American International Group, Inc. $AIG Shares Sold by Parsons Capital Management Inc. RI

Key Points

• Parsons Capital Management Inc. RI reduced its holdings in American International Group, Inc. (NYSE:AIG) by 53.8%, now owning 17,198 shares valued at approximately $1.47 million.
• American International Group reported a Q2 earnings per share (EPS) of $1.81, surpassing analysts' expectations of $1.60, with a total revenue of $6.77 billion.
• The firm declared a quarterly dividend of $0.45 per share, with an annualized yield of 2.3% and a dividend payout ratio of 34.09%.

Parsons Capital Management Inc. RI cut its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 53.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,198 shares of the insurance provider's stock after selling 20,035 shares during the period. Parsons Capital Management Inc. RI's holdings in American International Group were worth $1,472,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Sachetta LLC increased its position in shares of American International Group by 194.5% during the first quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock worth $33,000 after purchasing an additional 249 shares in the last quarter. Hemington Wealth Management raised its stake in American International Group by 42.8% in the 1st quarter. Hemington Wealth Management now owns 474 shares of the insurance provider's stock worth $41,000 after acquiring an additional 142 shares during the last quarter. NBC Securities Inc. purchased a new position in American International Group in the 1st quarter worth $47,000. WPG Advisers LLC purchased a new position in American International Group in the 1st quarter worth $47,000. Finally, SouthState Corp raised its stake 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 owned by institutional investors and hedge funds.

American International Group Price Performance

NYSE:AIG opened at $79.68 on Friday. American International Group, Inc. has a 52 week low of $69.24 and a 52 week high of $88.07. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $44.14 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 0.85 and a beta of 0.68. The stock's 50-day moving average price is $79.28 and its 200-day moving average price is $81.72.

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

American International Group Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Wall Street Zen lowered American International Group from a "buy" rating to a "hold" rating in a research note on Tuesday, September 23rd. Keefe, Bruyette & Woods reduced their target price on 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. Cantor Fitzgerald upgraded American International Group to a "hold" rating 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. Finally, Evercore ISI increased their price target on American International Group from $89.00 to $90.00 and gave the stock an "in-line" rating in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, American International Group has a consensus rating of "Moderate Buy" and a consensus target price of $88.31.

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.

Want to see what other hedge funds are holding AIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American International Group, Inc. (NYSE:AIG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.