Westfield Capital Management Co. LP Sells 83,947 Shares of American International Group, Inc. (NYSE:AIG)

Westfield Capital Management Co. LP lessened its holdings in shares of American International Group, Inc. (NYSE:AIG) by 4.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,743,999 shares of the insurance provider’s stock after selling 83,947 shares during the quarter. Westfield Capital Management Co. LP owned about 0.27% of American International Group worth $127,713,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Christopher J. Hasenberg Inc bought a new stake in shares of American International Group during the 3rd quarter valued at about $26,000. Fortitude Family Office LLC boosted its position in shares of American International Group by 199.2% during the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 239 shares during the last quarter. Y.D. More Investments Ltd bought a new stake in shares of American International Group during the 2nd quarter valued at about $27,000. Versant Capital Management Inc boosted its position in shares of American International Group by 326.0% during the 2nd quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 339 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of American International Group during the 3rd quarter valued at about $46,000. Institutional investors own 90.60% of the company’s stock.

American International Group Trading Up 0.1 %

NYSE AIG opened at $76.06 on Friday. American International Group, Inc. has a 12 month low of $64.54 and a 12 month high of $80.83. The stock has a market cap of $47.44 billion, a P/E ratio of -22.44, a P/E/G ratio of 7.52 and a beta of 1.05. The stock’s fifty day moving average price is $75.50 and its 200-day moving average price is $75.59. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last released its earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. The firm had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the prior year, the firm posted $1.61 earnings per share. As a group, equities analysts forecast that American International Group, Inc. will post 5.13 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be given a dividend of $0.40 per share. The ex-dividend date is Monday, December 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.10%. American International Group’s dividend payout ratio (DPR) is presently -47.20%.

Insider Activity at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the sale, the insider now directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This trade represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.61% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AIG. TD Cowen cut their target price on American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. Keefe, Bruyette & Woods cut their target price on American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. BMO Capital Markets lowered American International Group from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $90.00 to $84.00 in a research note on Tuesday, October 15th. Piper Sandler cut their target price on American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised American International Group from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $93.00 to $89.00 in a research note on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.80.

American International Group Company Profile

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers’ compensation, excess casualty, and crisis management insurance products; and professional liability insurance.