Diversify Wealth Management LLC Has $648,000 Stake in American International Group, Inc. (NYSE:AIG)

Diversify Wealth Management LLC reduced its stake in American International Group, Inc. (NYSE:AIG) by 7.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,364 shares of the insurance provider’s stock after selling 659 shares during the period. Diversify Wealth Management LLC’s holdings in American International Group were worth $648,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in AIG. Christopher J. Hasenberg Inc acquired a new stake in American International Group in the third quarter valued at approximately $26,000. Fortitude Family Office LLC boosted its holdings 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 in the last quarter. Y.D. More Investments Ltd bought a new stake in American International Group during the 2nd quarter worth $27,000. Versant Capital Management Inc increased its holdings in American International Group by 326.0% in the 2nd quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 339 shares in the last quarter. Finally, NBC Securities Inc. raised its position in American International Group by 241.6% in the third quarter. NBC Securities Inc. now owns 673 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 476 shares during the last quarter. 90.60% of the stock is owned by institutional investors.

American International Group Price Performance

Shares of AIG opened at $75.88 on Friday. The firm has a market cap of $48.86 billion, a PE ratio of -58.82, a price-to-earnings-growth ratio of 3.88 and a beta of 1.06. American International Group, Inc. has a 52-week low of $60.82 and a 52-week high of $80.83. The business’s 50 day moving average price is $75.08 and its two-hundred day moving average price is $75.56. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.14). The company had revenue of $1.00 million for the quarter, compared to the consensus estimate of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The firm’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.75 earnings per share. On average, equities analysts anticipate that American International Group, Inc. will post 5.09 EPS for the current year.

Insider Activity

In related news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AIG. Evercore ISI reduced their price target on American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday, October 9th. BMO Capital Markets cut shares of American International Group from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $90.00 to $84.00 in a research report on Tuesday, October 15th. Morgan Stanley cut their price target on shares of American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Wells Fargo & Company decreased their price objective on American International Group from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Finally, UBS Group lifted their target price on American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, American International Group has an average rating of “Hold” and a consensus target price of $84.38.

About American International Group

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.