Transcend Capital Advisors LLC Cuts Stock Position in American International Group, Inc. $AIG

Transcend Capital Advisors LLC cut its stake in shares of American International Group, Inc. (NYSE:AIG) by 11.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,119 shares of the insurance provider’s stock after selling 818 shares during the quarter. Transcend Capital Advisors LLC’s holdings in American International Group were worth $524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of AIG. Sachetta LLC boosted its holdings in American International Group by 194.5% during the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 249 shares during the period. GFG Capital LLC purchased a new stake in American International Group in the 2nd quarter worth approximately $33,000. Barrett & Company Inc. purchased a new stake in American International Group in the 2nd quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd purchased a new stake in American International Group in the 2nd quarter worth approximately $40,000. Finally, Hemington Wealth Management lifted its holdings in American International Group by 42.8% in the 1st quarter. Hemington Wealth Management now owns 474 shares of the insurance provider’s stock worth $41,000 after buying an additional 142 shares during the period. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Stock Down 1.1%

Shares of NYSE:AIG opened at $78.41 on Wednesday. American International Group, Inc. has a 52-week low of $69.24 and a 52-week high of $88.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market capitalization of $43.44 billion, a P/E ratio of 14.85, a P/E/G ratio of 0.78 and a beta of 0.68. The stock has a 50 day moving average price of $79.83 and a 200-day moving average price of $81.37.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.21. American International Group had a return on equity of 7.88% and a net margin of 11.51%.The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same quarter last year, the company earned $1.16 EPS. As a group, equities research analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 16th. American International Group’s dividend payout ratio (DPR) is 34.09%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Citigroup assumed coverage on American International Group in a report on Wednesday, August 13th. They issued a “neutral” rating and a $85.00 price objective for the company. Evercore ISI increased their price objective on American International Group from $89.00 to $90.00 and gave the stock an “in-line” rating in a report on Wednesday, October 1st. The Goldman Sachs Group increased their price objective on American International Group from $85.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Morgan Stanley dropped their price objective on American International Group from $85.00 to $84.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. Finally, Piper Sandler dropped their price objective on American International Group from $96.00 to $88.00 and set an “overweight” rating for the company in a report on Thursday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $89.81.

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.