American International Group, Inc. $AIG Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in American International Group, Inc. (NYSE:AIG) by 6.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 602,965 shares of the insurance provider’s stock after selling 38,469 shares during the quarter. Principal Financial Group Inc.’s holdings in American International Group were worth $47,357,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans lifted its position in shares of American International Group by 8.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,046,367 shares of the insurance provider’s stock worth $82,181,000 after buying an additional 83,962 shares during the last quarter. Frank Rimerman Advisors LLC raised its stake in American International Group by 59.2% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 4,496 shares of the insurance provider’s stock worth $353,000 after acquiring an additional 1,671 shares in the last quarter. Centric Wealth Management raised its stake in American International Group by 1.8% during the 3rd quarter. Centric Wealth Management now owns 36,828 shares of the insurance provider’s stock worth $2,908,000 after acquiring an additional 649 shares in the last quarter. Everhart Financial Group Inc. lifted its position in American International Group by 15.4% in the third quarter. Everhart Financial Group Inc. now owns 12,755 shares of the insurance provider’s stock valued at $1,002,000 after acquiring an additional 1,705 shares during the last quarter. Finally, Howard Capital Management Inc. boosted its stake in American International Group by 3.0% in the third quarter. Howard Capital Management Inc. now owns 4,717 shares of the insurance provider’s stock valued at $370,000 after acquiring an additional 138 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Stock Up 3.0%

Shares of American International Group stock opened at $76.36 on Thursday. American International Group, Inc. has a one year low of $71.25 and a one year high of $88.07. The company has a market cap of $41.20 billion, a P/E ratio of 13.88, a PEG ratio of 0.56 and a beta of 0.61. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a fifty day moving average of $78.87 and a two-hundred day moving average of $78.98.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.63. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.82 billion. American International Group had a net margin of 11.89% and a return on equity of 9.09%. During the same period in the previous year, the business posted $1.23 earnings per share. On average, analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on AIG shares. HSBC cut their target price on American International Group from $91.00 to $86.00 and set a “buy” rating on the stock in a research report on Friday, January 16th. Keefe, Bruyette & Woods increased their price objective on American International Group from $91.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Evercore ISI cut their target price on shares of American International Group from $90.00 to $85.00 in a report on Friday, January 23rd. UBS Group increased their price target on shares of American International Group from $90.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Cantor Fitzgerald dropped their price objective on shares of American International Group from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 14th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $87.42.

About American International Group

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.