US Bancorp DE Sells 36,982 Shares of American International Group, Inc. $AIG

US Bancorp DE reduced its position in shares of American International Group, Inc. (NYSE:AIG) by 22.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 130,703 shares of the insurance provider’s stock after selling 36,982 shares during the quarter. US Bancorp DE’s holdings in American International Group were worth $11,187,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. GQG Partners LLC raised its holdings in American International Group by 33,315.0% in the 1st quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider’s stock worth $1,643,995,000 after acquiring an additional 18,852,949 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of American International Group by 20.4% during the first quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider’s stock valued at $974,840,000 after purchasing an additional 1,901,998 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of American International Group by 22.8% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 9,113,636 shares of the insurance provider’s stock valued at $792,340,000 after purchasing an additional 1,694,290 shares in the last quarter. Nuveen LLC bought a new position in shares of American International Group during the first quarter valued at $440,273,000. Finally, AQR Capital Management LLC lifted its holdings in shares of American International Group by 184.4% during the first quarter. AQR Capital Management LLC now owns 3,335,040 shares of the insurance provider’s stock valued at $287,214,000 after purchasing an additional 2,162,545 shares in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Trading Down 2.2%

AIG stock opened at $81.34 on Friday. American International Group, Inc. has a 1-year low of $69.24 and a 1-year high of $88.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market capitalization of $45.06 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 0.86 and a beta of 0.68. The business has a 50 day simple moving average of $79.80 and a two-hundred day simple moving average of $81.66.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.21. The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.81 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same period in the prior year, the company posted $1.16 EPS. Research analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, September 16th. American International Group’s payout ratio is 34.09%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wall Street Zen raised shares of American International Group from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Piper Sandler reduced their price objective on American International Group from $96.00 to $88.00 and set an “overweight” rating for the company in a research report on Thursday, October 2nd. Citigroup started coverage on shares of American International Group in a research note on Wednesday, August 13th. They issued a “neutral” rating and a $85.00 price objective on the stock. UBS Group boosted their price target on American International Group from $90.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Cantor Fitzgerald raised shares of American International Group to a “hold” rating in a report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, American International Group presently has a consensus rating of “Moderate Buy” and an average price target of $89.53.

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.