Livforsakringsbolaget Skandia Omsesidigt decreased its position in American International Group, Inc. (NYSE:AIG – Free Report) by 9.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 82,388 shares of the insurance provider’s stock after selling 8,400 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in American International Group were worth $4,740,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Thompson Investment Management Inc. purchased a new stake in shares of American International Group in the 1st quarter worth $28,000. Avalon Trust Co bought a new stake in shares of American International Group in the first quarter valued at about $28,000. Creative Capital Management Investments LLC purchased a new stake in American International Group in the first quarter worth about $43,000. AM Squared Ltd bought a new position in American International Group during the 4th quarter worth about $63,000. Finally, Parkside Financial Bank & Trust increased its position in American International Group by 20.9% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,110 shares of the insurance provider’s stock valued at $69,000 after purchasing an additional 192 shares during the period. Institutional investors own 88.57% of the company’s stock.
Insider Transactions at American International Group
In related news, CAO Kathleen Carbone sold 7,757 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $61.30, for a total value of $475,504.10. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, major shareholder International Group American sold 10,981,108 shares of the business’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $16.41, for a total value of $180,199,982.28. Following the completion of the transaction, the insider now owns 415,413,892 shares of the company’s stock, valued at approximately $6,816,941,967.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Kathleen Carbone sold 7,757 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $61.30, for a total value of $475,504.10. The disclosure for this sale can be found here. Insiders sold a total of 10,989,500 shares of company stock worth $180,709,440 over the last three months. 0.49% of the stock is currently owned by insiders.
American International Group Stock Performance
American International Group (NYSE:AIG – Get Free Report) last announced its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.21. The firm had revenue of $13.22 billion for the quarter, compared to analyst estimates of $12.28 billion. American International Group had a net margin of 8.94% and a return on equity of 9.28%. During the same period in the previous year, the company earned $1.19 earnings per share. As a group, research analysts forecast that American International Group, Inc. will post 6.71 earnings per share for the current year.
American International Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Thursday, September 14th. American International Group’s dividend payout ratio is presently 24.37%.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of American International Group from $57.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, August 4th. Wells Fargo & Company increased their target price on American International Group from $61.00 to $62.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 15th. BMO Capital Markets reduced their price target on American International Group from $65.00 to $63.00 and set a “market perform” rating for the company in a research report on Thursday, August 24th. StockNews.com assumed coverage on American International Group in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Bank of America reduced their target price on shares of American International Group from $73.00 to $68.00 in a report on Friday, June 2nd. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, American International Group currently has a consensus rating of “Hold” and an average price target of $68.00.
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 General Insurance, and Life and Retirement segments. 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.
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