Czech National Bank reduced its stake in shares of American International Group, Inc. (NYSE:AIG – Free Report) by 2.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,678 shares of the insurance provider’s stock after selling 1,831 shares during the period. Czech National Bank’s holdings in American International Group were worth $4,930,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of AIG. Thompson Investment Management Inc. purchased a new stake in shares of American International Group in the first quarter valued at $28,000. Avalon Trust Co purchased a new position in American International Group in the 1st quarter valued at about $28,000. Creative Capital Management Investments LLC acquired a new stake in shares of American International Group during the 1st quarter worth about $43,000. Parkside Financial Bank & Trust grew its holdings in shares of American International Group by 20.9% during the first quarter. Parkside Financial Bank & Trust now owns 1,110 shares of the insurance provider’s stock worth $69,000 after buying an additional 192 shares in the last quarter. Finally, Fairfield Bush & CO. purchased a new position in shares of American International Group during the first quarter valued at approximately $84,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.
Insider Buying and Selling
In related news, CAO Kathleen Carbone sold 7,757 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $61.30, for a total transaction of $475,504.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, major shareholder International Group American sold 10,981,108 shares of the stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $16.41, for a total value of $180,199,982.28. Following the transaction, the insider now directly owns 415,413,892 shares in the company, valued at $6,816,941,967.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Kathleen Carbone sold 7,757 shares of the firm’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 10,989,500 shares of company stock worth $180,709,440 in the last 90 days. 0.49% of the stock is owned by company insiders.
American International Group Stock Down 0.0 %
American International Group (NYSE:AIG – Get Free Report) last announced its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.21. American International Group had a net margin of 8.94% and a return on equity of 9.28%. The business had revenue of $13.22 billion during the quarter, compared to analyst estimates of $12.28 billion. During the same quarter in the prior year, the business earned $1.19 earnings per share. As a group, research analysts predict that American International Group, Inc. will post 6.73 EPS for the current year.
American International Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.35%. The ex-dividend date is Thursday, September 14th. American International Group’s dividend payout ratio (DPR) is presently 24.37%.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the company. StockNews.com started coverage on American International Group in a report on Thursday, August 17th. They issued a “hold” rating for the company. TheStreet raised American International Group from a “c+” rating to a “b-” rating in a research report on Friday, June 23rd. BMO Capital Markets lowered their price target on shares of American International Group from $65.00 to $63.00 and set a “market perform” rating for the company in a report on Thursday, August 24th. Barclays lifted their price objective on American International Group from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Friday, August 4th. Finally, Piper Sandler boosted their target price on shares of American International Group from $76.00 to $77.00 in a research report on Tuesday, May 23rd. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $68.00.
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 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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