Elo Mutual Pension Insurance Co Sells 7,269 Shares of American International Group, Inc. (NYSE:AIG)

Elo Mutual Pension Insurance Co cut its holdings in shares of American International Group, Inc. (NYSE:AIG) by 11.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,878 shares of the insurance provider’s stock after selling 7,269 shares during the period. Elo Mutual Pension Insurance Co’s holdings in American International Group were worth $4,223,000 at the end of the most recent quarter.

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

American International Group Stock Performance

Shares of American International Group stock opened at $73.27 on Thursday. 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 has a 50-day moving average price of $74.68 and a two-hundred day moving average price of $75.68. American International Group, Inc. has a 1-year low of $57.72 and a 1-year high of $80.83. The company has a market cap of $48.63 billion, a P/E ratio of 10.94, a PEG ratio of 3.60 and a beta of 1.06.

American International Group (NYSE:AIG) last issued its quarterly earnings results 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). American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The business had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.64 billion. During the same quarter in the previous year, the business posted $1.75 earnings per share. The business’s revenue was up .0% on a year-over-year basis. As a group, analysts anticipate that American International Group, Inc. will post 5.24 EPS for the current year.

American International Group Dividend Announcement

The firm 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 dividend of $0.40 per share. The ex-dividend date is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.18%. American International Group’s payout ratio is currently 23.88%.

Analyst Ratings Changes

A number of brokerages have recently commented on AIG. Morgan Stanley dropped their price target on American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Barclays began coverage on American International Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 price target for the company. Bank of America increased their price target on American International Group from $81.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. StockNews.com cut American International Group from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. Finally, Piper Sandler dropped their price target on 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $83.88.

Insiders Place Their Bets

In other news, major shareholder International Group American sold 8,032,129 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total value of $200,000,012.10. Following the completion of the sale, the insider now directly owns 284,238,898 shares in the company, valued at approximately $7,077,548,560.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders sold 14,964,738 shares of company stock worth $400,732,195. Company insiders own 0.61% of the company’s stock.

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.