American International Group, Inc. $AIG Stock: Sumitomo Mitsui Trust Group Inc. Lowers Position

Key Points

• Sumitomo Mitsui Trust Group cut its AIG stake by 8.5% in the third quarter, selling 114,666 shares and retaining 1.24 million shares worth approximately $92.2 million. Institutional investors still own 90.6% of the company.
• AIG reported quarterly EPS of $2.00, beating estimates of $1.92, while revenue came in at $7.08 billion. The company also pays a quarterly dividend of $0.50 per share, equivalent to a 2.4% yield.
• Analyst sentiment is mixed, with eight Buy ratings and ten Holds; the consensus rating is Hold and the average price target is $87.68, compared with shares trading at $82.45.

Sumitomo Mitsui Trust Group Inc. lowered its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 8.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,239,132 shares of the insurance provider's stock after selling 114,666 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of American International Group worth $92,216,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. First Bancorp Inc ME purchased a new stake in American International Group in the 2nd quarter worth approximately $30,000. Fiduciary Financial Advisors bought a new stake in American International Group during the 2nd quarter worth approximately $34,000. Center for Financial Planning Inc. lifted its stake in shares of American International Group by 52.0% during the 3rd quarter. Center for Financial Planning Inc. now owns 456 shares of the insurance provider's stock valued at $34,000 after buying an additional 156 shares in the last quarter. Elevation Wealth Partners LLC lifted its position in shares of American International Group by 71.6% in the third quarter. Elevation Wealth Partners LLC now owns 556 shares of the insurance provider's stock valued at $41,000 after acquiring an additional 232 shares in the last quarter. Finally, Cedar Mountain Advisors LLC purchased a new position in American International Group in the 1st quarter worth approximately $50,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Stock Performance

Shares of NYSE:AIG opened at $82.45 on Tuesday. The firm has a fifty day simple moving average of $77.19 and a two-hundred day simple moving average of $76.80. American International Group, Inc. has a 52 week low of $71.25 and a 52 week 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 stock has a market capitalization of $43.11 billion, a P/E ratio of 15.07, a PEG ratio of 0.84 and a beta of 0.52.

American International Group (NYSE:AIG - Get Free Report) last announced its earnings results on Friday, August 7th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.08. American International Group had a net margin of 11.13% and a return on equity of 11.05%. The firm had revenue of $7.08 billion for the quarter, compared to analysts' expectations of $7.25 billion. During the same period in the prior year, the company earned $1.81 EPS. On average, analysts expect that American International Group, Inc. will post 8.07 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Wednesday, September 16th. American International Group's payout ratio is presently 36.56%.

Analysts Set New Price Targets

AIG has been the subject of several research reports. Cantor Fitzgerald dropped their price objective on shares of American International Group from $92.00 to $90.00 and set an "overweight" rating for the company in a report on Monday, August 17th. Weiss Ratings reiterated a "buy (b-)" rating on shares of American International Group in a research report on Tuesday, September 29th. HSBC dropped their price target on American International Group from $94.00 to $88.00 and set a "buy" rating for the company in a research note on Monday, July 6th. Keefe, Bruyette & Woods cut their price target on American International Group from $96.00 to $90.00 and set an "outperform" rating for the company in a report on Monday, October 12th. Finally, Barclays raised their price target 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. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, American International Group has an average rating of "Hold" and a consensus price target of $87.68.

Insiders Place Their Bets

In other American International Group news, insider Peter Zaffino sold 36,829 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $76.14, for a total transaction of $2,804,160.06. Following the sale, the insider directly owned 556,004 shares in the company, valued at $42,334,144.56. This represents a 6.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by insiders.

American International Group Profile

American International Group, Inc NYSE: AIG is a global insurance organization that provides property and casualty insurance products and related services to businesses, institutions, and individuals. Its offerings include commercial insurance, personal insurance, specialty coverage, accident and health products, and travel-related protection.

AIG serves customers through operations in the United States and international markets. Its commercial insurance business supports companies across industries with coverage such as property, casualty, liability, marine, and other specialty risks, while its personal insurance operations provide protection for individuals and families.

The company was founded in Shanghai in 1919 by Cornelius Vander Starr and is headquartered in New York City.

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