Skandinaviska Enskilda Banken AB publ Reduces Stake in American International Group, Inc. $AIG

Skandinaviska Enskilda Banken AB publ decreased its holdings in shares of American International Group, Inc. (NYSE:AIG) by 5.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 117,626 shares of the insurance provider’s stock after selling 7,097 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in American International Group were worth $9,238,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. lifted its position in shares of American International Group by 2.6% during the 2nd quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock worth $434,000 after buying an additional 129 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in American International Group by 2.9% in the second quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock valued at $396,000 after acquiring an additional 130 shares during the last quarter. First Bank & Trust boosted its stake in American International Group by 2.2% in the third quarter. First Bank & Trust now owns 6,053 shares of the insurance provider’s stock valued at $475,000 after acquiring an additional 131 shares in the last quarter. Howard Capital Management Inc. grew its holdings in shares of American International Group by 3.0% during the third quarter. Howard Capital Management Inc. now owns 4,717 shares of the insurance provider’s stock worth $370,000 after purchasing an additional 138 shares during the last quarter. Finally, AdvisorNet Financial Inc increased its position in shares of American International Group by 8.3% during the third quarter. AdvisorNet Financial Inc now owns 1,937 shares of the insurance provider’s stock worth $152,000 after purchasing an additional 149 shares in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Stock Performance

NYSE:AIG opened at $79.78 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61. The firm has a market cap of $42.81 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 0.61 and a beta of 0.61. The firm’s fifty day moving average price is $78.95 and its 200 day moving average price is $78.87. American International Group, Inc. has a 1-year low of $71.25 and a 1-year high of $88.07.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Tuesday, February 10th. The insurance provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.06. The company had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.99 billion. American International Group had a net margin of 11.56% and a return on equity of 9.79%. During the same quarter in the prior year, the firm earned $1.30 EPS. On average, sell-side analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Monday, March 16th. American International Group’s payout ratio is currently 33.21%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Jefferies Financial Group upped their target price on American International Group from $96.00 to $101.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Wall Street Zen downgraded American International Group from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Cantor Fitzgerald lifted their target price on shares of American International Group from $77.00 to $81.00 and gave the company a “neutral” rating in a report on Tuesday. The Goldman Sachs Group increased their price target on shares of American International Group from $81.00 to $83.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. Finally, Piper Sandler lowered their price objective on shares of American International Group from $95.00 to $88.00 and set an “overweight” rating on the stock in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $87.58.

American International Group Company 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.