Sumitomo Mitsui Trust Holdings Inc. Has $114.81 Million Position in American International Group, Inc. (NYSE:AIG)

by · The Cerbat Gem

Sumitomo Mitsui Trust Holdings Inc. lessened its holdings in American International Group, Inc. (NYSE:AIG – Free Report) by 3.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,894,607 shares of the insurance provider’s stock after selling 74,664 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.27% of American International Group worth $114,813,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Glassman Wealth Services raised its holdings in shares of American International Group by 35.5% in the 2nd quarter. Glassman Wealth Services now owns 997 shares of the insurance provider’s stock worth $57,000 after buying an additional 261 shares in the last quarter. North Star Investment Management Corp. grew its position in American International Group by 36.8% in the second quarter. North Star Investment Management Corp. now owns 1,026 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 276 shares during the period. Macroview Investment Management LLC raised its stake in American International Group by 48,800.0% during the third quarter. Macroview Investment Management LLC now owns 978 shares of the insurance provider’s stock worth $59,000 after acquiring an additional 976 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of American International Group by 20.9% during the first quarter. Parkside Financial Bank & Trust now owns 1,110 shares of the insurance provider’s stock valued at $69,000 after acquiring an additional 192 shares during the period. Finally, Fairfield Bush & CO. acquired a new stake in shares of American International Group in the 2nd quarter valued at $77,000. Institutional investors own 88.57% of the company’s stock.

American International Group Stock Up 0.3 %

American International Group stock opened at $67.50 on Friday. American International Group, Inc. has a fifty-two week low of $45.66 and a fifty-two week high of $69.76. The firm has a market capitalization of $47.39 billion, a PE ratio of 12.93, a P/E/G ratio of 0.91 and a beta of 1.02. The company’s 50-day moving average is $66.01 and its 200-day moving average is $62.04. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29.

American International Group (NYSE:AIG – Get Free Report) last announced its quarterly earnings results on Thursday, November 2nd. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.06. The business had revenue of $12.77 billion during the quarter, compared to the consensus estimate of $12.62 billion. American International Group had a return on equity of 10.66% and a net margin of 7.87%. During the same quarter last year, the firm posted $0.66 EPS. Sell-side analysts anticipate that American International Group, Inc. will post 6.65 earnings per share for the current year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date was Wednesday, December 13th. American International Group’s dividend payout ratio is presently 27.59%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AIG. Wells Fargo & Company lifted their price target on shares of American International Group from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, October 17th. Royal Bank of Canada boosted their target price on American International Group from $72.00 to $76.00 and gave the stock an “outperform” rating in a report on Wednesday, December 20th. Deutsche Bank Aktiengesellschaft assumed coverage on American International Group in a report on Wednesday, October 4th. They set a “buy” rating and a $79.00 price target for the company. BMO Capital Markets raised American International Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $72.00 to $83.00 in a research note on Tuesday, December 19th. Finally, Argus raised American International Group from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a report on Tuesday, November 21st. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.71.

Get Our Latest Stock Report on AIG

Insider Activity

In related news, major shareholder International Group American sold 50,000,000 shares of American International Group stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $20.50, for a total transaction of $1,025,000,000.00. Following the completion of the sale, the insider now directly owns 365,413,892 shares of the company’s stock, valued at approximately $7,490,984,786. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.49% of the stock is owned by company insiders.

American International Group Company Profile

(Free Report)

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through General Insurance, and Life and Retirement segments. 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.

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