Quest Partners LLC Sells 1,983 Shares of American International Group, Inc. (NYSE:AIG)

Quest Partners LLC trimmed its position in American International Group, Inc. (NYSE:AIG) by 12.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 14,092 shares of the insurance provider’s stock after selling 1,983 shares during the period. Quest Partners LLC’s holdings in American International Group were worth $1,032,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of AIG. Cetera Investment Advisers raised its position in American International Group by 348.6% during the 1st quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock worth $4,506,000 after purchasing an additional 44,797 shares during the last quarter. OFI Invest Asset Management raised its position in American International Group by 2,208.3% during the 2nd quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock worth $710,000 after purchasing an additional 9,805 shares during the last quarter. Bessemer Group Inc. raised its position in American International Group by 64.3% during the 1st quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider’s stock worth $2,227,000 after purchasing an additional 11,149 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in American International Group by 8.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 142,369 shares of the insurance provider’s stock worth $11,081,000 after purchasing an additional 10,581 shares during the last quarter. Finally, Ceeto Capital Group LLC bought a new position in American International Group during the 1st quarter worth $625,000. 90.60% of the stock is currently owned by institutional investors.

American International Group Stock Down 0.8 %

American International Group stock opened at $74.66 on Thursday. The firm has a 50 day simple moving average of $75.38 and a 200 day simple moving average of $75.64. The firm has a market capitalization of $46.57 billion, a price-to-earnings ratio of -22.02, a P/E/G ratio of 7.50 and a beta of 1.05. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 1-year low of $64.47 and a 1-year high of $80.83.

American International Group (NYSE:AIG) last released its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. The firm had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. During the same period in the previous year, the business earned $1.61 EPS. On average, analysts predict that American International Group, Inc. will post 5.13 earnings per share for the current year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s dividend payout ratio is currently -47.20%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $87.00 price target on shares of American International Group in a report on Wednesday, November 6th. Piper Sandler reduced their target price on American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. TD Cowen reduced their target price on American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. BMO Capital Markets cut shares of American International Group from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $90.00 to $84.00 in a research report on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of American International Group from $88.00 to $87.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $84.13.

Insider Transactions at American International Group

In other news, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction on Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the sale, the insider now directly owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. The trade was a 1.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.61% of the stock is currently owned by insiders.

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.