Sit Investment Associates Inc. Decreases Holdings in American International Group, Inc. $AIG

Key Points

• Sit Investment Associates Inc. has reduced its stake in American International Group, Inc. (AIG) by 34.3%, selling 46,475 shares to hold 88,989 shares, valued at approximately $7.74 million as of the latest SEC filing.
• American International Group has seen varied institutional interest, with Sachetta LLC increasing its position by 194.5% and SouthState Corp raising holdings by an impressive 798.5% during the same quarter.
• AIG's recent earnings report showed an EPS of $1.81, surpassing analysts' expectations, while the company has also announced a $0.45 quarterly dividend to be paid on September 30th.

Sit Investment Associates Inc. lowered its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 34.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 88,989 shares of the insurance provider's stock after selling 46,475 shares during the period. Sit Investment Associates Inc.'s holdings in American International Group were worth $7,737,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameriflex Group Inc. acquired a new stake in shares of American International Group during the fourth quarter worth about $29,000. Sachetta LLC increased its position in shares of American International Group by 194.5% during the first quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock worth $33,000 after purchasing an additional 249 shares in the last quarter. Hemington Wealth Management increased its position in shares of American International Group by 42.8% during the first quarter. Hemington Wealth Management now owns 474 shares of the insurance provider's stock worth $41,000 after purchasing an additional 142 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of American International Group during the first quarter worth about $47,000. Finally, SouthState Corp increased 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 worth $51,000 after purchasing an additional 519 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays boosted their price target on American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Wells Fargo & Company boosted their price target on American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. William Blair upgraded American International Group to a "strong-buy" rating in a research report on Friday, August 1st. Keefe, Bruyette & Woods dropped their price target on American International Group from $97.00 to $91.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Finally, Morgan Stanley boosted their price target 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. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, American International Group has an average rating of "Moderate Buy" and a consensus target price of $88.27.

American International Group Stock Performance

AIG traded up $1.1590 during trading on Wednesday, reaching $82.4490. The company's stock had a trading volume of 3,424,105 shares, compared to its average volume of 4,309,755. American International Group, Inc. has a 52-week low of $69.24 and a 52-week high of $88.07. The company's fifty day moving average price is $81.61 and its 200-day moving average price is $81.45. The company has a market capitalization of $45.68 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 0.87 and a beta of 0.63. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63.

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

American International Group Dividend Announcement

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

American International Group 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.