Panagora Asset Management Inc. Sells 3,821 Shares of American International Group, Inc. (NYSE:AIG)

Panagora Asset Management Inc. lessened its stake in American International Group, Inc. (NYSE:AIG) by 34.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,264 shares of the insurance provider’s stock after selling 3,821 shares during the period. Panagora Asset Management Inc.’s holdings in American International Group were worth $539,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in AIG. Fortitude Family Office LLC boosted its holdings in shares of American International Group by 199.2% in the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after buying an additional 239 shares during the last quarter. Rise Advisors LLC purchased a new position in shares of American International Group during the 1st quarter worth $29,000. Valued Wealth Advisors LLC increased its stake in shares of American International Group by 303.3% in the 1st quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 276 shares in the last quarter. Versant Capital Management Inc raised its holdings in American International Group by 326.0% in the 2nd quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 339 shares during the period. Finally, CENTRAL TRUST Co lifted its position in American International Group by 123.8% during the first quarter. CENTRAL TRUST Co now owns 452 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 250 shares in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder International Group American sold 1,932,609 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the transaction, the insider now directly owns 292,271,027 shares in the company, valued at approximately $8,534,313,988.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

American International Group Stock Down 1.3 %

Shares of NYSE:AIG opened at $76.03 on Wednesday. The company has a market cap of $48.96 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 3.84 and a beta of 1.07. American International Group, Inc. has a 12 month low of $57.72 and a 12 month high of $80.83. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $75.04 and a 200 day moving average price of $75.54.

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

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Monday, September 16th. American International Group’s dividend payout ratio (DPR) is 23.88%.

Wall Street Analyst Weigh In

Several research firms have recently commented on AIG. Keefe, Bruyette & Woods decreased their price objective on American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. Wells Fargo & Company dropped their price target on shares of American International Group from $79.00 to $77.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Piper Sandler decreased their price objective on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Morgan Stanley dropped their target price on shares of American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Finally, StockNews.com cut American International Group from a “hold” rating to a “sell” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $83.47.

About American International Group

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.