Richard Bernstein Advisors LLC Sells 31,282 Shares of American International Group, Inc. $AIG

Richard Bernstein Advisors LLC reduced its stake in American International Group, Inc. (NYSE:AIG) by 42.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,289 shares of the insurance provider’s stock after selling 31,282 shares during the quarter. Richard Bernstein Advisors LLC’s holdings in American International Group were worth $3,321,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AIG. Brighton Jones LLC acquired a new stake in shares of American International Group during the 4th quarter valued at about $1,091,000. Sivia Capital Partners LLC increased its position in American International Group by 30.7% during the second quarter. Sivia Capital Partners LLC now owns 5,050 shares of the insurance provider’s stock worth $432,000 after buying an additional 1,185 shares during the last quarter. Vestmark Advisory Solutions Inc. bought a new stake in shares of American International Group during the 2nd quarter valued at approximately $327,000. Fox Run Management L.L.C. acquired a new stake in American International Group in the second quarter valued at approximately $555,000. Finally, AE Wealth Management LLC boosted its holdings in American International Group by 13.3% in the second quarter. AE Wealth Management LLC now owns 3,652 shares of the insurance provider’s stock worth $313,000 after purchasing an additional 429 shares during the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Trading Down 1.4%

Shares of AIG stock opened at $77.62 on Tuesday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average price of $77.36 and a two-hundred day moving average price of $78.87. The company has a market capitalization of $41.65 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 0.61 and a beta of 0.58. American International Group, Inc. has a 12-month low of $71.25 and a 12-month high of $88.07.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.06. American International Group had a return on equity of 9.79% and a net margin of 11.56%.The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.99 billion. During the same quarter last year, the business posted $1.30 earnings per share. As a group, analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, March 16th. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. American International Group’s dividend payout ratio (DPR) is currently 33.21%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Barclays cut their price objective on American International Group from $81.00 to $79.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 11th. Jefferies Financial Group raised their target price on shares of American International Group from $96.00 to $101.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Keefe, Bruyette & Woods boosted their target price on American International Group from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. The Goldman Sachs Group raised shares of American International Group from a “neutral” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Thursday, March 5th. Finally, Piper Sandler dropped their price target on American International Group from $95.00 to $88.00 and set an “overweight” rating on the stock in a report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $87.95.

American International Group Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.