Highland Capital Management LLC Sells 3,940 Shares of American International Group, Inc. (NYSE:AIG)

Highland Capital Management LLC reduced its position in American International Group, Inc. (NYSE:AIG) by 5.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 71,611 shares of the insurance provider’s stock after selling 3,940 shares during the quarter. Highland Capital Management LLC’s holdings in American International Group were worth $5,244,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AIG. Forum Financial Management LP lifted its holdings in American International Group by 1.1% during the 2nd quarter. Forum Financial Management LP now owns 12,173 shares of the insurance provider’s stock worth $904,000 after buying an additional 128 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of American International Group by 5.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,691 shares of the insurance provider’s stock valued at $210,000 after acquiring an additional 136 shares during the period. Quent Capital LLC increased its position in American International Group by 4.0% in the second quarter. Quent Capital LLC now owns 3,834 shares of the insurance provider’s stock worth $285,000 after purchasing an additional 146 shares during the period. New Republic Capital LLC increased its position in American International Group by 5.2% in the first quarter. New Republic Capital LLC now owns 3,290 shares of the insurance provider’s stock worth $257,000 after purchasing an additional 164 shares during the period. Finally, Avantax Advisory Services Inc. lifted its position in American International Group by 2.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 6,106 shares of the insurance provider’s stock valued at $477,000 after purchasing an additional 165 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Bank of America increased their price objective on shares of American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Evercore ISI decreased their price objective on American International Group from $79.00 to $78.00 and set an “in-line” rating for the company in a research note on Wednesday, October 9th. Piper Sandler cut their target price on American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. UBS Group upped their price target on American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company reduced their price objective on shares of American International Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $84.38.

American International Group Trading Down 1.1 %

American International Group stock opened at $76.81 on Friday. The firm has a 50-day moving average of $74.83 and a 200-day moving average of $75.51. American International Group, Inc. has a one year low of $59.12 and a one year high of $80.83. 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 cap of $50.98 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 3.88 and a beta of 1.06.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.75 EPS. On average, equities analysts expect that American International Group, Inc. will post 5.09 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Monday, September 16th. American International Group’s payout ratio is currently 23.88%.

Insiders Place Their Bets

In other news, major shareholder International Group American sold 8,032,129 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 284,238,898 shares of the company’s stock, valued at $7,077,548,560.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.61% of the company’s stock.

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.