Osmosis Investment Management UK Ltd Cuts Position in American International Group, Inc. $AIG

Key Points

• Osmosis Investment Management UK Ltd. cut its AIG position by 47.7% in the second quarter, selling 19,788 shares and retaining 21,721 shares valued at approximately $1.62 million. Institutional investors collectively own 90.6% of AIG.
• AIG’s latest quarterly results beat expectations on earnings, reporting $2.00 EPS versus the $1.92 consensus, although revenue of $7.08 billion fell short of the $7.25 billion estimate. The company declared a quarterly dividend of $0.50 per share, yielding about 2.6% annually.
• Insider Peter Zaffino sold 200,000 shares for approximately $15.3 million under a pre-arranged trading plan. Analysts maintain a broadly neutral outlook, with AIG rated “Hold” overall and an average price target of $88.28.

Osmosis Investment Management UK Ltd decreased its position in American International Group, Inc. (NYSE:AIG - Free Report) by 47.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,721 shares of the insurance provider's stock after selling 19,788 shares during the quarter. Osmosis Investment Management UK Ltd's holdings in American International Group were worth $1,619,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in AIG. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of American International Group by 258.9% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,183 shares of the insurance provider's stock worth $908,000 after purchasing an additional 8,788 shares during the last quarter. Bank of Nova Scotia grew its stake in shares of American International Group by 131.5% during the second quarter. Bank of Nova Scotia now owns 1,175,453 shares of the insurance provider's stock worth $87,607,000 after purchasing an additional 667,791 shares in the last quarter. Evolve Private Wealth LLC purchased a new position in American International Group in the second quarter valued at $2,645,000. EP Wealth Advisors LLC increased its holdings in American International Group by 31.3% in the second quarter. EP Wealth Advisors LLC now owns 12,613 shares of the insurance provider's stock valued at $940,000 after buying an additional 3,010 shares during the last quarter. Finally, Ieq Capital LLC raised its stake in American International Group by 29.6% in the second quarter. Ieq Capital LLC now owns 65,907 shares of the insurance provider's stock valued at $4,912,000 after buying an additional 15,040 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company's stock.

Insider Transactions at American International Group

In other American International Group news, insider Peter Zaffino sold 200,000 shares of the company'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 transaction of $15,294,000.00. Following the completion of the sale, the insider directly owned 592,833 shares of the company's stock, valued at $45,333,939.51. This represents a 25.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 Stock Performance

Shares of American International Group stock opened at $77.37 on Tuesday. The firm's fifty day simple moving average is $77.74 and its 200-day simple moving average is $77.01. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $87.29. The stock has a market capitalization of $40.45 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 0.69 and a beta of 0.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.08. The company had revenue of $7.08 billion for the quarter, compared to the consensus estimate 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 period last year, the firm posted $1.81 EPS. As a group, equities analysts forecast that American International Group, Inc. will post 8.02 earnings per share for the current year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, September 16th. American International Group's payout ratio is 36.56%.

Analyst Ratings Changes

A number of brokerages have issued reports on AIG. UBS Group lifted their price target on American International Group from $94.00 to $98.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. Morgan Stanley cut their target price on American International Group from $82.00 to $81.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 12th. Wells Fargo & Company decreased their target price on American International Group from $89.00 to $85.00 and set an "equal weight" rating for the company in a research note on Monday, August 10th. Piper Sandler upped their price target on American International Group from $80.00 to $84.00 and gave the company a "neutral" rating in a report on Monday, August 10th. Finally, Barclays increased their price target on shares of American International Group from $80.00 to $81.00 and gave the company an "equal weight" rating in a research note on Friday, August 7th. Seven research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat, American International Group presently has an average rating of "Hold" and an average target price of $88.28.

American International Group Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.

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