Cornerstone Advisors LLC Has $974,000 Holdings in American International Group, Inc. $AIG

Cornerstone Advisors LLC cut its stake in American International Group, Inc. (NYSE:AIG) by 47.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,400 shares of the insurance provider’s stock after selling 11,300 shares during the period. Cornerstone Advisors LLC’s holdings in American International Group were worth $974,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AIG. Westfuller Advisors LLC acquired a new position in shares of American International Group during the third quarter valued at about $26,000. Atlantic Union Bankshares Corp increased its stake in American International Group by 7,100.0% during the third quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 355 shares during the period. Eastern Bank raised its holdings in American International Group by 2,473.3% in the 3rd quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 371 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in shares of American International Group in the 2nd quarter worth approximately $32,000. Finally, Motco lifted its position in shares of American International Group by 950.0% in the 3rd quarter. Motco now owns 420 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 380 shares during the period. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

NYSE AIG opened at $79.45 on Friday. American International Group, Inc. has a 1-year low of $71.25 and a 1-year high of $88.07. The company has a 50 day moving average of $78.89 and a 200-day moving average of $78.87. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. The firm has a market cap of $42.63 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 0.61 and a beta of 0.61.

American International Group (NYSE:AIG) last released its quarterly earnings results on Tuesday, February 10th. The insurance provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.06. American International Group had a return on equity of 9.79% and a net margin of 11.56%.The business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.99 billion. During the same period in the prior year, the company earned $1.30 EPS. On average, equities analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be paid a $0.45 dividend. The ex-dividend date is Monday, March 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. American International Group’s dividend payout ratio (DPR) is 33.21%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AIG shares. Wells Fargo & Company boosted their price objective on American International Group from $85.00 to $87.00 and gave the company an “equal weight” rating in a research report on Friday, February 13th. The Goldman Sachs Group raised their price objective on shares of American International Group from $81.00 to $83.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Barclays decreased their target price on shares of American International Group from $81.00 to $79.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 11th. Bank of America dropped their price target on shares of American International Group from $89.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, January 16th. Finally, Jefferies Financial Group raised their price target on shares of American International Group from $96.00 to $101.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, American International Group presently has an average rating of “Hold” and a consensus target price of $87.58.

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.