Sei Investments Co. Sells 43,058 Shares of American International Group, Inc. $AIG

Key Points

• Sei Investments Co. reduced its stake in American International Group (AIG) by 2.9% in the first quarter, owning 1,431,904 shares valued at approximately $124.49 million.
• Analysts have varied opinions on AIG, with ratings ranging from "strong buy" to "neutral," and a consensus target price set at $88.27.
• AIG's recent quarterly earnings report showed an EPS of $1.81, surpassing estimates and reflecting a strong year-over-year growth compared to $1.16 EPS in the previous year.

Sei Investments Co. lowered its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 2.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,431,904 shares of the insurance provider's stock after selling 43,058 shares during the quarter. American International Group accounts for about 1.2% of Sei Investments Co.'s investment portfolio, making the stock its 20th largest position. Sei Investments Co. owned approximately 0.25% of American International Group worth $124,490,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of AIG. Ameriflex Group Inc. bought a new stake in American International Group in the fourth quarter worth $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 acquiring an additional 249 shares during the period. Hemington Wealth Management lifted its stake in American International Group by 42.8% in the first 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 period. NBC Securities Inc. purchased a new stake in shares of American International Group during the first quarter valued at about $47,000. Finally, SouthState Corp lifted its position in shares of American International Group by 798.5% during the first 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. Hedge funds and other institutional investors own 90.60% of the company's stock.

American International Group Stock Performance

Shares of NYSE AIG traded up $0.76 during mid-day trading on Tuesday, hitting $81.14. The company had a trading volume of 982,077 shares, compared to its average volume of 4,535,853. American International Group, Inc. has a 12 month low of $69.24 and a 12 month high of $88.07. The stock has a market cap of $44.95 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 0.86 and a beta of 0.63. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63. The firm's 50 day simple moving average is $81.71 and its two-hundred day simple moving average is $81.45.

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

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. American International Group's payout ratio is 34.09%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AIG. Barclays increased their price target on shares of American International Group from $92.00 to $93.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Wall Street Zen raised American International Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Morgan Stanley lifted their target price on American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Cantor Fitzgerald upgraded American International Group to a "hold" rating in a research note on Tuesday, August 12th. Finally, Cfra Research raised American International Group to a "moderate buy" rating in a research report on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $88.27.

American International Group Company 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.