Centennial Bank AR Sells 211 Shares of American International Group, Inc. (NYSE:AIG)

Centennial Bank AR lessened its position in shares of American International Group, Inc. (NYSE:AIG) by 1.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 16,736 shares of the insurance provider’s stock after selling 211 shares during the quarter. Centennial Bank AR’s holdings in American International Group were worth $1,242,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cetera Investment Advisers grew its position in shares of American International Group by 348.6% during the 1st quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock worth $4,506,000 after buying an additional 44,797 shares during the period. Vinva Investment Management Ltd bought a new stake in shares of American International Group during the 4th quarter worth $1,699,000. OFI Invest Asset Management raised its stake in American International Group by 2,208.3% in the 2nd quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock valued at $710,000 after acquiring an additional 9,805 shares during the period. Bessemer Group Inc. raised its stake in American International Group by 64.3% in the 1st quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider’s stock valued at $2,227,000 after acquiring an additional 11,149 shares during the period. Finally, Coronation Fund Managers Ltd. bought a new stake in American International Group in the 1st quarter valued at about $1,367,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

Insider Transactions at American International Group

In other news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the sale, the insider now directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.61% of the company’s stock.

American International Group Price Performance

Shares of AIG stock opened at $72.72 on Wednesday. The stock has a market cap of $48.26 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 3.70 and a beta of 1.06. The business’s fifty day moving average is $74.01 and its 200 day moving average is $75.59. American International Group, Inc. has a twelve month low of $57.72 and a twelve month high of $80.83. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22.

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 the consensus estimate 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 during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the company earned $1.75 earnings per share. American International Group’s revenue for the quarter was up .0% on a year-over-year basis. Research analysts expect that American International Group, Inc. will post 5.24 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.20%. American International Group’s dividend payout ratio is currently 23.88%.

Wall Street Analysts Forecast Growth

AIG has been the topic of a number of research reports. Royal Bank of Canada restated an “outperform” rating and issued a $87.00 price objective on shares of American International Group in a research note on Tuesday, July 9th. Citigroup cut their price objective on American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods cut their price objective on American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, August 12th. JPMorgan Chase & Co. boosted their target price on American International Group from $80.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Finally, Piper Sandler dropped their target price on American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.