American International Group, Inc. $AIG Stock: SteelPeak Wealth LLC Trims Position

SteelPeak Wealth LLC lowered its position in shares of American International Group, Inc. (NYSE:AIG) by 25.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,792 shares of the insurance provider’s stock after selling 15,821 shares during the period. SteelPeak Wealth LLC’s holdings in American International Group were worth $3,482,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Lee Danner & Bass Inc. raised its position in shares of American International Group by 194.2% during the first quarter. Lee Danner & Bass Inc. now owns 33,781 shares of the insurance provider’s stock worth $2,542,000 after purchasing an additional 22,300 shares during the period. Swiss National Bank boosted its position in shares of American International Group by 4.3% in the 1st quarter. Swiss National Bank now owns 1,583,564 shares of the insurance provider’s stock valued at $119,163,000 after purchasing an additional 65,400 shares during the period. KBC Group NV boosted its position in shares of American International Group by 5.8% in the 1st quarter. KBC Group NV now owns 343,754 shares of the insurance provider’s stock valued at $25,868,000 after purchasing an additional 18,812 shares during the period. Freestone Grove Partners LP boosted its position in shares of American International Group by 51.5% in the 2nd quarter. Freestone Grove Partners LP now owns 1,925,980 shares of the insurance provider’s stock valued at $143,543,000 after purchasing an additional 655,065 shares during the period. Finally, Algebris UK Ltd. increased its stake in American International Group by 98.4% in the 2nd quarter. Algebris UK Ltd. now owns 1,235,231 shares of the insurance provider’s stock worth $91,772,000 after purchasing an additional 612,790 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Trading Up 1.9%

Shares of American International Group stock opened at $80.60 on Friday. The company’s fifty day simple moving average is $76.09 and its 200-day simple moving average is $76.60. The company has a market cap of $42.14 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 0.85 and a beta of 0.52. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $87.29.

American International Group (NYSE:AIG) last released its earnings results on Friday, August 7th. The insurance provider reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.08. American International Group had a net margin of 11.13% and a return on equity of 11.05%. The business had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.25 billion. During the same quarter last year, the company earned $1.81 earnings per share. As a group, sell-side analysts expect that American International Group, Inc. will post 8.07 EPS for the current year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Wednesday, September 16th. American International Group’s payout ratio is presently 36.56%.

Analysts Set New Price Targets

AIG has been the topic of several research analyst reports. Keefe, Bruyette & Woods lowered their price objective on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a research report on Monday, October 12th. Mizuho reduced their target price on American International Group from $85.00 to $83.00 and set a “neutral” rating for the company in a report on Wednesday, October 7th. Morgan Stanley decreased their target price on American International Group from $81.00 to $80.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 6th. Royal Bank Of Canada lifted their price target on American International Group from $85.00 to $87.00 and gave the company a “sector perform” rating in a report on Monday, August 10th. Finally, UBS Group upped their price target on American International Group from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, October 6th. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, American International Group has a consensus rating of “Hold” and a consensus target price of $87.68.

Insider Transactions at American International Group

In other American International Group news, insider Peter Zaffino sold 36,829 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $76.14, for a total transaction of $2,804,160.06. Following the sale, the insider directly owned 556,004 shares of the company’s stock, valued at approximately $42,334,144.56. This represents a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.

American International Group Profile

American International Group, Inc (NYSE:AIG) is a global insurance organization whose principal operating business is general insurance. Through its property and casualty operations, AIG provides commercial and personal insurance products, including coverage for businesses, multinational companies, individuals, and specialty risks. Its offerings include property, casualty, liability, marine, aviation, cyber, accident, and travel insurance, along with other risk-management solutions.

AIG serves customers through a network spanning approximately 190 countries and jurisdictions.