Easterly Investment Partners LLC Trims Holdings in American International Group, Inc. $AIG

Key Points

• Easterly Investment Partners LLC decreased its holdings in American International Group, Inc. by 17.5% during the second quarter, selling 14,191 shares to end up with 66,810 shares worth approximately $5.7 million.
• Other institutional investors similarly adjusted their positions, with significant increases from firms like Pinnacle Associates Ltd. and Aaron Wealth Advisors LLC, highlighting a trend of cautious investment surrounding AIG.
• Analysts have varied ratings for AIG, with the consensus being a "Moderate Buy" and an average price target of $89.81, indicating potential for moderate growth.

Easterly Investment Partners LLC cut its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 17.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,810 shares of the insurance provider's stock after selling 14,191 shares during the quarter. Easterly Investment Partners LLC's holdings in American International Group were worth $5,718,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Pinnacle Associates Ltd. increased its holdings in American International Group by 1.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 7,706 shares of the insurance provider's stock valued at $670,000 after purchasing an additional 122 shares in the last quarter. Aaron Wealth Advisors LLC boosted its position in shares of American International Group by 2.4% in the second quarter. Aaron Wealth Advisors LLC now owns 5,466 shares of the insurance provider's stock worth $468,000 after buying an additional 126 shares during the period. Monument Capital Management grew its stake in shares of American International Group by 3.5% in the second quarter. Monument Capital Management now owns 3,828 shares of the insurance provider's stock valued at $328,000 after buying an additional 129 shares in the last quarter. Montag A & Associates Inc. raised its holdings in shares of American International Group by 0.7% during the 1st quarter. Montag A & Associates Inc. now owns 17,788 shares of the insurance provider's stock valued at $1,546,000 after buying an additional 130 shares during the period. Finally, Carnegie Investment Counsel lifted its position in American International Group by 3.1% during the 1st quarter. Carnegie Investment Counsel now owns 4,311 shares of the insurance provider's stock worth $375,000 after acquiring an additional 131 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wolfe Research started coverage on shares of American International Group in a research report on Tuesday, September 16th. They issued a "peer perform" rating for the company. Cantor Fitzgerald upgraded shares of American International Group to a "hold" rating in a research note on Tuesday, August 12th. Bank of America lifted their price target on shares of American International Group from $88.00 to $94.00 and gave the stock a "neutral" rating in a research note on Monday. Morgan Stanley lowered their price objective on American International Group from $85.00 to $84.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 7th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of American International Group in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, American International Group has a consensus rating of "Moderate Buy" and an average target price of $89.81.

American International Group Price Performance

Shares of AIG opened at $77.00 on Friday. American International Group, Inc. has a 12 month low of $69.24 and a 12 month high of $88.07. 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 stock has a fifty day moving average price of $80.02 and a 200 day moving average price of $81.57. The company has a market cap of $42.66 billion, a P/E ratio of 14.58, a PEG ratio of 0.80 and a beta of 0.68.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $0.21. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The business had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.81 billion. During the same quarter last year, the company earned $1.16 EPS. On average, research analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. American International Group's dividend payout ratio is presently 34.09%.

About American International Group

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.

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