Bank of New York Mellon Corp Reduces Stake in American International Group, Inc. $AIG

Bank of New York Mellon Corp reduced its stake in American International Group, Inc. (NYSE:AIG) by 2.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 10,941,338 shares of the insurance provider’s stock after selling 271,450 shares during the period. Bank of New York Mellon Corp’s holdings in American International Group were worth $936,469,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AIG. Brighton Jones LLC purchased a new stake in American International Group in the 4th quarter valued at $1,091,000. DAVENPORT & Co LLC lifted its stake in shares of American International Group by 4.2% in the 1st quarter. DAVENPORT & Co LLC now owns 8,060 shares of the insurance provider’s stock valued at $701,000 after purchasing an additional 328 shares during the last quarter. Mutual Advisors LLC acquired a new position in shares of American International Group in the 1st quarter valued at $249,000. OneDigital Investment Advisors LLC lifted its stake in shares of American International Group by 78.0% in the 1st quarter. OneDigital Investment Advisors LLC now owns 5,609 shares of the insurance provider’s stock valued at $488,000 after purchasing an additional 2,458 shares during the last quarter. Finally, World Investment Advisors lifted its stake in shares of American International Group by 61.0% in the 1st quarter. World Investment Advisors now owns 9,315 shares of the insurance provider’s stock valued at $810,000 after purchasing an additional 3,528 shares during the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Price Performance

Shares of NYSE AIG opened at $79.02 on Monday. The stock’s 50-day moving average is $79.56 and its two-hundred day moving average is $81.30. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63. American International Group, Inc. has a 1-year low of $69.24 and a 1-year high of $88.07. The company has a market cap of $43.78 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 0.77 and a beta of 0.68.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.21. American International Group had a return on equity of 7.88% and a net margin of 11.51%.The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the prior year, the business earned $1.16 EPS. Analysts forecast that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a dividend of $0.45 per share. The ex-dividend date was Tuesday, September 16th. This represents a $1.80 annualized dividend and a yield of 2.3%. American International Group’s dividend payout ratio is 34.09%.

Wall Street Analysts Forecast Growth

AIG has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price target on American International Group from $95.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Piper Sandler decreased their price target on American International Group from $96.00 to $88.00 and set an “overweight” rating on the stock in a research note on Thursday, October 2nd. William Blair raised American International Group to a “strong-buy” rating in a research note on Friday, August 1st. Morgan Stanley decreased their price target on American International Group from $85.00 to $84.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Finally, Wall Street Zen raised American International Group from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.81.

American International Group Company 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.