Summit Trail Advisors LLC Has $766,000 Position in American International Group, Inc. (NYSE:AIG)

Summit Trail Advisors LLC trimmed its position in shares of American International Group, Inc. (NYSE:AIG) by 4.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,324 shares of the insurance provider’s stock after selling 514 shares during the quarter. Summit Trail Advisors LLC’s holdings in American International Group were worth $766,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Y.D. More Investments Ltd acquired a new stake in American International Group during the 2nd quarter worth approximately $27,000. Fortitude Family Office LLC raised its stake in shares of American International Group by 199.2% during 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 last quarter. Valued Wealth Advisors LLC lifted its holdings in shares of American International Group by 303.3% during the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 276 shares during the period. Rise Advisors LLC bought a new stake in shares of American International Group in the first quarter worth $29,000. Finally, Versant Capital Management Inc grew its stake in shares of American International Group by 326.0% in the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 339 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Morgan Stanley cut their target price on American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. TD Cowen cut their price objective on American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. JPMorgan Chase & Co. increased their target price on shares of American International Group from $80.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Keefe, Bruyette & Woods dropped their price target on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. Finally, Piper Sandler reduced their price objective on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $83.88.

American International Group Stock Performance

Shares of AIG opened at $73.76 on Monday. American International Group, Inc. has a one year low of $57.72 and a one year high of $80.83. The company has a market cap of $48.95 billion, a PE ratio of 11.01, a P/E/G ratio of 3.60 and a beta of 1.06. The stock has a 50-day moving average of $74.55 and a 200-day moving average of $75.69. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates 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 period last year, the business posted $1.75 EPS. The company’s revenue was up .0% on a year-over-year basis. On average, equities research analysts predict that American International Group, Inc. will post 5.24 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently disclosed 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 of this dividend is Monday, September 16th. This represents a $1.60 annualized dividend and a yield of 2.17%. American International Group’s payout ratio is 23.88%.

Insider Buying and Selling at American International Group

In other news, major shareholder International Group American sold 8,032,129 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 284,238,898 shares of the company’s stock, valued at $7,077,548,560.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 14,964,738 shares of company stock valued at $400,732,195. Corporate 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.