AE Wealth Management LLC Reduces Stock Position in American International Group, Inc. (NYSE:AIG)

AE Wealth Management LLC lessened its stake in shares of American International Group, Inc. (NYSE:AIG) by 87.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,654 shares of the insurance provider’s stock after selling 60,124 shares during the quarter. AE Wealth Management LLC’s holdings in American International Group were worth $642,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Forum Financial Management LP increased its position in American International Group by 1.1% during the 2nd quarter. Forum Financial Management LP now owns 12,173 shares of the insurance provider’s stock worth $904,000 after purchasing an additional 128 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in American International Group by 5.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,691 shares of the insurance provider’s stock valued at $210,000 after buying an additional 136 shares during the period. Quent Capital LLC grew its holdings in 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. New Republic Capital LLC grew its holdings in American International Group by 5.2% in the 1st quarter. New Republic Capital LLC now owns 3,290 shares of the insurance provider’s stock valued at $257,000 after buying an additional 164 shares during the period. Finally, Avantax Advisory Services Inc. grew its holdings in 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. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insider Buying and Selling at American International Group

In other American International Group news, major shareholder International Group American sold 8,032,129 shares of the company’s 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 transaction, the insider now directly owns 284,238,898 shares of the company’s stock, valued at approximately $7,077,548,560.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 14,964,738 shares of company stock valued at $400,732,195 in the last three months. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on AIG. Barclays began coverage on American International Group in a report on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 price target for the company. TD Cowen lowered their price target on American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a report on Tuesday, August 13th. Piper Sandler lowered their price target on American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on American International Group from $80.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods reduced their price objective on American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $83.88.

American International Group Stock Performance

American International Group stock opened at $73.02 on Thursday. The stock’s 50 day moving average price is $74.38 and its 200 day moving average price is $75.68. The firm has a market capitalization of $47.02 billion, a PE ratio of 10.90, 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 quick ratio of 0.67 and a current ratio of 0.67. American International Group, Inc. has a one year low of $57.72 and a one year high of $80.83.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 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 analyst estimates 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 business’s revenue was up .0% on a year-over-year basis. During the same period last year, the firm posted $1.75 earnings per share. As a group, sell-side analysts expect that American International Group, Inc. will post 5.24 EPS for the current fiscal 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 given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Monday, September 16th. American International Group’s payout ratio is 23.88%.

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.