Corient Capital Partners LLC boosted its position in shares of American International Group, Inc. (NYSE:AIG – Get Rating) by 7.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,693 shares of the insurance provider’s stock after purchasing an additional 967 shares during the period. Corient Capital Partners LLC’s holdings in American International Group were worth $700,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in AIG. GQG Partners LLC bought a new position in American International Group during the 1st quarter worth about $499,693,000. Assenagon Asset Management S.A. grew its holdings in shares of American International Group by 196.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 582,327 shares of the insurance provider’s stock valued at $29,774,000 after acquiring an additional 1,183,224 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of American International Group by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 80,523,572 shares of the insurance provider’s stock valued at $5,054,464,000 after acquiring an additional 932,428 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of American International Group by 5,873.0% in the 1st quarter. National Bank of Canada FI now owns 761,614 shares of the insurance provider’s stock valued at $47,828,000 after acquiring an additional 748,863 shares in the last quarter. Finally, Aaron Wealth Advisors LLC bought a new position in shares of American International Group in the 1st quarter valued at about $10,297,000. Institutional investors own 90.18% of the company’s stock.
American International Group Trading Up 0.1 %
Shares of AIG stock opened at $60.96 on Thursday. The firm has a 50 day moving average price of $54.12 and a two-hundred day moving average price of $54.06. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $45.29 billion, a PE ratio of 3.63, a price-to-earnings-growth ratio of 1.41 and a beta of 1.19. American International Group, Inc. has a 12-month low of $47.05 and a 12-month high of $65.73.
American International Group Dividend Announcement
Insiders Place Their Bets
In other news, major shareholder International Group American sold 80,000,000 shares of American International Group stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $21.00, for a total value of $1,680,000,000.00. Following the completion of the sale, the insider now directly owns 501,145,000 shares in the company, valued at $10,524,045,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.31% of the company’s stock.
Analyst Ratings Changes
AIG has been the subject of several analyst reports. Evercore ISI decreased their price objective on American International Group to $56.00 in a report on Thursday, October 13th. The Goldman Sachs Group initiated coverage on American International Group in a report on Monday, October 10th. They issued a “buy” rating and a $83.00 price objective for the company. TheStreet upgraded shares of American International Group from a “c+” rating to a “b” rating in a research note on Thursday, October 27th. Credit Suisse Group raised their target price on shares of American International Group from $50.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, September 12th. Finally, Piper Sandler cut their target price on shares of American International Group from $68.00 to $62.00 in a research note on Monday, October 10th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, American International Group currently has a consensus rating of “Hold” and an average price target of $63.20.
About American International Group
American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment provides general liability, environmental, commercial automobile liability, workers' compensation, casualty, and crisis management insurance products; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, crop, and marine insurance.
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