Amalgamated Bank Sells 11,126 Shares of American International Group, Inc. (NYSE:AIG)

Amalgamated Bank reduced its position in American International Group, Inc. (NYSE:AIG) by 7.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 134,654 shares of the insurance provider’s stock after selling 11,126 shares during the period. Amalgamated Bank’s holdings in American International Group were worth $9,997,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Avantax Advisory Services Inc. raised its position in shares of American International Group by 23.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 5,941 shares of the insurance provider’s stock valued at $403,000 after purchasing an additional 1,122 shares during the period. Independent Advisor Alliance raised its holdings in American International Group by 11.2% during the 4th quarter. Independent Advisor Alliance now owns 6,806 shares of the insurance provider’s stock valued at $461,000 after acquiring an additional 686 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of American International Group during the fourth quarter worth $948,000. Coldstream Capital Management Inc. boosted its holdings in shares of American International Group by 20.1% in the fourth quarter. Coldstream Capital Management Inc. now owns 9,675 shares of the insurance provider’s stock worth $655,000 after acquiring an additional 1,617 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of American International Group in the fourth quarter valued at $923,000. 90.60% of the stock is currently owned by institutional investors.

American International Group Stock Down 0.4 %

AIG opened at $73.27 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22. The business’s fifty day simple moving average is $74.68 and its 200 day simple moving average is $75.68. American International Group, Inc. has a 52 week low of $57.72 and a 52 week high of $80.83. The stock has a market cap of $48.63 billion, a PE ratio of 10.94, a P/E/G ratio of 3.60 and a beta of 1.06.

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

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.18%. American International Group’s payout ratio is 23.88%.

Insider Activity

In related news, major shareholder International Group American sold 1,932,609 shares of American International Group stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total value of $56,432,182.80. Following the transaction, the insider now owns 292,271,027 shares in the company, valued at approximately $8,534,313,988.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 14,964,738 shares of company stock valued at $400,732,195. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

AIG has been the topic of a number of recent research reports. Bank of America increased their price objective on American International Group from $81.00 to $82.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Citigroup lowered their price target on shares of American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, July 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $87.00 price objective on shares of American International Group in a research note on Tuesday, July 9th. Barclays started coverage on shares of American International Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 target price on the stock. Finally, Keefe, Bruyette & Woods cut their price target 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $83.88.

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.