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

ING Groep NV trimmed its position in shares of American International Group, Inc. (NYSE:AIG) by 60.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AIG. Diamond Hill Capital Management Inc. raised its holdings in American International Group by 5.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock valued at $1,002,163,000 after acquiring an additional 722,237 shares during the period. Dimensional Fund Advisors LP raised its stake in American International Group by 4.4% during 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 lifted its holdings in American International Group by 0.6% in the 1st quarter. Clearbridge Investments LLC now owns 5,440,355 shares of the insurance provider’s stock worth $425,273,000 after purchasing an additional 31,340 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in American International Group by 6.7% in the 2nd 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. grew its holdings in American International Group by 13.3% during the 2nd quarter. APG Asset Management N.V. now owns 2,200,252 shares of the insurance provider’s stock valued at $152,411,000 after buying an additional 258,700 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insider Activity

In other news, major shareholder International Group American sold 5,000,000 shares of the 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 owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This represents a 1.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AIG shares. BMO Capital Markets lowered shares of American International Group from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $90.00 to $84.00 in a research report on Tuesday, October 15th. Barclays assumed coverage on American International Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price objective for the company. Piper Sandler decreased their target price on American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Royal Bank of Canada restated an “outperform” rating and set a $87.00 price target on shares of American International Group in a report on Wednesday, November 6th. Finally, StockNews.com raised American International Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $84.13.

American International Group Trading Up 0.0 %

AIG stock opened at $75.77 on Friday. The stock has a market capitalization of $47.26 billion, a price-to-earnings ratio of -22.35, a price-to-earnings-growth ratio of 7.53 and a beta of 1.05. American International Group, Inc. has a twelve month low of $63.57 and a twelve month high of $80.83. The firm’s fifty day simple moving average is $75.20 and its two-hundred day simple moving average is $75.68. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last released its 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. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. The firm had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the prior year, the firm posted $1.61 earnings per share. As a group, analysts anticipate that American International Group, Inc. will post 5.13 earnings per share for the current year.

American International Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be given a dividend of $0.40 per share. 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 dividend payout ratio (DPR) is presently -47.20%.

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.