Cerity Partners LLC Sells 39,204 Shares of American International Group, Inc. $AIG

Cerity Partners LLC trimmed its holdings in shares of American International Group, Inc. (NYSE:AIG) by 18.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 176,389 shares of the insurance provider’s stock after selling 39,204 shares during the period. Cerity Partners LLC’s holdings in American International Group were worth $13,854,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of AIG. Twin Peaks Wealth Advisors LLC acquired a new position in shares of American International Group during the 2nd quarter valued at $32,000. GFG Capital LLC bought a new stake in American International Group in the second quarter valued at $33,000. Motco raised its holdings in shares of American International Group by 950.0% during the third quarter. Motco now owns 420 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 380 shares during the period. Barrett & Company Inc. bought a new position in shares of American International Group during the 2nd quarter worth about $35,000. Finally, NewSquare Capital LLC grew its stake in shares of American International Group by 58.6% in the 2nd quarter. NewSquare Capital LLC now owns 417 shares of the insurance provider’s stock valued at $36,000 after buying an additional 154 shares during the period. Institutional investors own 90.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on AIG shares. Bank of America increased their price target on American International Group from $88.00 to $94.00 and gave the stock a “neutral” rating in a report on Monday, October 13th. Piper Sandler upped their target price on American International Group from $88.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, December 22nd. Royal Bank Of Canada initiated coverage on shares of American International Group in a research report on Tuesday, November 25th. They issued a “sector perform” rating and a $85.00 price target for the company. Keefe, Bruyette & Woods boosted their price target on shares of American International Group from $91.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Finally, Jefferies Financial Group raised their price objective on shares of American International Group from $96.00 to $101.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $89.17.

American International Group Stock Performance

Shares of AIG stock opened at $75.50 on Friday. The firm’s 50 day moving average is $80.09 and its 200 day moving average is $80.17. The stock has a market capitalization of $40.74 billion, a P/E ratio of 13.73, a PEG ratio of 0.72 and a beta of 0.62. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 12 month low of $69.24 and a 12 month high of $88.07.

American International Group (NYSE:AIG) last posted its earnings results on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.63. American International Group had a return on equity of 9.09% and a net margin of 11.89%.The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the previous year, the firm earned $1.23 EPS. On average, sell-side analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, December 16th. American International Group’s payout ratio is currently 32.73%.

About American International Group

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.