Sentry Investment Management LLC Sells 634 Shares of American International Group, Inc. (NYSE:AIG)

Sentry Investment Management LLC cut its holdings in American International Group, Inc. (NYSE:AIG) by 17.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,098 shares of the insurance provider’s stock after selling 634 shares during the period. Sentry Investment Management LLC’s holdings in American International Group were worth $230,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AIG. Capital Research Global Investors boosted its position in shares of American International Group by 0.4% during the fourth quarter. Capital Research Global Investors now owns 41,770,175 shares of the insurance provider’s stock worth $2,829,930,000 after acquiring an additional 176,286 shares during the last quarter. Norges Bank purchased a new stake in American International Group in the 4th quarter worth $746,005,000. Putnam Investments LLC boosted its holdings in shares of American International Group by 3.8% during the 4th quarter. Putnam Investments LLC now owns 8,245,693 shares of the insurance provider’s stock valued at $558,646,000 after purchasing an additional 300,712 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of American International Group by 0.6% during the first quarter. Clearbridge Investments LLC now owns 5,440,355 shares of the insurance provider’s stock valued at $425,273,000 after purchasing an additional 31,340 shares in the last quarter. Finally, Third Point LLC increased its holdings in shares of American International Group by 16.9% in the fourth quarter. Third Point LLC now owns 3,450,000 shares of the insurance provider’s stock worth $233,738,000 after purchasing an additional 500,000 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AIG shares. TD Cowen dropped their price target on American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. Bank of America raised their target price on shares of American International Group from $81.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Barclays assumed coverage on shares of American International Group in a research note on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price target on the stock. Evercore ISI lowered their price objective on American International Group from $81.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, June 27th. Finally, StockNews.com downgraded shares of American International Group from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $83.88.

Insider Activity

In related news, major shareholder International Group American sold 1,932,609 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the completion of the sale, the insider now directly owns 292,271,027 shares in the company, valued at approximately $8,534,313,988.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.61% of the company’s stock.

American International Group Trading Down 0.2 %

AIG opened at $72.18 on Thursday. American International Group, Inc. has a 52 week low of $57.72 and a 52 week high of $80.83. The stock’s fifty day moving average is $74.87 and its two-hundred day moving average is $75.65. The company has a market capitalization of $47.90 billion, a P/E ratio of 10.77, a PEG ratio of 3.58 and a beta of 1.06. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 EPS 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 9.52%. The business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the prior year, the firm posted $1.75 EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year. Analysts forecast that American International Group, Inc. will post 5.24 earnings per share for the current year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given 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 2.22%. American International Group’s dividend payout ratio (DPR) 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.