American International Group, Inc. (NYSE:AIG) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. reduced its position in shares of American International Group, Inc. (NYSE:AIG) by 9.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,637 shares of the insurance provider’s stock after selling 174 shares during the period. Brown Brothers Harriman & Co.’s holdings in American International Group were worth $122,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Fortitude Family Office LLC lifted its holdings in American International Group by 199.2% in the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 239 shares during the period. Y.D. More Investments Ltd purchased a new position in American International Group in the second quarter valued at about $27,000. Rise Advisors LLC acquired a new stake in shares of American International Group during the 1st quarter valued at approximately $29,000. Valued Wealth Advisors LLC boosted its stake in shares of American International Group by 303.3% during the 1st quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 276 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of 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 acquiring an additional 339 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Price Performance

Shares of American International Group stock opened at $73.27 on Thursday. The stock has a market capitalization of $48.63 billion, a P/E ratio of 10.94, a PEG ratio of 3.60 and a beta of 1.06. 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 business’s fifty day moving average price is $74.68 and its 200 day moving average price is $75.68. American International Group, Inc. has a twelve month low of $57.72 and a twelve month high of $80.83.

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 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 for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the previous year, the firm posted $1.75 EPS. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, research analysts anticipate that American International Group, Inc. will post 5.24 earnings per share for the current year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Monday, September 16th. American International Group’s dividend payout ratio is presently 23.88%.

Insider Activity at American International Group

In related news, major shareholder International Group American sold 1,932,609 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total value of $56,432,182.80. Following the completion of the sale, 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 SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 14,964,738 shares of company stock worth $400,732,195. 0.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AIG. Piper Sandler reduced their price objective on American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on American International Group from $80.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $87.00 target price on shares of American International Group in a research note on Tuesday, July 9th. Evercore ISI decreased their price target on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday, June 27th. Finally, Morgan Stanley cut 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 research report on Wednesday, July 10th. One 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 MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $83.88.

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.