ING Groep NV Sells 49,631 Shares of American International Group, Inc. (NYSE:AIG)

ING Groep NV decreased its stake in shares of American International Group, Inc. (NYSE:AIG) by 60.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,456 shares of the insurance provider’s stock after selling 49,631 shares during the period. ING Groep NV’s holdings in American International Group were worth $2,377,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Diamond Hill Capital Management Inc. grew its holdings in shares of American International Group by 5.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock worth $1,002,163,000 after acquiring an additional 722,237 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of American International Group by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,435,245 shares of the insurance provider’s stock valued at $477,802,000 after purchasing an additional 269,188 shares during the period. Clearbridge Investments LLC boosted its position in shares of American International Group by 0.6% during the first quarter. Clearbridge Investments LLC now owns 5,440,355 shares of the insurance provider’s stock valued at $425,273,000 after purchasing an additional 31,340 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in American International Group by 6.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,148,482 shares of the insurance provider’s stock worth $233,743,000 after purchasing an additional 198,889 shares during the period. Finally, APG Asset Management N.V. raised its holdings in American International Group by 13.3% in the second quarter. APG Asset Management N.V. now owns 2,200,252 shares of the insurance provider’s stock worth $152,411,000 after purchasing an additional 258,700 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Trading Up 0.0 %

Shares of AIG stock opened at $75.77 on Friday. The stock has a market capitalization of $47.26 billion, a P/E ratio of -22.35, a P/E/G ratio of 7.53 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. The firm’s 50 day moving average is $75.20 and its 200 day moving average is $75.68. American International Group, Inc. has a 12-month low of $63.57 and a 12-month high of $80.83.

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

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Monday, December 16th. American International Group’s payout ratio is -47.20%.

Insider Activity at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the transaction, the insider now directly owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. The trade was a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on AIG. TD Cowen dropped their target price on shares of American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Wells Fargo & Company dropped their price objective on shares of American International Group from $77.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 6th. Piper Sandler decreased their target price on shares of 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. StockNews.com raised American International Group from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Jefferies Financial Group raised their price objective on American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.13.

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.