Glenmede Trust Co. NA Sells 67,836 Shares of American International Group, Inc. $AIG

Glenmede Trust Co. NA cut its stake in shares of American International Group, Inc. (NYSE:AIG) by 54.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,399 shares of the insurance provider’s stock after selling 67,836 shares during the period. Glenmede Trust Co. NA’s holdings in American International Group were worth $4,319,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC bought a new stake in shares of American International Group in the 4th quarter valued at about $1,091,000. Sivia Capital Partners LLC grew its holdings in American International Group by 30.7% during the second quarter. Sivia Capital Partners LLC now owns 5,050 shares of the insurance provider’s stock valued at $432,000 after purchasing an additional 1,185 shares during the period. Flow Traders U.S. LLC bought a new stake in American International Group in the second quarter valued at approximately $217,000. Ieq Capital LLC raised its holdings in American International Group by 11.5% in the second quarter. Ieq Capital LLC now owns 244,871 shares of the insurance provider’s stock worth $20,958,000 after purchasing an additional 25,311 shares during the period. Finally, HUB Investment Partners LLC bought a new position in shares of American International Group during the second quarter worth $269,000. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

AIG opened at $79.38 on Wednesday. The company has a market capitalization of $42.09 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 0.72 and a beta of 0.53. The business’s 50-day moving average price is $76.98 and its two-hundred day moving average price is $76.64. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $87.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65.

Analyst Ratings Changes

Several analysts recently commented on the company. Citigroup raised their price objective on American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. HSBC dropped their price target on American International Group from $94.00 to $88.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Weiss Ratings upgraded American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. Piper Sandler reissued a “neutral” rating and set a $80.00 target price (down from $88.00) on shares of American International Group in a research note on Wednesday, July 15th. Finally, Barclays raised their target price on shares of American International Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Seven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, American International Group currently has a consensus rating of “Hold” and a consensus price target of $88.22.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.