Cornerstone Advisors LLC Has $974,000 Stake in American International Group, Inc. $AIG

Cornerstone Advisors LLC reduced its stake in shares of American International Group, Inc. (NYSE:AIG) by 47.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 12,400 shares of the insurance provider’s stock after selling 11,300 shares during the quarter. Cornerstone Advisors LLC’s holdings in American International Group were worth $974,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Westfuller Advisors LLC acquired a new position in American International Group during the 3rd quarter worth $26,000. Atlantic Union Bankshares Corp increased its stake in shares of American International Group by 7,100.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock valued at $28,000 after buying an additional 355 shares during the period. Eastern Bank raised its position in shares of American International Group by 2,473.3% during the third quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 371 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of American International Group during the second quarter valued at $32,000. Finally, Motco boosted its holdings in American International Group by 950.0% in the third quarter. Motco now owns 420 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 380 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

Analysts Set New Price Targets

AIG has been the subject of several analyst reports. UBS Group lowered their price target on shares of American International Group from $94.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday. Jefferies Financial Group raised their price objective on shares of American International Group from $96.00 to $101.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Bank of America dropped their target price on shares of American International Group from $89.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, January 16th. The Goldman Sachs Group increased their price target on American International Group from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on American International Group from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $87.58.

American International Group Trading Down 0.4%

NYSE AIG opened at $79.45 on Friday. American International Group, Inc. has a one year low of $71.25 and a one year high of $88.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61. The firm has a market cap of $42.63 billion, a P/E ratio of 14.66, a P/E/G ratio of 0.61 and a beta of 0.61. The stock’s 50-day moving average is $78.89 and its 200-day moving average is $78.87.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.06. American International Group had a return on equity of 9.79% and a net margin of 11.56%.The business had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.99 billion. During the same period in the previous year, the firm earned $1.30 EPS. Sell-side analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

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

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.