Orion Porfolio Solutions LLC Trims Stock Holdings in American International Group, Inc. $AIG

Orion Porfolio Solutions LLC cut its holdings in shares of American International Group, Inc. (NYSE:AIG) by 32.6% during the third quarter, HoldingsChannel.com reports. The fund owned 23,043 shares of the insurance provider’s stock after selling 11,131 shares during the quarter. Orion Porfolio Solutions LLC’s holdings in American International Group were worth $1,810,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Integrated Quantitative Investments LLC purchased a new stake in American International Group in the 3rd quarter valued at $229,000. Rock Point Advisors LLC boosted its stake in American International Group by 3.1% during the 3rd quarter. Rock Point Advisors LLC now owns 102,104 shares of the insurance provider’s stock worth $8,019,000 after purchasing an additional 3,042 shares during the period. Cresset Asset Management LLC grew its position in American International Group by 4.0% during the 3rd quarter. Cresset Asset Management LLC now owns 123,501 shares of the insurance provider’s stock worth $9,700,000 after purchasing an additional 4,712 shares during the last quarter. Level Four Advisory Services LLC increased its stake in American International Group by 6.3% in the third quarter. Level Four Advisory Services LLC now owns 6,554 shares of the insurance provider’s stock valued at $515,000 after purchasing an additional 388 shares during the period. Finally, Kingsview Wealth Management LLC increased its stake in American International Group by 22.5% in the third quarter. Kingsview Wealth Management LLC now owns 42,560 shares of the insurance provider’s stock valued at $3,343,000 after purchasing an additional 7,831 shares during the period. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Stock Down 0.1%

Shares of NYSE:AIG opened at $77.99 on Thursday. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $88.07. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. The firm’s 50-day simple moving average is $77.04 and its 200-day simple moving average is $78.83. The company has a market cap of $41.84 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 0.60 and a beta of 0.58.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.06. The firm had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.99 billion. American International Group had a net margin of 11.56% and a return on equity of 9.79%. During the same period in the prior year, the company posted $1.30 earnings per share. As a group, equities research analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, March 16th. This represents a $1.80 annualized dividend and a yield of 2.3%. American International Group’s payout ratio is presently 33.21%.

Wall Street Analysts Forecast Growth

AIG has been the subject of several recent research reports. Jefferies Financial Group increased their target price on shares of American International Group from $96.00 to $101.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Wells Fargo & Company boosted their price target on American International Group from $85.00 to $87.00 and gave the company an “equal weight” rating in a research report on Friday, February 13th. TD Cowen upped their price objective on American International Group from $86.00 to $90.00 and gave the company a “hold” rating in a research note on Tuesday, December 16th. Piper Sandler decreased their price objective on American International Group from $95.00 to $88.00 and set an “overweight” rating for the company in a research report on Thursday, February 12th. Finally, UBS Group lowered their target price on American International Group from $94.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat, American International Group has an average rating of “Hold” and an average price target of $87.95.

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.