American International Group, Inc. $AIG Stock: Knights of Columbus Asset Advisors LLC Reduces Stake

Knights of Columbus Asset Advisors LLC lowered its stake in shares of American International Group, Inc. (NYSE:AIG) by 50.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 58,566 shares of the insurance provider’s stock after selling 59,396 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in American International Group were worth $4,358,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Bank of New York Mellon Corp bought a new stake in American International Group in the 2nd quarter valued at $496,890,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of American International Group in the 2nd quarter valued at $464,539,000. Wellington Management Group LLP lifted its holdings in shares of American International Group by 6.9% during the 2nd quarter. Wellington Management Group LLP now owns 30,331,704 shares of the insurance provider’s stock worth $2,260,622,000 after acquiring an additional 1,961,270 shares during the period. Man Group plc lifted its holdings in shares of American International Group by 104.6% during the 2nd quarter. Man Group plc now owns 3,612,368 shares of the insurance provider’s stock worth $269,230,000 after acquiring an additional 1,847,194 shares during the period. Finally, Bank of Nova Scotia lifted its holdings in shares of American International Group by 131.5% during the 2nd quarter. Bank of Nova Scotia now owns 1,175,453 shares of the insurance provider’s stock worth $87,607,000 after acquiring an additional 667,791 shares during the period. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

Shares of NYSE:AIG opened at $82.28 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. The business’s fifty day moving average price is $77.63 and its two-hundred day moving average price is $77.03. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.29. The stock has a market capitalization of $42.66 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 0.84 and a beta of 0.48.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Tuesday, November 3rd. The insurance provider reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.18. American International Group had a return on equity of 10.86% and a net margin of 11.86%. The company had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.42 billion. During the same period last year, the business earned $2.20 earnings per share. As a group, analysts predict that American International Group, Inc. will post 8.13 EPS for the current fiscal year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Wednesday, December 16th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. American International Group’s dividend payout ratio is presently 32.57%.

Wall Street Analyst Weigh In

AIG has been the topic of several recent research reports. Argus reiterated a “buy” rating and set a $90.00 target price on shares of American International Group in a research report on Wednesday, September 2nd. Bank of America reissued a “neutral” rating on shares of American International Group in a research report on Wednesday, November 4th. Wall Street Zen upgraded shares of American International Group from a “hold” rating to a “buy” rating in a research note on Saturday. Royal Bank Of Canada lifted their price objective on American International Group from $85.00 to $87.00 and gave the company a “sector perform” rating in a report on Monday, August 10th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of American International Group in a report on Tuesday, September 29th. Eight investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $88.00.

Insider Activity

In related news, insider Peter Zaffino sold 36,829 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $76.14, for a total transaction of $2,804,160.06. Following the completion of the sale, the insider owned 556,004 shares in the company, valued at $42,334,144.56. This trade represents a 6.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by company insiders.

Key Headlines Impacting American International Group

Here are the key news stories impacting American International Group this week:

• Positive Sentiment: UBS raised its price target to $103 from $100 and reiterated a Buy rating, implying substantial upside from the reference price. UBS price target update
• Positive Sentiment: Director John Inglis bought 128 shares for about $10,036, increasing his ownership by 4.78%. The purchase is a modest positive insider signal. Director purchase details
• Positive Sentiment: KBW reaffirmed its Buy rating on AIG, adding to the supportive analyst commentary. KBW rating
• Neutral Sentiment: Morgan Stanley maintained its Hold rating, indicating a more cautious view rather than a fresh positive catalyst. Morgan Stanley rating
• Neutral Sentiment: Piper Sandler lifted its target to $85 from $84 but kept a Neutral rating, suggesting limited conviction despite the small increase. Piper Sandler target update

About American International Group

American International Group, Inc. (AIG) is a global insurance company headquartered in New York. Founded in Shanghai in 1919, the company has grown into an insurer serving businesses and individuals in the United States and international markets. AIG’s principal business is general insurance, including commercial and personal property and casualty coverage. Its offerings include products and services for businesses, multinational organizations and individuals, with coverage spanning areas such as property, liability, accident and specialty risks.