Prospera Financial Services Inc Sells 177 Shares of American International Group, Inc. (NYSE:AIG)

Prospera Financial Services Inc lessened its stake in shares of American International Group, Inc. (NYSE:AIG) by 3.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 4,347 shares of the insurance provider’s stock after selling 177 shares during the quarter. Prospera Financial Services Inc’s holdings in American International Group were worth $318,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AIG. Meeder Asset Management Inc. boosted its holdings in shares of American International Group by 9,003.5% during the third quarter. Meeder Asset Management Inc. now owns 69,915 shares of the insurance provider’s stock worth $5,120,000 after acquiring an additional 69,147 shares during the period. Caprock Group LLC lifted its holdings in American International Group by 5.8% during the 3rd quarter. Caprock Group LLC now owns 34,902 shares of the insurance provider’s stock worth $2,556,000 after purchasing an additional 1,921 shares during the last quarter. Claro Advisors LLC bought a new stake in American International Group in the 3rd quarter valued at $359,000. Atlanta Consulting Group Advisors LLC bought a new position in American International Group during the 3rd quarter worth $494,000. Finally, Empowered Funds LLC lifted its holdings in shares of American International Group by 8.7% during the third quarter. Empowered Funds LLC now owns 11,928 shares of the insurance provider’s stock worth $873,000 after buying an additional 958 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Up 0.1 %

AIG stock opened at $76.06 on Monday. The firm has a 50-day moving average price of $75.50 and a 200-day moving average price of $75.56. American International Group, Inc. has a 12 month low of $64.54 and a 12 month high of $80.83. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $47.44 billion, a P/E ratio of -22.44, a price-to-earnings-growth ratio of 7.52 and a beta of 1.05.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.10 by $0.13. The business had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. During the same quarter in the prior year, the firm earned $1.61 EPS. As a group, equities research analysts anticipate that American International Group, Inc. will post 5.13 EPS for the current fiscal year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be issued a $0.40 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.10%. American International Group’s payout ratio is presently -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 company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the transaction, the insider now directly owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This represents a 1.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

AIG has been the topic of a number of recent research reports. Piper Sandler lowered their price target on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Keefe, Bruyette & Woods dropped their price target on shares of American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. UBS Group boosted their price target on American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. StockNews.com upgraded American International Group from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, BMO Capital Markets downgraded American International Group from an “outperform” rating to a “market perform” rating and cut their target price for the company from $90.00 to $84.00 in a research report on Tuesday, October 15th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, American International Group has a consensus rating of “Moderate Buy” and a consensus target price of $84.80.

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.