Ferguson Wellman Capital Management Inc. Decreases Stake in American International Group, Inc. (NYSE:AIG)

Ferguson Wellman Capital Management Inc. decreased its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 8.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 630,385 shares of the insurance provider's stock after selling 55,155 shares during the quarter. American International Group accounts for about 1.0% of Ferguson Wellman Capital Management Inc.'s investment portfolio, making the stock its 29th largest position. Ferguson Wellman Capital Management Inc. owned approximately 0.09% of American International Group worth $46,163,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Cetera Investment Advisers lifted its holdings in American International Group by 348.6% during the first quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider's stock valued at $4,506,000 after purchasing an additional 44,797 shares in the last quarter. OFI Invest Asset Management increased its position in American International Group by 2,208.3% in the second quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider's stock worth $710,000 after purchasing an additional 9,805 shares during the last quarter. Bessemer Group Inc. increased its position in American International Group by 64.3% in the first quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider's stock worth $2,227,000 after purchasing an additional 11,149 shares during the last quarter. Coronation Fund Managers Ltd. bought a new stake in American International Group in the first quarter worth $1,367,000. Finally, Illinois Municipal Retirement Fund increased its position in American International Group by 19.0% in the first quarter. Illinois Municipal Retirement Fund now owns 156,150 shares of the insurance provider's stock worth $12,206,000 after purchasing an additional 24,906 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company's stock.

Insider Transactions at American International Group

In other news, major shareholder International Group American sold 5,000,000 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the sale, the insider now owns 279,238,898 shares of the company's stock, valued at $8,058,834,596.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.61% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on AIG. Evercore ISI cut their price objective on shares of American International Group from $79.00 to $78.00 and set an "in-line" rating on the stock in a research report on Wednesday, October 9th. BMO Capital Markets cut shares of American International Group from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $90.00 to $84.00 in a research report on Tuesday. StockNews.com cut shares of American International Group from a "hold" rating to a "sell" rating in a research report on Monday, August 5th. Morgan Stanley cut their price target on shares of American International Group from $82.00 to $80.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 10th. Finally, Piper Sandler cut their price target on shares of American International Group from $89.00 to $86.00 and set an "overweight" rating on the stock in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $84.38.

American International Group Stock Performance

NYSE:AIG traded down $0.64 during midday trading on Friday, hitting $78.55. The company's stock had a trading volume of 2,658,652 shares, compared to its average volume of 4,137,100. American International Group, Inc. has a fifty-two week low of $58.69 and a fifty-two week high of $80.83. The firm's 50 day moving average is $74.43 and its 200-day moving average is $75.50. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market cap of $52.13 billion, a P/E ratio of 11.72, a P/E/G ratio of 3.88 and a beta of 1.06.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing analysts' consensus estimates of $1.30 by ($0.14). The firm had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. American International Group's revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.75 EPS. Equities analysts anticipate that American International Group, Inc. will post 5.09 earnings per share for the current fiscal year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. American International Group's payout ratio is 23.88%.

American International Group Company 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.