Cetera Investment Advisers Reduces Stock Position in American International Group, Inc. $AIG

Cetera Investment Advisers lessened its stake in American International Group, Inc. (NYSE:AIG) by 35.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 61,078 shares of the insurance provider’s stock after selling 34,112 shares during the quarter. Cetera Investment Advisers’ holdings in American International Group were worth $4,596,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AIG. Norges Bank purchased a new stake in American International Group in the 4th quarter valued at $636,782,000. Price T Rowe Associates Inc. MD raised its holdings in shares of American International Group by 39.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock worth $1,400,613,000 after acquiring an additional 4,661,246 shares during the period. Franklin Resources Inc. raised its holdings in shares of American International Group by 36.9% during the 4th quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock worth $1,336,147,000 after acquiring an additional 4,210,363 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its position in shares of American International Group by 22.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock valued at $805,529,000 after acquiring an additional 1,846,979 shares during the last quarter. Finally, Viking Global Investors LP acquired a new position in shares of American International Group during the 2nd quarter valued at about $155,413,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AIG shares. The Goldman Sachs Group raised their price objective on shares of American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. UBS Group boosted their target price on shares of American International Group from $94.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Morgan Stanley dropped their price target on shares of American International Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, April 6th. JPMorgan Chase & Co. raised their price target on shares of American International Group from $86.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $80.00 price target (down from $88.00) on shares of American International Group in a research report on Wednesday, July 15th. Seven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $88.22.

American International Group Stock Up 0.3%

Shares of NYSE:AIG opened at $78.85 on Tuesday. The business has a 50-day moving average price of $76.94 and a 200 day moving average price of $76.59. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $41.81 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 0.72 and a beta of 0.52. American International Group, Inc. has a 12-month low of $71.25 and a 12-month high of $87.29.

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.