Bruce G. Allen Investments LLC Has $45,000 Stock Holdings in American International Group, Inc. (NYSE:AIG)

Bruce G. Allen Investments LLC reduced its holdings in shares of American International Group, Inc. (NYSE:AIG) by 35.0% in the second quarter, Holdings Channel reports. The institutional investor owned 603 shares of the insurance provider’s stock after selling 325 shares during the period. Bruce G. Allen Investments LLC’s holdings in American International Group were worth $45,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Essex Financial Services Inc. bought a new position in American International Group during the 4th quarter valued at $260,000. TCW Group Inc. bought a new position in shares of American International Group during the fourth quarter valued at about $724,000. Dynamic Technology Lab Private Ltd purchased a new position in American International Group during the fourth quarter worth about $948,000. Sequoia Financial Advisors LLC boosted its holdings in American International Group by 121.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 38,809 shares of the insurance provider’s stock worth $2,629,000 after purchasing an additional 21,279 shares during the last quarter. Finally, Eudaimonia Partners LLC bought a new stake in American International Group in the 4th quarter worth about $635,000. 90.60% of the stock is owned by institutional investors.

Insider Activity

In other news, major shareholder International Group American sold 1,932,609 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the completion of the transaction, the insider now directly owns 292,271,027 shares in the company, valued at approximately $8,534,313,988.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 39,964,738 shares of company stock worth $1,132,432,195 over the last ninety days. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $87.00 target price on shares of American International Group in a research report on Tuesday, July 9th. StockNews.com cut American International Group from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. BMO Capital Markets upped their price objective on American International Group from $88.00 to $89.00 and gave the company an “outperform” rating in a research note on Monday, May 13th. Piper Sandler lowered their target price on American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Evercore ISI reduced their price target on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, American International Group currently has an average rating of “Hold” and an average target price of $83.13.

American International Group Stock Performance

American International Group stock traded down $0.08 during mid-day trading on Friday, reaching $72.06. The company’s stock had a trading volume of 3,541,157 shares, compared to its average volume of 4,243,853. The firm’s fifty day moving average price is $75.26 and its two-hundred day moving average price is $74.89. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.29 and a current ratio of 0.29. American International Group, Inc. has a 12-month low of $57.02 and a 12-month high of $80.83. The company has a market capitalization of $47.82 billion, a P/E ratio of 10.76, a PEG ratio of 2.48 and a beta of 1.07.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.14). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.37%. The company had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter last year, the firm posted $1.75 earnings per share. American International Group’s revenue for the quarter was up .0% compared to the same quarter last year. Sell-side analysts predict that American International Group, Inc. will post 6.4 EPS for the current fiscal year.

American International Group declared that its Board of Directors has authorized a share repurchase program on Wednesday, May 1st that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to purchase up to 19.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Monday, September 16th. American International Group’s dividend payout ratio is presently 23.88%.

American International Group Profile

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.