Murphy Pohlad Asset Management LLC Has $4.02 Million Holdings in American International Group, Inc. (NYSE:AIG)

Murphy Pohlad Asset Management LLC cut its position in shares of American International Group, Inc. (NYSE:AIG) by 5.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,205 shares of the insurance provider’s stock after selling 2,945 shares during the quarter. American International Group comprises about 1.7% of Murphy Pohlad Asset Management LLC’s holdings, making the stock its 18th largest position. Murphy Pohlad Asset Management LLC’s holdings in American International Group were worth $4,024,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Fortitude Family Office LLC increased its position in shares of American International Group by 199.2% during the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after buying an additional 239 shares during the period. Rise Advisors LLC acquired a new position in shares of American International Group during the first quarter valued at about $29,000. Valued Wealth Advisors LLC grew its holdings in shares of American International Group by 303.3% during the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock valued at $29,000 after buying an additional 276 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of American International Group by 326.0% during the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock valued at $33,000 after buying an additional 339 shares during the last quarter. Finally, CENTRAL TRUST Co grew its holdings in shares of American International Group by 123.8% during the first quarter. CENTRAL TRUST Co now owns 452 shares of the insurance provider’s stock valued at $35,000 after buying an additional 250 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Stock Performance

Shares of AIG traded up $0.14 during trading hours on Friday, hitting $73.56. The company’s stock had a trading volume of 5,932,163 shares, compared to its average volume of 4,225,936. The company has a market cap of $48.82 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 2.48 and a beta of 1.07. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.29 and a quick ratio of 0.29. The business has a 50 day simple moving average of $74.92 and a two-hundred day simple moving average of $74.94. American International Group, Inc. has a 52-week low of $57.02 and a 52-week high of $80.83.

American International Group (NYSE:AIG) last posted its 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). The business had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $11.64 billion. American International Group had a positive return on equity of 9.37% and a negative net margin of 1.54%. American International Group’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.75 EPS. On average, equities analysts expect that American International Group, Inc. will post 6.4 earnings per share for the current fiscal year.

American International Group declared that its board has approved a share buyback program on Wednesday, May 1st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the insurance provider to buy up to 19.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 annualized dividend and a yield of 2.18%. American International Group’s dividend payout ratio is currently 23.88%.

Insider Activity at American International Group

In related news, major shareholder International Group American sold 1,932,609 shares of the business’s stock in a transaction that occurred 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 owns 292,271,027 shares of the company’s stock, valued at $8,534,313,988.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 39,964,738 shares of company stock valued at $1,132,432,195. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

AIG has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of American International Group from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Piper Sandler dropped their price target on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. StockNews.com lowered shares of American International Group from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. raised their price target on shares of American International Group from $80.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $87.00 price target on shares of American International Group in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $83.47.

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.