Federated Hermes Inc. Sells 3,286 Shares of American International Group, Inc. (NYSE:AIG)

Federated Hermes Inc. decreased its holdings in shares of American International Group, Inc. (NYSE:AIG) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 146,901 shares of the insurance provider’s stock after selling 3,286 shares during the period. Federated Hermes Inc.’s holdings in American International Group were worth $10,906,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Meeder Advisory Services Inc. raised its position in shares of American International Group by 32.2% during the 2nd quarter. Meeder Advisory Services Inc. now owns 19,479 shares of the insurance provider’s stock valued at $1,446,000 after acquiring an additional 4,746 shares during the last quarter. Cornercap Investment Counsel Inc. bought a new stake in shares of American International Group in the 2nd quarter valued at $927,000. Achmea Investment Management B.V. increased its position in shares of American International Group by 115.7% in the 2nd quarter. Achmea Investment Management B.V. now owns 153,679 shares of the insurance provider’s stock valued at $11,409,000 after buying an additional 82,434 shares in the last quarter. Y.D. More Investments Ltd bought a new stake in shares of American International Group in the 2nd quarter valued at $27,000. Finally, American Century Companies Inc. increased its position in shares of American International Group by 13.2% in the 2nd quarter. American Century Companies Inc. now owns 620,190 shares of the insurance provider’s stock valued at $46,043,000 after buying an additional 72,474 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Barclays assumed coverage on shares of American International Group in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 price objective for the company. Piper Sandler reduced their target price on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Bank of America upped their target price on shares of American International Group from $81.00 to $82.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. TD Cowen reduced their target price on shares of American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. upped their target price on shares of American International Group from $80.00 to $93.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $83.88.

American International Group Trading Up 0.4 %

Shares of NYSE:AIG opened at $73.00 on Tuesday. 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 capitalization of $48.45 billion, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 3.60 and a beta of 1.06. The company has a 50-day simple moving average of $74.77 and a 200 day simple moving average of $75.69. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67.

American International Group (NYSE:AIG) last issued its earnings results 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 firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter last year, the business posted $1.75 earnings per share. The company’s revenue for the quarter was up .0% on a year-over-year basis. Sell-side analysts forecast that American International Group, Inc. will post 5.24 earnings per share for the current 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 issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 annualized dividend and a yield of 2.19%. American International Group’s dividend payout ratio is currently 23.88%.

Insider Buying and Selling at American International Group

In other American International Group news, major shareholder International Group American sold 8,032,129 shares of the stock in a transaction dated 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 transaction, the insider now directly 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 this hyperlink. Insiders own 0.61% of the company’s stock.

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.