American International Group, Inc. $AIG Shares Sold by Redwood Investment Management LLC

Key Points

• Redwood Investment Management LLC reduced its stake in American International Group, Inc. (AIG) by 16.6%, holding 58,650 shares valued at approximately $5.1 million.
• Several institutional investors made significant adjustments, with GQG Partners LLC increasing its holdings by 33,315% to over 18 million shares worth nearly $1.64 billion.
• American International Group announced a quarterly dividend of $0.45 to be paid on September 30th, representing an annualized yield of 2.2%.

Redwood Investment Management LLC decreased its position in American International Group, Inc. (NYSE:AIG - Free Report) by 16.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,650 shares of the insurance provider's stock after selling 11,632 shares during the quarter. American International Group accounts for approximately 0.6% of Redwood Investment Management LLC's holdings, making the stock its 25th largest holding. Redwood Investment Management LLC's holdings in American International Group were worth $5,099,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. Ameriflex Group Inc. acquired a new stake in American International Group in the fourth quarter valued at $29,000. Sachetta LLC lifted its stake in American International Group by 194.5% in the first quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock worth $33,000 after purchasing an additional 249 shares during the last quarter. Hemington Wealth Management raised its stake in shares of American International Group by 42.8% during the first quarter. Hemington Wealth Management now owns 474 shares of the insurance provider's stock valued at $41,000 after acquiring an additional 142 shares during the last quarter. NBC Securities Inc. purchased a new stake in American International Group in the first quarter worth about $47,000. Finally, SouthState Corp raised its stake in American International Group by 798.5% during the 1st quarter. SouthState Corp now owns 584 shares of the insurance provider's stock valued at $51,000 after buying an additional 519 shares during the last quarter. Institutional investors own 90.60% of the company's stock.

American International Group Trading Down 0.3%

American International Group stock traded down $0.23 during mid-day trading on Friday, hitting $81.37. The stock had a trading volume of 4,039,872 shares, compared to its average volume of 3,797,396. The stock has a market capitalization of $45.08 billion, a PE ratio of 15.41, a P/E/G ratio of 0.87 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 stock has a 50-day simple moving average of $81.34 and a two-hundred day simple moving average of $81.81. American International Group, Inc. has a 12 month low of $69.24 and a 12 month high of $88.07.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly 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 return on equity of 7.88% and a net margin of 11.51%.The business had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.81 billion. During the same period last year, the firm posted $1.16 EPS. As a group, sell-side analysts forecast that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. American International Group's dividend payout ratio (DPR) is presently 34.09%.

Analyst Ratings Changes

A number of equities analysts have commented on AIG shares. Keefe, Bruyette & Woods dropped 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. Citigroup assumed coverage on shares of American International Group in a report on Wednesday, August 13th. They set a "neutral" rating and a $85.00 price target on the stock. Cantor Fitzgerald upgraded shares of American International Group to a "hold" rating in a research report on Tuesday, August 12th. Wall Street Zen lowered shares of American International Group from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Finally, Wells Fargo & Company raised their price objective on shares of American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. 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. According to data from MarketBeat.com, American International Group has an average 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.