Richard Bernstein Advisors LLC Sells 31,282 Shares of American International Group, Inc. $AIG

Richard Bernstein Advisors LLC trimmed its position in shares of American International Group, Inc. (NYSE:AIG) by 42.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 42,289 shares of the insurance provider’s stock after selling 31,282 shares during the quarter. Richard Bernstein Advisors LLC’s holdings in American International Group were worth $3,321,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Westfuller Advisors LLC purchased a new stake in American International Group in the 3rd quarter worth approximately $26,000. Atlantic Union Bankshares Corp boosted its position in American International Group by 7,100.0% in the third quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 355 shares during the last quarter. Eastern Bank increased its holdings in shares of American International Group by 2,473.3% during the third quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 371 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in American International Group during the 2nd quarter worth approximately $32,000. Finally, Motco grew its holdings in shares of American International Group by 950.0% in the third quarter. Motco now owns 420 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 380 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Trading Down 1.4%

Shares of American International Group stock opened at $77.62 on Tuesday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average price is $77.36 and its 200-day moving average price is $78.87. American International Group, Inc. has a 12-month low of $71.25 and a 12-month high of $88.07. The company has a market cap of $41.65 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 0.61 and a beta of 0.58.

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

American International Group Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on AIG shares. Keefe, Bruyette & Woods increased their target price on American International Group from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Jefferies Financial Group lifted their target price on shares of American International Group from $96.00 to $101.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Evercore dropped their price target on shares of American International Group from $90.00 to $85.00 in a research note on Friday, January 23rd. Wells Fargo & Company boosted their price target on American International Group from $85.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Friday, February 13th. Finally, The Goldman Sachs Group upgraded American International Group from a “neutral” rating to a “buy” rating and set a $90.00 target price on the stock in a research report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, American International Group has a consensus rating of “Hold” and an average price target of $87.95.

About American International Group

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.