Assetmark Inc. Trims Stock Position in American International Group, Inc. $AIG

Assetmark Inc. cut its stake in American International Group, Inc. (NYSE:AIG) by 14.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,483 shares of the insurance provider’s stock after selling 6,475 shares during the period. Assetmark Inc.’s holdings in American International Group were worth $3,294,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Patton Fund Management Inc. purchased a new position in shares of American International Group in the 2nd quarter valued at approximately $232,000. AIA Group Ltd raised its holdings in American International Group by 169.6% during the first quarter. AIA Group Ltd now owns 10,368 shares of the insurance provider’s stock worth $901,000 after purchasing an additional 6,523 shares in the last quarter. Townsquare Capital LLC lifted its position in American International Group by 5.4% in the first quarter. Townsquare Capital LLC now owns 115,129 shares of the insurance provider’s stock valued at $10,009,000 after purchasing an additional 5,899 shares during the period. Truist Financial Corp lifted its position in American International Group by 11.5% in the second quarter. Truist Financial Corp now owns 77,757 shares of the insurance provider’s stock valued at $6,655,000 after purchasing an additional 7,997 shares during the period. Finally, Perpetual Ltd lifted its position in American International Group by 3.2% in the second quarter. Perpetual Ltd now owns 449,661 shares of the insurance provider’s stock valued at $38,486,000 after purchasing an additional 14,137 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Stock Performance

Shares of AIG stock opened at $78.92 on Tuesday. The stock has a fifty day moving average price of $79.49 and a 200 day moving average price of $81.28. The stock has a market cap of $43.72 billion, a PE ratio of 14.95, a P/E/G ratio of 0.77 and a beta of 0.68. American International Group, Inc. has a 1 year low of $69.24 and a 1 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.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.21. The firm had revenue of $6.77 billion during the quarter, compared to analysts’ expectations 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 posted $1.16 earnings per share. Sell-side analysts forecast 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 disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.80 annualized dividend and a yield of 2.3%. American International Group’s payout ratio is currently 34.09%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AIG shares. William Blair upgraded shares of American International Group to a “strong-buy” rating in a research report on Friday, August 1st. JPMorgan Chase & Co. raised their price objective on shares of American International Group from $95.00 to $97.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Weiss Ratings restated a “buy (b)” rating on shares of American International Group in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods reduced their price objective on shares of 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. Finally, Evercore ISI raised their price objective on shares of American International Group from $89.00 to $90.00 and gave the company an “in-line” rating in a research report on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.81.

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.