American International Group, Inc. (NYSE:AIG) Shares Purchased by Summit Global Investments

Summit Global Investments increased its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 21.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,844 shares of the insurance provider's stock after purchasing an additional 8,455 shares during the period. Summit Global Investments' holdings in American International Group were worth $3,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of AIG. Forum Financial Management LP increased its stake in American International Group by 1.1% in the second quarter. Forum Financial Management LP now owns 12,173 shares of the insurance provider's stock valued at $904,000 after purchasing an additional 128 shares during the last quarter. Quent Capital LLC boosted its stake in American International Group by 4.0% in the 2nd quarter. Quent Capital LLC now owns 3,834 shares of the insurance provider's stock worth $285,000 after buying an additional 146 shares during the last quarter. New Republic Capital LLC increased its holdings in shares of American International Group by 5.2% during the 1st quarter. New Republic Capital LLC now owns 3,290 shares of the insurance provider's stock worth $257,000 after buying an additional 164 shares during the last quarter. Avantax Advisory Services Inc. lifted its position in American International Group by 2.8% during the first quarter. Avantax Advisory Services Inc. now owns 6,106 shares of the insurance provider's stock valued at $477,000 after buying an additional 165 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its position in shares of American International Group by 4.9% in the first quarter. EP Wealth Advisors LLC now owns 3,536 shares of the insurance provider's stock worth $276,000 after buying an additional 165 shares during the period. 90.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AIG. Barclays started coverage on American International Group in a research report on Wednesday, September 4th. They set an "overweight" rating and a $90.00 price target on the stock. Jefferies Financial Group raised their price target on American International Group from $82.00 to $88.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. StockNews.com lowered American International Group from a "hold" rating to a "sell" rating in a report on Monday, August 5th. JPMorgan Chase & Co. raised American International Group from a "neutral" rating to an "overweight" rating and reduced their price objective for the company from $93.00 to $89.00 in a research note on Thursday, October 10th. Finally, Piper Sandler lowered their price objective on American International Group from $89.00 to $86.00 and set an "overweight" rating on the stock in a research report on Friday, August 2nd. One 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's stock. Based on data from MarketBeat, American International Group has a consensus rating of "Hold" and an average target price of $84.31.

American International Group Stock Down 1.3 %

AIG traded down $1.02 on Friday, hitting $75.57. 4,948,016 shares of the company were exchanged, compared to its average volume of 4,111,416. American International Group, Inc. has a 12 month low of $62.75 and a 12 month high of $80.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67. The stock's fifty day moving average is $75.17 and its 200-day moving average is $75.65. The company has a market cap of $48.66 billion, a PE ratio of -22.59, a PEG ratio of 5.26 and a beta of 1.05.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.13. The company had revenue of $6.75 billion during the quarter, compared to analysts' expectations of $6.62 billion. American International Group had a positive return on equity of 8.49% and a negative net margin of 6.19%. During the same period in the prior year, the company earned $1.61 EPS. Equities research analysts predict that American International Group, Inc. will post 4.99 EPS for the current fiscal year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Monday, December 16th. American International Group's dividend payout ratio is currently -47.20%.

Insider Transactions at American International Group

In other news, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the transaction, the insider now directly owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.61% of the company's stock.

About American International Group

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.