EverSource Wealth Advisors LLC Sells 145 Shares of American International Group, Inc. (NYSE:AIG)

EverSource Wealth Advisors LLC lessened its stake in shares of American International Group, Inc. (NYSE:AIG) by 4.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,002 shares of the insurance provider’s stock after selling 145 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in American International Group were worth $238,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. 1832 Asset Management L.P. lifted its holdings in American International Group by 17.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 39,083 shares of the insurance provider’s stock valued at $2,902,000 after purchasing an additional 5,681 shares during the last quarter. Connecticut Wealth Management LLC raised its stake in shares of American International Group by 214.3% in the second quarter. Connecticut Wealth Management LLC now owns 183,094 shares of the insurance provider’s stock valued at $13,593,000 after acquiring an additional 124,846 shares during the last quarter. Symmetry Investments LP acquired a new position in shares of American International Group in the 2nd quarter worth approximately $2,457,000. Auxier Asset Management grew its position in American International Group by 1.8% during the 2nd quarter. Auxier Asset Management now owns 106,174 shares of the insurance provider’s stock worth $7,882,000 after acquiring an additional 1,850 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings in American International Group by 3.9% during the 2nd quarter. Pacer Advisors Inc. now owns 48,520 shares of the insurance provider’s stock valued at $3,602,000 after purchasing an additional 1,838 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on AIG. Piper Sandler reduced their price objective on American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Evercore ISI decreased their price objective on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, June 27th. Morgan Stanley dropped their target price on shares of American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. TD Cowen decreased their price target on shares of American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Finally, Citigroup dropped their price objective on shares of American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $83.88.

American International Group Stock Performance

Shares of NYSE:AIG opened at $73.02 on Thursday. The firm’s 50 day simple moving average is $74.38 and its 200 day simple moving average is $75.68. American International Group, Inc. has a fifty-two week low of $57.72 and a fifty-two week high of $80.83. The company has a market capitalization of $47.02 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 3.70 and a beta of 1.06. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67.

American International Group (NYSE:AIG) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.14). American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter last year, the business posted $1.75 earnings per share. The company’s revenue for the quarter was up .0% on a year-over-year basis. As a group, sell-side analysts forecast that American International Group, Inc. will post 5.24 earnings per share for the current year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.19%. American International Group’s payout ratio is 23.88%.

Insiders Place Their Bets

In other news, major shareholder International Group American sold 8,032,129 shares of American International Group stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the transaction, the insider now owns 284,238,898 shares in the company, valued at approximately $7,077,548,560.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 14,964,738 shares of company stock worth $400,732,195 over the last ninety days. 0.61% of the stock is currently owned by corporate insiders.

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.