Thrivent Financial for Lutherans Sells 494,999 Shares of American International Group, Inc. (NYSE:AIG)

Thrivent Financial for Lutherans cut its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 33.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 990,113 shares of the insurance provider's stock after selling 494,999 shares during the period. Thrivent Financial for Lutherans owned about 0.15% of American International Group worth $72,506,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AIG. Avantax Advisory Services Inc. raised its holdings in shares of American International Group by 2.8% in the first quarter. Avantax Advisory Services Inc. now owns 6,106 shares of the insurance provider's stock valued at $477,000 after purchasing an additional 165 shares during the last quarter. Blair William & Co. IL grew its stake in shares of American International Group by 4.8% in the first quarter. Blair William & Co. IL now owns 26,753 shares of the insurance provider's stock valued at $2,091,000 after buying an additional 1,222 shares in the last quarter. UniSuper Management Pty Ltd grew its stake in shares of American International Group by 239.1% in the first quarter. UniSuper Management Pty Ltd now owns 21,751 shares of the insurance provider's stock valued at $1,700,000 after buying an additional 15,337 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of American International Group by 64.3% in the first quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider's stock valued at $2,227,000 after buying an additional 11,149 shares in the last quarter. Finally, Lake Street Advisors Group LLC bought a new position in shares of American International Group in the first quarter valued at $359,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Trading Up 0.7 %

Shares of NYSE:AIG traded up $0.54 during midday trading on Monday, hitting $76.31. 3,125,884 shares of the stock were exchanged, compared to its average volume of 4,124,171. The stock has a market capitalization of $47.60 billion, a price-to-earnings ratio of -22.35, a P/E/G ratio of 7.50 and a beta of 1.05. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. The business's 50-day moving average price is $75.20 and its 200 day moving average price is $75.69. American International Group, Inc. has a 12 month low of $63.79 and a 12 month high of $80.83.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.13. The firm had revenue of $6.75 billion for the quarter, compared to analysts' expectations 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 period in the prior year, the business earned $1.61 EPS. Analysts predict that American International Group, Inc. will post 5.13 earnings per share for the current year.

American International Group Dividend Announcement

The firm 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 dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Monday, December 16th. American International Group's dividend payout ratio is presently -47.20%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Bank of America raised their target price on shares of American International Group from $82.00 to $86.00 and gave the company a "neutral" rating in a research note on Thursday, October 10th. StockNews.com raised shares of American International Group from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. Royal Bank of Canada reissued an "outperform" rating and issued a $87.00 target price on shares of American International Group in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods reduced their price objective on shares of American International Group from $88.00 to $87.00 and set an "outperform" rating for the company in a research report on Tuesday, November 12th. Finally, Jefferies Financial Group lifted their price objective on shares of American International Group from $82.00 to $88.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $84.13.

Insider Activity

In other news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the transaction, the insider now owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This represents a 1.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.61% of the company's stock.

American International Group 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.