Sumitomo Mitsui Trust Group Inc. Decreases Stock Position in American International Group, Inc. (NYSE:AIG)

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,469,098 shares of the insurance provider's stock after selling 31,985 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of American International Group worth $107,582,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Diamond Hill Capital Management Inc. boosted its holdings in shares of American International Group by 5.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider's stock worth $1,002,163,000 after buying an additional 722,237 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of 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 last quarter. Clearbridge Investments LLC grew its holdings in American International Group by 0.6% during the 1st quarter. Clearbridge Investments LLC now owns 5,440,355 shares of the insurance provider's stock valued at $425,273,000 after buying an additional 31,340 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in American International Group by 6.7% in the second 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 last quarter. Finally, APG Asset Management N.V. raised its position in shares of 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. 90.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of American International Group from $82.00 to $88.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. TD Cowen lowered their price objective on shares of American International Group from $83.00 to $80.00 and set a "hold" rating for the company in a research note on Tuesday, August 13th. Evercore ISI decreased their price objective on American International Group from $79.00 to $78.00 and set an "in-line" rating for the company in a research note on Wednesday, October 9th. Barclays began coverage on American International Group in a research note on Wednesday, September 4th. They issued an "overweight" rating and a $90.00 target price on the stock. Finally, StockNews.com upgraded shares of American International Group from a "sell" rating to a "hold" rating in a report on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $84.13.

American International Group Stock Performance

NYSE AIG traded down $0.28 on Thursday, hitting $75.81. 1,230,164 shares of the company's stock traded hands, compared to its average volume of 4,112,367. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22. The firm's 50-day moving average price is $75.09 and its two-hundred day moving average price is $75.68. American International Group, Inc. has a 1-year low of $63.39 and a 1-year high of $80.83. The firm has a market capitalization of $47.29 billion, a PE ratio of -22.45, a P/E/G ratio of 7.41 and a beta of 1.05.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.13. The business had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same quarter last year, the business posted $1.61 EPS. As a group, analysts expect that American International Group, Inc. will post 5.13 EPS for the current year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Monday, December 16th. American International Group's dividend payout ratio is currently -47.20%.

Insider Buying and Selling

In other news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction dated 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 directly owns 279,238,898 shares of the company's stock, valued at $8,058,834,596.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.61% of the stock is currently owned by insiders.

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.