business's fifty day simple moving average is $81.43 and its 200 day simple moving average is $81.76.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.21. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The company had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.81 billion. During the same period last year, the company posted $1.16 EPS. As a group, sell-side analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 16th. American International Group's payout ratio is currently 34.09%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AIG shares. Keefe, Bruyette & Woods lowered their price objective on shares of American International Group from $97.00 to $91.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. William Blair raised American International Group to a "strong-buy" rating in a research report on Friday, August 1st. Wells Fargo & Company increased their price objective on American International Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Wall Street Zen cut American International Group from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Cfra Research upgraded American International Group to a "moderate buy" rating in a report on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, American International Group currently has a consensus rating of "Moderate Buy" and an average price target of $88.27.

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.