Assetmark Inc. Lowers Stake in American International Group, Inc. $AIG

Assetmark Inc. lessened its holdings in American International Group, Inc. (NYSE:AIG) by 27.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,732 shares of the insurance provider’s stock after selling 10,751 shares during the quarter. Assetmark Inc.’s holdings in American International Group were worth $2,178,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank purchased a new stake in shares of American International Group in the second quarter worth $787,724,000. Viking Global Investors LP bought a new position in American International Group in the 2nd quarter worth about $155,413,000. Franklin Resources Inc. boosted its stake in American International Group by 6.1% in the 2nd quarter. Franklin Resources Inc. now owns 12,536,144 shares of the insurance provider’s stock worth $1,072,969,000 after purchasing an additional 716,209 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in American International Group by 21.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,341,348 shares of the insurance provider’s stock valued at $285,986,000 after purchasing an additional 600,629 shares during the last quarter. Finally, HRT Financial LP increased its stake in American International Group by 117.8% during the 2nd quarter. HRT Financial LP now owns 1,109,634 shares of the insurance provider’s stock valued at $94,973,000 after purchasing an additional 600,061 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Trading Up 0.5%

Shares of AIG stock opened at $79.78 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61. The stock has a fifty day simple moving average of $78.95 and a two-hundred day simple moving average of $78.87. The firm has a market capitalization of $42.81 billion, a PE ratio of 14.72, a PEG ratio of 0.61 and a beta of 0.61. American International Group, Inc. has a 52-week low of $71.25 and a 52-week high of $88.07.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Tuesday, February 10th. The insurance provider reported $1.96 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $6.99 billion. During the same period in the previous year, the business earned $1.30 earnings per share. On average, analysts predict that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AIG shares. Wall Street Zen cut shares of American International Group from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Piper Sandler reduced their target price on American International Group from $95.00 to $88.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. TD Cowen boosted their price target on American International Group from $86.00 to $90.00 and gave the stock a “hold” rating in a research note on Tuesday, December 16th. The Goldman Sachs Group increased their price objective on American International Group from $81.00 to $83.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Finally, Royal Bank Of Canada began coverage on shares of American International Group in a research note on Tuesday, November 25th. They set a “sector perform” rating and a $85.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.