American International Group, Inc. (NYSE:AIG) Shares Sold by Deseret Mutual Benefit Administrators

Deseret Mutual Benefit Administrators cut its holdings in shares of American International Group, Inc. (NYSE:AIG) by 5.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,444 shares of the insurance provider’s stock after selling 275 shares during the period. Deseret Mutual Benefit Administrators’ holdings in American International Group were worth $330,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. acquired a new position in American International Group during the fourth quarter worth about $148,000. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of American International Group during the fourth quarter valued at $393,000. Private Advisor Group LLC lifted its stake in American International Group by 6.5% during the fourth quarter. Private Advisor Group LLC now owns 30,161 shares of the insurance provider’s stock valued at $2,044,000 after buying an additional 1,837 shares in the last quarter. Lincoln National Corp acquired a new position in American International Group in the 4th quarter worth approximately $333,000. Finally, Apollon Wealth Management LLC grew its holdings in shares of American International Group by 66.9% during the fourth quarter. Apollon Wealth Management LLC now owns 20,551 shares of the insurance provider’s stock valued at $1,392,000 after buying an additional 8,235 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder International Group American sold 8,032,129 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total value of $200,000,012.10. Following the sale, the insider now owns 284,238,898 shares in the company, valued at approximately $7,077,548,560.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.61% of the company’s stock.

American International Group Price Performance

Shares of NYSE:AIG traded down $1.20 during midday trading on Thursday, reaching $75.49. 245,076 shares of the company’s stock were exchanged, compared to its average volume of 4,105,003. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67. The company’s 50 day simple moving average is $75.09 and its two-hundred day simple moving average is $75.55. American International Group, Inc. has a 12 month low of $57.72 and a 12 month high of $80.83. The firm has a market capitalization of $50.10 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 3.84 and a beta of 1.06.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The business had revenue of $1.00 million for the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the prior year, the business earned $1.75 EPS. The firm’s revenue for the quarter was up .0% on a year-over-year basis. Equities research analysts expect that American International Group, Inc. will post 5.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Monday, September 16th. American International Group’s dividend payout ratio (DPR) is 23.88%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AIG shares. Bank of America upped their price objective on shares of American International Group from $81.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $87.00 price objective on shares of American International Group in a research report on Tuesday, July 9th. BMO Capital Markets lifted their target price on shares of American International Group from $88.00 to $89.00 and gave the company an “outperform” rating in a research note on Monday, May 13th. Wells Fargo & Company lowered their target price on shares of American International Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, American International Group has a consensus rating of “Hold” and a consensus target price of $83.88.

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.