Hosking Partners LLP Sells 51,619 Shares of American International Group, Inc. $AIG

Key Points

• Hosking Partners LLP cut its AIG stake by 6.2% in the third quarter, selling 51,619 shares and retaining 774,523 shares valued at approximately $57.6 million. Institutional investors collectively own 90.6% of AIG.
• AIG insiders also reported selling activity, with CEO Peter Zaffino selling 200,000 shares worth about $15.3 million under a pre-arranged Rule 10b5-1 plan.
• Analysts maintain a generally cautious outlook: AIG has a consensus “Hold” rating and an average price target of $87.68, while the company reported quarterly EPS of $2.00, beating estimates, and continues to pay a $0.50 quarterly dividend.

Hosking Partners LLP reduced its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 6.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 774,523 shares of the insurance provider's stock after selling 51,619 shares during the quarter. American International Group accounts for 2.0% of Hosking Partners LLP's portfolio, making the stock its 12th largest position. Hosking Partners LLP owned about 0.15% of American International Group worth $57,640,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AIG. Wellington Management Group LLP raised its position in American International Group by 6.9% in the second quarter. Wellington Management Group LLP now owns 30,331,704 shares of the insurance provider's stock valued at $2,260,622,000 after purchasing an additional 1,961,270 shares during the period. State Street Corp boosted its position in shares of American International Group by 0.8% in the second quarter. State Street Corp now owns 25,115,416 shares of the insurance provider's stock worth $1,871,852,000 after buying an additional 196,969 shares during the period. Bank of New York Mellon Corp grew its stake in shares of American International Group by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider's stock valued at $619,862,000 after buying an additional 474,035 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of American International Group in the second quarter valued at about $464,539,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of American International Group by 5.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,142,278 shares of the insurance provider's stock valued at $462,147,000 after buying an additional 303,201 shares during the period. Institutional investors and hedge funds own 90.60% of the company's stock.

Insider Activity at American International Group

In other news, insider Peter Zaffino sold 200,000 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $76.47, for a total value of $15,294,000.00. Following the completion of the sale, the insider directly owned 592,833 shares in the company, valued at approximately $45,333,939.51. The trade was a 25.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wells Fargo & Company reduced their price target on American International Group from $85.00 to $83.00 and set an "equal weight" rating on the stock in a research report on Monday, October 12th. Piper Sandler upped their price target on American International Group from $80.00 to $84.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. Royal Bank Of Canada increased their price objective on shares of American International Group from $85.00 to $87.00 and gave the company a "sector perform" rating in a research report on Monday, August 10th. Mizuho dropped their price objective on shares of American International Group from $85.00 to $83.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 7th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of American International Group from $96.00 to $90.00 and set an "outperform" rating on the stock in a research report on Monday, October 12th. Eight investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $87.68.

American International Group Price Performance

AIG opened at $81.76 on Thursday. The company has a 50-day moving average of $76.35 and a 200-day moving average of $76.75. The company has a market capitalization of $42.75 billion, a P/E ratio of 9.90, a PEG ratio of 0.86 and a beta of 0.52. American International Group, Inc. has a 1-year low of $71.25 and a 1-year high of $87.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61.

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

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were given a $0.50 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. American International Group's dividend payout ratio (DPR) is presently 36.56%.

American International Group Company 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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