Axxcess Wealth Management LLC Lowers Stock Holdings in American International Group, Inc. (NYSE:AIG)

Axxcess Wealth Management LLC trimmed its position in shares of American International Group, Inc. (NYSE:AIG) by 31.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,683 shares of the insurance provider’s stock after selling 3,500 shares during the quarter. Axxcess Wealth Management LLC’s holdings in American International Group were worth $563,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Forum Financial Management LP boosted its stake in shares of American International Group by 1.1% in the 2nd quarter. Forum Financial Management LP now owns 12,173 shares of the insurance provider’s stock valued at $904,000 after buying an additional 128 shares during the period. Quent Capital LLC boosted its stake in shares of American International Group by 4.0% in the 2nd quarter. Quent Capital LLC now owns 3,834 shares of the insurance provider’s stock valued at $285,000 after buying an additional 146 shares during the period. Avantax Advisory Services Inc. boosted its stake in shares of American International Group by 2.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 6,106 shares of the insurance provider’s stock valued at $477,000 after buying an additional 165 shares during the period. EP Wealth Advisors LLC raised its position in shares of American International Group by 4.9% during the 1st quarter. EP Wealth Advisors LLC now owns 3,536 shares of the insurance provider’s stock worth $276,000 after acquiring an additional 165 shares in the last quarter. Finally, Graypoint LLC raised its position in shares of American International Group by 2.0% during the 3rd quarter. Graypoint LLC now owns 8,672 shares of the insurance provider’s stock worth $635,000 after acquiring an additional 167 shares in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AIG has been the topic of several research analyst reports. UBS Group raised their target price on American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. BMO Capital Markets lowered American International Group from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $90.00 to $84.00 in a research report on Tuesday, October 15th. JPMorgan Chase & Co. raised American International Group from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $93.00 to $89.00 in a research report on Thursday, October 10th. Keefe, Bruyette & Woods cut their price target on American International Group from $88.00 to $87.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Wells Fargo & Company cut their price target on American International Group from $77.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, American International Group has an average rating of “Moderate Buy” and a consensus price target of $84.13.

American International Group Trading Up 1.6 %

Shares of NYSE AIG opened at $76.09 on Thursday. The stock’s 50 day moving average price is $75.10 and its two-hundred day moving average price is $75.68. American International Group, Inc. has a 52-week low of $63.39 and a 52-week high of $80.83. The stock has a market capitalization of $47.46 billion, a P/E ratio of -22.45, a PEG ratio of 7.41 and a beta of 1.05. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. The business had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the prior year, the firm earned $1.61 EPS. On average, analysts anticipate that American International Group, Inc. will post 5.13 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s dividend payout ratio is currently -47.20%.

Insider Buying and Selling at American International Group

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction 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 completion of 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

American International Group 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.