GQG Partners LLC Sells 10,514,028 Shares of American International Group, Inc. $AIG

GQG Partners LLC trimmed its stake in American International Group, Inc. (NYSE:AIG) by 99.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 73,409 shares of the insurance provider’s stock after selling 10,514,028 shares during the period. GQG Partners LLC’s holdings in American International Group were worth $5,471,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in AIG. Modus Advisors LLC bought a new stake in shares of American International Group during the fourth quarter valued at approximately $27,000. Navalign LLC bought a new position in American International Group in the fourth quarter worth approximately $29,000. Mcguire Capital Advisors Inc. bought a new stake in American International Group during the 4th quarter valued at $29,000. SHP Wealth Management purchased a new stake in shares of American International Group in the 4th quarter worth $34,000. Finally, CENTRAL TRUST Co grew its position in shares of American International Group by 48.7% during the 1st quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock worth $35,000 after buying an additional 151 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AIG has been the subject of a number of research reports. Royal Bank Of Canada upped their price objective on shares of American International Group from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research note on Monday, August 10th. Wells Fargo & Company reduced their target price on shares of American International Group from $89.00 to $85.00 and set an “equal weight” rating for the company in a report on Monday, August 10th. Weiss Ratings raised shares of American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. BMO Capital Markets raised their price target on shares of American International Group from $83.00 to $89.00 in a report on Thursday, May 7th. Finally, Morgan Stanley cut their price objective on shares of American International Group from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 12th. Seven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $88.28.

Insider Activity

In related news, insider Peter Zaffino sold 200,000 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total value of $15,294,000.00. Following the completion of the transaction, the insider directly owned 592,833 shares in the company, valued at $45,333,939.51. The trade was a 25.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by corporate insiders.

American International Group Trading Up 0.7%

American International Group stock opened at $76.30 on Friday. The stock has a 50-day moving average price of $77.69 and a 200 day moving average price of $76.96. The company has a market capitalization of $39.90 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 0.69 and a beta of 0.53. American International Group, Inc. has a 52 week low of $71.25 and a 52 week high of $87.29. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last released its quarterly earnings data on Thursday, August 6th. The insurance provider reported $2.00 EPS for the quarter, beating the consensus estimate of $1.92 by $0.08. American International Group had a net margin of 11.13% and a return on equity of 11.05%. The business had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same period in the prior year, the firm earned $1.81 EPS. Sell-side analysts anticipate that American International Group, Inc. will post 8.02 EPS for the current year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. American International Group’s payout ratio is presently 36.56%.

About American International Group

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.