Corient Private Wealth LP Sells 37,499 Shares of American International Group, Inc. $AIG

Key Points

• Corient Private Wealth reduced its AIG stake by 10.6%, selling 37,499 shares and retaining 317,431 shares valued at approximately $23.7 million. Institutional investors collectively own 90.6% of the company.
• AIG reported quarterly EPS of $2.00, exceeding the $1.92 consensus estimate, although revenue of $7.08 billion fell short of expectations. Analysts maintain a consensus “Hold” rating with an average price target of $88.37.
• AIG declared a quarterly dividend of $0.50 per share, equivalent to a $2.00 annualized payout and a 2.7% yield; the dividend is payable September 30 to shareholders of record September 16.

Corient Private Wealth LP cut its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 10.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 317,431 shares of the insurance provider's stock after selling 37,499 shares during the period. Corient Private Wealth LP owned approximately 0.06% of American International Group worth $23,658,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Modus Advisors LLC acquired a new position in shares of American International Group during the 4th quarter worth about $27,000. Mcguire Capital Advisors Inc. acquired a new position in American International Group during the fourth quarter valued at approximately $29,000. First Bancorp Inc ME bought a new stake in American International Group in the second quarter valued at approximately $30,000. SHP Wealth Management bought a new stake in American International Group in the fourth quarter valued at approximately $34,000. Finally, Fiduciary Financial Advisors acquired a new stake in American International Group in the second quarter worth $34,000. Institutional investors and hedge funds own 90.60% of the company's stock.

American International Group Trading Down 0.0%

AIG opened at $75.33 on Monday. The stock has a market capitalization of $39.39 billion, a P/E ratio of 13.77, a P/E/G ratio of 0.84 and a beta of 0.50. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $87.29. The firm's fifty day simple moving average is $77.79 and its 200 day simple moving average is $76.82.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly 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. The firm had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.25 billion. American International Group had a return on equity of 11.05% and a net margin of 11.13%.During the same quarter last year, the business posted $1.81 EPS. As a group, research analysts anticipate that American International Group, Inc. will post 8.02 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, September 16th. American International Group's dividend payout ratio (DPR) is currently 36.56%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of American International Group from $86.00 to $90.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. Barclays raised their price objective on American International Group from $80.00 to $81.00 and gave the stock an "equal weight" rating in a research note on Friday, August 7th. Wells Fargo & Company reduced their target price on American International Group from $89.00 to $85.00 and set an "equal weight" rating on the stock in a report on Monday, August 10th. HSBC decreased their target price 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. Finally, UBS Group raised their price target on American International Group from $94.00 to $98.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. Eight analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $88.37.

Insider Activity

In related news, insider Peter Zaffino sold 36,829 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $76.14, for a total transaction of $2,804,160.06. Following the completion of the transaction, the insider owned 556,004 shares in the company, valued at approximately $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 can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by company insiders.

American International Group Company Profile

American International Group, Inc NYSE: AIG is a global insurance organization that provides commercial and personal insurance products and services. Through its General Insurance business, AIG offers property, casualty, liability, workers' compensation, accident, specialty, and other insurance solutions to businesses, institutions, and individuals.

AIG serves multinational corporations, small and midsize businesses, public-sector organizations, and individual policyholders through a network spanning numerous countries and jurisdictions.

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