Corebridge Financial Inc. Sells 11,730 Shares of American International Group, Inc. (NYSE:AIG)

Corebridge Financial Inc. trimmed its holdings in shares of American International Group, Inc. (NYSE:AIG) by 7.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 143,361 shares of the insurance provider’s stock after selling 11,730 shares during the quarter. Corebridge Financial Inc.’s holdings in American International Group were worth $10,437,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Artemis Investment Management LLP raised its stake in American International Group by 115.9% in the fourth quarter. Artemis Investment Management LLP now owns 274,246 shares of the insurance provider’s stock valued at $19,965,000 after purchasing an additional 147,235 shares in the last quarter. Beacon Investment Advisory Services Inc. raised its position in shares of American International Group by 5.2% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 70,816 shares of the insurance provider’s stock valued at $5,155,000 after buying an additional 3,490 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of American International Group by 54.3% during the 4th quarter. Jones Financial Companies Lllp now owns 12,690 shares of the insurance provider’s stock worth $924,000 after acquiring an additional 4,468 shares during the last quarter. Merit Financial Group LLC bought a new position in American International Group in the fourth quarter valued at $1,260,000. Finally, Williams & Novak LLC purchased a new stake in American International Group during the fourth quarter valued at about $279,000. 90.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AIG has been the subject of a number of research reports. The Goldman Sachs Group reiterated a “neutral” rating and issued a $79.00 price objective (down from $83.00) on shares of American International Group in a report on Wednesday, January 8th. HSBC raised shares of American International Group from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Wednesday, March 5th. Hsbc Global Res raised shares of American International Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. UBS Group decreased their target price on shares of American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. Finally, Morgan Stanley boosted their price target on shares of American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, American International Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.31.

American International Group Price Performance

Shares of AIG stock opened at $84.17 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67. American International Group, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $85.11. The firm has a market cap of $49.94 billion, a P/E ratio of -40.47, a P/E/G ratio of 1.01 and a beta of 0.98. The business’s 50 day moving average price is $78.16 and its 200-day moving average price is $75.77.

American International Group (NYSE:AIG) last released its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. On average, equities research analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Monday, March 17th. American International Group’s payout ratio is currently -76.92%.

Insiders Place Their Bets

In other news, Director John G. Rice acquired 10,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was acquired at an average price of $77.00 per share, for a total transaction of $770,000.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $770,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by company insiders.

About American International Group

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