Sitrin Capital Management LLC Reduces Stock Position in American International Group, Inc. $AIG

Key Points

• Sitrin Capital Management LLC has reduced its stake in American International Group, Inc. by 13.2%, now owning 79,775 shares valued at approximately $6.83 million.
• American International Group's earnings per share for the last quarter were $1.81, exceeding analysts' expectations of $1.60.
• The company recently announced a quarterly dividend of $0.45, translating to an annualized dividend of $1.80 and a yield of 2.1%.

Sitrin Capital Management LLC lessened its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 13.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,775 shares of the insurance provider's stock after selling 12,102 shares during the quarter. American International Group comprises about 3.5% of Sitrin Capital Management LLC's investment portfolio, making the stock its 12th biggest holding. Sitrin Capital Management LLC's holdings in American International Group were worth $6,828,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Sachetta LLC boosted its holdings in shares of American International Group by 194.5% during the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 249 shares during the last quarter. Barrett & Company Inc. purchased a new stake in shares of American International Group during the 2nd quarter valued at about $35,000. Hemington Wealth Management boosted its holdings in shares of American International Group by 42.8% during the 1st quarter. Hemington Wealth Management now owns 474 shares of the insurance provider's stock valued at $41,000 after acquiring an additional 142 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of American International Group during the 2nd quarter valued at about $42,000. Finally, NBC Securities Inc. purchased a new stake in shares of American International Group during the 1st quarter valued at about $47,000. Hedge funds and other institutional investors own 90.60% of the company's stock.

American International Group Stock Down 0.0%

Shares of AIG opened at $84.01 on Thursday. The company has a market capitalization of $46.54 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 0.89 and a beta of 0.68. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 52-week low of $69.24 and a 52-week high of $88.07. The stock has a fifty day simple moving average of $79.61 and a two-hundred day simple moving average of $81.70.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.81 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same period in the prior year, the business posted $1.16 EPS. As a group, equities analysts forecast that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, September 16th. American International Group's dividend payout ratio (DPR) is presently 34.09%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AIG shares. Weiss Ratings reissued a "buy (b)" rating on shares of American International Group in a report on Wednesday. Evercore ISI raised their price objective on shares of American International Group from $89.00 to $90.00 and gave the stock an "in-line" rating in a report on Wednesday, October 1st. Jefferies Financial Group raised their price objective on shares of American International Group from $96.00 to $99.00 and gave the stock a "buy" rating in a report on Tuesday. UBS Group raised their price objective on shares of American International Group from $90.00 to $94.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, The Goldman Sachs Group raised their price objective on shares of American International Group from $85.00 to $86.00 and gave the stock a "neutral" rating in a report on Monday. Two investment 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. Based on data from MarketBeat, American International Group currently has an average rating of "Moderate Buy" and an average target price of $88.94.

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.

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