American International Group, Inc. $AIG Shares Sold by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners cut its AIG position by 94.7% in the third quarter, selling 210,441 shares and retaining 11,765 shares valued at approximately $876,000. Institutional investors collectively own 90.6% of AIG.
• AIG shares were trading at $79.13, up 2.2%, while the insurer reported quarterly EPS of $2.00, exceeding analyst expectations of $1.92. Analysts hold a consensus “Hold” rating with an average price target of $87.68.
• AIG declared a quarterly dividend of $0.50 per share, equivalent to a $2.00 annualized payout and a 2.5% yield.

Curated Wealth Partners LLC lowered its position in American International Group, Inc. (NYSE:AIG - Free Report) by 94.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,765 shares of the insurance provider's stock after selling 210,441 shares during the period. Curated Wealth Partners LLC's holdings in American International Group were worth $876,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. L2 Asset Management LLC lifted its holdings in American International Group by 4.8% during the second quarter. L2 Asset Management LLC now owns 3,046 shares of the insurance provider's stock worth $227,000 after acquiring an additional 139 shares in the last quarter. Kestra Private Wealth Services LLC grew its stake in American International Group by 1.3% in the first quarter. Kestra Private Wealth Services LLC now owns 11,048 shares of the insurance provider's stock valued at $831,000 after acquiring an additional 146 shares during the period. CENTRAL TRUST Co grew its stake in American International Group by 48.7% in the first quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider's stock valued at $35,000 after acquiring an additional 151 shares during the period. Parkside Financial Bank & Trust grew its stake in American International Group by 7.3% in the second quarter. Parkside Financial Bank & Trust now owns 2,333 shares of the insurance provider's stock valued at $174,000 after acquiring an additional 158 shares during the period. Finally, Mayfair Advisory Group LLC increased its holdings in shares of American International Group by 6.3% in the first quarter. Mayfair Advisory Group LLC now owns 2,925 shares of the insurance provider's stock worth $220,000 after acquiring an additional 174 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company's stock.

American International Group Trading Up 2.2%

Shares of NYSE:AIG opened at $79.13 on Friday. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $87.29. 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 fifty day simple moving average is $76.05 and its 200 day simple moving average is $76.57. The firm has a market cap of $41.38 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 0.81 and a beta of 0.52.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The insurance provider reported $2.00 EPS for the quarter, beating the consensus estimate of $1.92 by $0.08. The business had revenue of $7.08 billion for the quarter, compared to analysts' expectations of $7.25 billion. American International Group had a net margin of 11.13% and a return on equity of 11.05%. During the same period in the previous year, the firm posted $1.81 EPS. As a group, research analysts forecast that American International Group, Inc. will post 8.07 EPS for the current fiscal year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.5%. American International Group's dividend payout ratio (DPR) is currently 36.56%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. 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 report on Monday. Barclays lifted their price objective on American International Group from $80.00 to $81.00 and gave the company an "equal weight" rating in a report on Friday, August 7th. HSBC decreased their price objective on American International Group from $94.00 to $88.00 and set a "buy" rating for the company in a research report on Monday, July 6th. Royal Bank Of Canada increased 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. Finally, Keefe, Bruyette & Woods lowered their target price on American International Group from $96.00 to $90.00 and set an "outperform" rating for the company in a research note on Monday. Eight investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $87.68.

Insider Activity

In other American International Group news, insider Peter Zaffino sold 36,829 shares of American International Group stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $76.14, for a total value of $2,804,160.06. Following the sale, the insider owned 556,004 shares of the company's stock, valued at $42,334,144.56. This trade represents a 6.21% decrease in their position. The transaction 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 Company 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.

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