American International Group, Inc. $AIG Shares Sold by Ethic Inc.

Key Points

• Ethic Inc. reduced its holdings in American International Group, Inc. by 12.5%, selling 18,045 shares in the second quarter, leaving it with 126,868 shares valued at approximately $10.73 million.
• A number of analysts have recently updated their price targets for American International Group, with Bank of America raising its target from $88.00 to $94.00 and Piper Sandler reducing it from $96.00 to $88.00.
• The company declared a quarterly dividend of $0.45 per share, resulting in a dividend yield of 2.3%, and its current dividend payout ratio stands at 34.09%.

Ethic Inc. reduced its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 12.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 126,868 shares of the insurance provider's stock after selling 18,045 shares during the quarter. Ethic Inc.'s holdings in American International Group were worth $10,732,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Pinnacle Associates Ltd. raised its holdings in American International Group by 1.6% during the first quarter. Pinnacle Associates Ltd. now owns 7,706 shares of the insurance provider's stock worth $670,000 after purchasing an additional 122 shares in the last quarter. Aaron Wealth Advisors LLC raised its position in American International Group by 2.4% during the second quarter. Aaron Wealth Advisors LLC now owns 5,466 shares of the insurance provider's stock valued at $468,000 after buying an additional 126 shares during the period. Monument Capital Management lifted its stake in American International Group by 3.5% in the 2nd quarter. Monument Capital Management now owns 3,828 shares of the insurance provider's stock worth $328,000 after acquiring an additional 129 shares in the last quarter. Montag A & Associates Inc. grew its position in American International Group by 0.7% during the first quarter. Montag A & Associates Inc. now owns 17,788 shares of the insurance provider's stock valued at $1,546,000 after purchasing an additional 130 shares in the last quarter. Finally, Carnegie Investment Counsel grew its holdings in shares of American International Group by 3.1% during the 1st quarter. Carnegie Investment Counsel now owns 4,311 shares of the insurance provider's stock valued at $375,000 after acquiring an additional 131 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Piper Sandler cut their price target on shares of American International Group from $96.00 to $88.00 and set an "overweight" rating on the stock in a report on Thursday, October 2nd. Bank of America raised their price objective on American International Group from $88.00 to $94.00 and gave the company a "neutral" rating in a research note on Monday, October 13th. William Blair raised shares of American International Group to a "strong-buy" rating in a report on Friday, August 1st. Weiss Ratings reiterated a "buy (b)" rating on shares of American International Group in a report on Wednesday, October 8th. Finally, Evercore ISI raised their target price on American International Group from $89.00 to $90.00 and gave the company an "in-line" rating in a report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $89.81.

American International Group Price Performance

NYSE:AIG opened at $79.06 on Wednesday. American International Group, Inc. has a 52 week low of $69.24 and a 52 week high of $88.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63. The company has a 50-day moving average of $79.98 and a 200-day moving average of $81.40. The company has a market capitalization of $43.80 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 0.77 and a beta of 0.68.

American International Group (NYSE:AIG - Get Free Report) last posted its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $6.81 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. As a group, equities research analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Tuesday, September 16th. American International Group's dividend payout ratio is presently 34.09%.

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.

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