Tompkins Financial Corp Lowers Stock Position in American International Group Inc (NYSE:AIG)
Tompkins Financial Corp lowered its position in American International Group Inc (NYSE:AIG) by 25.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,011 shares of the insurance provider’s stock after selling 700 shares during the quarter. Tompkins Financial Corp’s holdings in American International Group were worth $63,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of the business. London Co. of Virginia acquired a new stake in American International Group in the first quarter valued at approximately $286,000. Ellevest Inc. grew its holdings in shares of American International Group by 10,219.4% in the first quarter. Ellevest Inc. now owns 7,430 shares of the insurance provider’s stock worth $180,000 after acquiring an additional 7,358 shares during the period. Clarius Group LLC purchased a new stake in American International Group during the second quarter valued at $224,000. AQR Capital Management LLC lifted its holdings in American International Group by 103.0% in the first quarter. AQR Capital Management LLC now owns 355,505 shares of the insurance provider’s stock valued at $8,621,000 after acquiring an additional 180,419 shares during the period. Finally, BBVA USA Bancshares Inc. boosted its position in American International Group by 34.6% in the first quarter. BBVA USA Bancshares Inc. now owns 167,967 shares of the insurance provider’s stock worth $4,074,000 after purchasing an additional 43,133 shares during the last quarter. 90.08% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on AIG shares. William Blair cut shares of American International Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 5th. UBS Group decreased their target price on American International Group from $49.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, May 11th. JPMorgan Chase & Co. cut their price target on American International Group from $49.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, May 5th. They noted that the move was a valuation call. Deutsche Bank reduced their price target on American International Group from $53.00 to $36.00 and set a “hold” rating for the company in a research report on Tuesday, April 14th. Finally, Piper Sandler cut their price objective on American International Group from $45.00 to $29.00 and set an “overweight” rating for the company in a research note on Monday, April 6th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. American International Group has an average rating of “Hold” and a consensus price target of $44.23.
American International Group (NYSE:AIG) last released its earnings results on Monday, May 4th. The insurance provider reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.72). The company had revenue of $10.92 billion for the quarter, compared to the consensus estimate of $11.58 billion. American International Group had a net margin of 8.59% and a return on equity of 4.31%. During the same period in the prior year, the firm posted $1.58 EPS. On average, research analysts forecast that American International Group Inc will post 2.6 earnings per share for the current fiscal year.
About American International Group
American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, crop, and marine insurance.
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