Glenmede Trust Co. NA Has $4.32 Million Stake in American International Group, Inc. $AIG

Glenmede Trust Co. NA lowered its holdings in American International Group, Inc. (NYSE:AIG) by 54.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,399 shares of the insurance provider’s stock after selling 67,836 shares during the period. Glenmede Trust Co. NA’s holdings in American International Group were worth $4,319,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Modus Advisors LLC bought a new position in shares of American International Group in the 4th quarter valued at about $27,000. Navalign LLC bought a new stake in American International Group during the fourth quarter worth about $29,000. Mcguire Capital Advisors Inc. bought a new stake in American International Group during the fourth quarter worth about $29,000. SHP Wealth Management acquired a new position in American International Group during the fourth quarter valued at approximately $34,000. Finally, CENTRAL TRUST Co boosted its position in American International Group by 48.7% during the first quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 151 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Stock Performance

Shares of NYSE AIG opened at $79.38 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $42.09 billion, a P/E ratio of 14.00, a P/E/G ratio of 0.72 and a beta of 0.53. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $87.29. The stock has a 50 day moving average of $76.98 and a 200-day moving average of $76.64.

Analysts Set New Price Targets

AIG has been the subject of several recent analyst reports. HSBC cut their price objective on American International Group from $94.00 to $88.00 and set a “buy” rating for the company in a report on Monday, July 6th. The Goldman Sachs Group upped their price target on shares of American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. BMO Capital Markets increased their price target on shares of American International Group from $83.00 to $89.00 in a research note on Thursday, May 7th. Piper Sandler reissued a “neutral” rating and issued a $80.00 price objective (down from $88.00) on shares of American International Group in a research report on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Seven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, American International Group presently has a consensus rating of “Hold” and an average target price of $88.22.

American International Group 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.