Oppenheimer & Co. Inc. Reduces Position in American International Group, Inc. (NYSE:AIG)

Oppenheimer & Co. Inc. cut its position in shares of American International Group, Inc. (NYSE:AIG) by 1.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,760 shares of the insurance provider’s stock after selling 500 shares during the period. Oppenheimer & Co. Inc.’s holdings in American International Group were worth $2,803,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. TCW Group Inc. purchased a new position in shares of American International Group during the 4th quarter worth about $724,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of American International Group during the 4th quarter worth about $948,000. Cetera Investment Advisers boosted its stake in shares of American International Group by 348.6% during the 1st quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock worth $4,506,000 after purchasing an additional 44,797 shares during the period. Vinva Investment Management Ltd bought a new stake in American International Group during the 4th quarter valued at about $1,699,000. Finally, OFI Invest Asset Management lifted its holdings in American International Group by 2,208.3% during the 2nd quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock valued at $710,000 after buying an additional 9,805 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Piper Sandler decreased their price objective on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. StockNews.com lowered shares of American International Group from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Keefe, Bruyette & Woods decreased 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 report on Monday, August 12th. Wells Fargo & Company decreased their price objective on shares of American International Group from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Finally, Morgan Stanley decreased their price objective 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $83.88.

Insiders Place Their Bets

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

American International Group Stock Down 0.1 %

Shares of American International Group stock opened at $73.11 on Monday. The firm’s 50 day moving average price is $74.81 and its 200-day moving average price is $75.69. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 52-week low of $57.72 and a 52-week high of $80.83. The company has a market cap of $48.52 billion, a P/E ratio of 10.91, a PEG ratio of 3.60 and a beta of 1.06.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (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 firm had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the firm earned $1.75 EPS. The firm’s quarterly revenue was up .0% on a year-over-year basis. On average, sell-side analysts predict that American International Group, Inc. will post 5.24 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Monday, September 16th. American International Group’s dividend payout ratio is presently 23.88%.

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.