Transcend Capital Advisors LLC Lowers Holdings in American International Group, Inc. (NYSE:AIG)

Posted by Defense World Staff on Mar 31st, 2023

Transcend Capital Advisors LLC lowered its stake in shares of American International Group, Inc. (NYSE:AIG – Get Rating) by 31.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,722 shares of the insurance provider’s stock after selling 2,123 shares during the quarter. Transcend Capital Advisors LLC’s holdings in American International Group were worth $299,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Accurate Wealth Management LLC purchased a new stake in shares of American International Group during the 4th quarter valued at $25,000. Chilton Capital Management LLC purchased a new stake in shares of American International Group during the 2nd quarter valued at $26,000. Vigilant Capital Management LLC raised its position in shares of American International Group by 262.3% during the 3rd quarter. Vigilant Capital Management LLC now owns 576 shares of the insurance provider’s stock valued at $27,000 after buying an additional 417 shares in the last quarter. Guardian Wealth Advisors LLC purchased a new stake in shares of American International Group during the 3rd quarter valued at $34,000. Finally, Eagle Bay Advisors LLC raised its position in shares of American International Group by 197.7% during the 3rd quarter. Eagle Bay Advisors LLC now owns 762 shares of the insurance provider’s stock valued at $36,000 after buying an additional 506 shares in the last quarter. Hedge funds and other institutional investors own 89.01% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on AIG shares. Citigroup started coverage on shares of American International Group in a research report on Wednesday, December 14th. They issued a “buy” rating and a $72.00 target price on the stock. Atlantic Securities cut shares of American International Group from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $70.00 to $65.00 in a research report on Wednesday, February 22nd. BMO Capital Markets started coverage on shares of American International Group in a research report on Thursday, January 19th. They issued a “market perform” rating and a $64.00 target price on the stock. StockNews.com started coverage on shares of American International Group in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada lifted their target price on shares of American International Group from $68.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 14th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $65.08.

American International Group Trading Up 2.3 %

Shares of AIG opened at $49.82 on Friday. The firm’s 50-day moving average price is $57.40 and its 200-day moving average price is $57.81. The firm has a market capitalization of $36.73 billion, a price-to-earnings ratio of 3.90, a PEG ratio of 0.76 and a beta of 1.15. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.65. American International Group, Inc. has a 1-year low of $45.66 and a 1-year high of $65.73.

American International Group (NYSE:AIG – Get Rating) last announced its earnings results on Thursday, February 16th. The insurance provider reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.17. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.84 billion. American International Group had a net margin of 18.21% and a return on equity of 7.70%. During the same quarter in the previous year, the firm posted $1.58 EPS. Sell-side analysts anticipate that American International Group, Inc. will post 6.22 EPS for the current year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 17th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Thursday, March 16th. American International Group’s dividend payout ratio (DPR) is presently 10.02%.

About American International Group

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American International Group, Inc engages in the provision of a range of property casualty insurance, life insurance, retirement products, and other financial services to commercial and individual customers. It operates through the following segments: General Insurance, Life and Retirement and Other Operations.