Mutual of America Capital Management LLC Has $6.21 Million Stake in American International Group, Inc. (NYSE:AIG)

Mutual of America Capital Management LLC decreased its stake in shares of American International Group, Inc. (NYSE:AIG) by 9.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 83,695 shares of the insurance provider’s stock after selling 8,350 shares during the period. Mutual of America Capital Management LLC’s holdings in American International Group were worth $6,214,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in AIG. Avantax Advisory Services Inc. increased its holdings in shares of American International Group by 23.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,941 shares of the insurance provider’s stock valued at $403,000 after acquiring an additional 1,122 shares during the last quarter. TCW Group Inc. acquired a new stake in American International Group in the 4th quarter valued at approximately $724,000. Team Hewins LLC acquired a new stake in American International Group in the 4th quarter valued at approximately $242,000. Skopos Labs Inc. acquired a new stake in American International Group in the 4th quarter valued at approximately $329,000. Finally, Johnson Financial Group Inc. grew its holdings in American International Group by 117.5% in the 4th quarter. Johnson Financial Group Inc. now owns 3,262 shares of the insurance provider’s stock valued at $221,000 after buying an additional 1,762 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Price Performance

American International Group stock opened at $73.76 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market capitalization of $48.95 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 3.60 and a beta of 1.06. American International Group, Inc. has a one year low of $57.72 and a one year high of $80.83. The business has a 50 day simple moving average of $74.55 and a 200 day simple moving average of $75.67.

American International Group (NYSE:AIG) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.14). The company had revenue of $1.00 million for the quarter, compared to the consensus estimate of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. American International Group’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter last year, the business earned $1.75 EPS. On average, sell-side analysts forecast 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 given a $0.40 dividend. 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 American International Group news, major shareholder International Group American sold 8,032,129 shares of American International Group stock in a transaction on 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 transaction, the insider now owns 284,238,898 shares in the company, valued at approximately $7,077,548,560.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 14,964,738 shares of company stock worth $400,732,195. 0.61% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AIG. Morgan Stanley lowered 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. JPMorgan Chase & Co. raised 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. Piper Sandler lowered their target price on American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Evercore ISI decreased their price objective on American International Group from $81.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, June 27th. Finally, Citigroup decreased their price objective on American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, July 23rd. One research 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 stock has an average rating of “Hold” and an average 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.