Wallace Advisory Group LLC Lowers Stake in American International Group, Inc. (NYSE:AIG)

Wallace Advisory Group LLC lowered its holdings in American International Group, Inc. (NYSE:AIG) by 3.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,138 shares of the insurance provider’s stock after selling 165 shares during the period. Wallace Advisory Group LLC’s holdings in American International Group were worth $381,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Fortitude Family Office LLC increased its position in shares of American International Group by 199.2% during the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 239 shares in the last quarter. Y.D. More Investments Ltd purchased a new stake in shares of American International Group during the second quarter worth approximately $27,000. Rise Advisors LLC bought a new stake in American International Group during the first quarter worth $29,000. Valued Wealth Advisors LLC increased its position in shares of American International Group by 303.3% during the 1st quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 276 shares during the last quarter. Finally, 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. Institutional investors own 90.60% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder International Group American sold 8,032,129 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total value of $200,000,012.10. Following the completion of the transaction, the insider now directly owns 284,238,898 shares in the company, valued at approximately $7,077,548,560.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AIG. Citigroup decreased their price target on American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods cut their price objective on American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. Morgan Stanley cut their price objective on American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Wells Fargo & Company dropped their price target on American International Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Finally, StockNews.com lowered American International Group from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $84.27.

American International Group Stock Performance

American International Group stock traded up $3.71 during mid-day trading on Friday, reaching $76.05. 4,193,428 shares of the stock traded hands, compared to its average volume of 4,166,136. The stock has a market capitalization of $50.47 billion, a PE ratio of 11.35, a price-to-earnings-growth 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, Inc. has a 12-month low of $58.69 and a 12-month high of $80.83. The business’s 50-day moving average is $73.87 and its 200-day moving average is $75.55.

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

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.40 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.10%. American International Group’s dividend payout ratio is presently 23.88%.

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.