American International Group, Inc. $AIG Shares Sold by Avantra Family Wealth Inc.

Key Points

• Avantra Family Wealth Inc. reduced its holdings in American International Group, Inc. (AIG) by 25.4%, selling 3,323 shares in the second quarter to end with a total of 9,748 shares valued at approximately $834,000.
• The company reported $1.81 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $1.60, and had revenues of $6.77 billion, slightly below forecasts.
• AIG announced a quarterly dividend of $0.45 per share, representing an annualized dividend of $1.80, with a current dividend yield of 2.2%.

Avantra Family Wealth Inc. lowered its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 25.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,748 shares of the insurance provider's stock after selling 3,323 shares during the period. Avantra Family Wealth Inc.'s holdings in American International Group were worth $834,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Mraz Amerine & Associates Inc. acquired a new position in shares of American International Group in the second quarter valued at approximately $789,000. Sendero Wealth Management LLC grew its holdings in shares of American International Group by 0.4% in the second quarter. Sendero Wealth Management LLC now owns 38,752 shares of the insurance provider's stock valued at $3,317,000 after purchasing an additional 163 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of American International Group by 3.5% in the second quarter. Valeo Financial Advisors LLC now owns 12,740 shares of the insurance provider's stock valued at $1,090,000 after purchasing an additional 435 shares in the last quarter. Knights of Columbus Asset Advisors LLC grew its holdings in shares of American International Group by 11.0% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 127,081 shares of the insurance provider's stock valued at $10,877,000 after purchasing an additional 12,592 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its holdings in shares of American International Group by 8.1% in the second quarter. DAVENPORT & Co LLC now owns 8,714 shares of the insurance provider's stock valued at $746,000 after purchasing an additional 654 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company's stock.

American International Group Trading Up 2.4%

Shares of American International Group stock opened at $83.00 on Tuesday. The company has a fifty day simple moving average of $79.37 and a 200-day simple moving average of $81.67. American International Group, Inc. has a 12-month low of $69.24 and a 12-month high of $88.07. 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 stock has a market cap of $45.98 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 0.87 and a beta of 0.68.

American International Group (NYSE:AIG - Get Free Report) last issued its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.81 billion. During the same quarter in the prior year, the business posted $1.16 EPS. On average, equities analysts forecast that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a $0.45 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. American International Group's dividend payout ratio is presently 34.09%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AIG. Piper Sandler dropped their price objective on shares of American International Group from $96.00 to $88.00 and set an "overweight" rating for the company in a report on Thursday, October 2nd. The Goldman Sachs Group boosted their price target on shares of American International Group from $85.00 to $86.00 and gave the stock a "neutral" rating in a report on Monday. Weiss Ratings reiterated a "buy (b)" rating on shares of American International Group in a report on Saturday, September 27th. Cantor Fitzgerald upgraded shares of American International Group to a "hold" rating in a report on Tuesday, August 12th. Finally, Evercore ISI boosted their price target on shares of American International Group from $89.00 to $90.00 and gave the stock an "in-line" rating in a report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, American International Group has a consensus rating of "Moderate Buy" and an average target price of $88.25.

American International Group Company 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.

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