American International Group, Inc. $AIG Shares Sold by Sitrin Capital Management LLC

Sitrin Capital Management LLC decreased its position in shares of American International Group, Inc. (NYSE:AIG) by 13.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,775 shares of the insurance provider’s stock after selling 12,102 shares during the period. American International Group accounts for approximately 3.5% of Sitrin Capital Management LLC’s portfolio, making the stock its 12th biggest holding. Sitrin Capital Management LLC’s holdings in American International Group were worth $6,828,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in AIG. Pinnacle Associates Ltd. grew its stake in American International Group by 1.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 7,706 shares of the insurance provider’s stock valued at $670,000 after purchasing an additional 122 shares in the last quarter. Miracle Mile Advisors LLC grew its position in shares of American International Group by 1.6% in the 1st quarter. Miracle Mile Advisors LLC now owns 8,094 shares of the insurance provider’s stock worth $704,000 after acquiring an additional 124 shares in the last quarter. Western Pacific Wealth Management LP grew its position in shares of American International Group by 2.3% in the 1st quarter. Western Pacific Wealth Management LP now owns 5,673 shares of the insurance provider’s stock worth $493,000 after acquiring an additional 125 shares in the last quarter. Aaron Wealth Advisors LLC grew its position in shares of American International Group by 2.4% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 5,466 shares of the insurance provider’s stock worth $468,000 after acquiring an additional 126 shares in the last quarter. Finally, Montag A & Associates Inc. grew its position in shares of American International Group by 0.7% in the 1st quarter. Montag A & Associates Inc. now owns 17,788 shares of the insurance provider’s stock worth $1,546,000 after acquiring an additional 130 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on AIG shares. Keefe, Bruyette & Woods decreased their target price on American International Group from $97.00 to $91.00 and set an “outperform” rating for the company in a research report on Tuesday, August 12th. Wall Street Zen upgraded American International Group from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Cantor Fitzgerald upgraded American International Group to a “hold” rating in a research report on Tuesday, August 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of American International Group in a research report on Wednesday. Finally, The Goldman Sachs Group lifted their target price on American International Group from $85.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday. Two 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.94.

American International Group Stock Down 0.0%

AIG opened at $84.01 on Thursday. American International Group, Inc. has a one year low of $69.24 and a one year high of $88.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63. The stock’s fifty day moving average is $79.61 and its 200-day moving average is $81.70. The company has a market capitalization of $46.54 billion, a PE ratio of 15.91, a P/E/G ratio of 0.89 and a beta of 0.68.

American International Group (NYSE:AIG) last announced its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.21. The company had revenue of $6.77 billion for the quarter, compared to analyst estimates 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 previous year, the firm earned $1.16 earnings per share. On average, equities analysts predict that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were paid a $0.45 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. American International Group’s payout ratio is 34.09%.

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.