Wealth Alliance Reduces Position in American International Group, Inc. (NYSE:AIG)

Wealth Alliance lessened its holdings in shares of American International Group, Inc. (NYSE:AIG) by 3.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,636 shares of the insurance provider’s stock after selling 331 shares during the period. Wealth Alliance’s holdings in American International Group were worth $790,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AIG. Swedbank AB purchased a new position in shares of American International Group during the first quarter valued at approximately $99,951,000. Canada Pension Plan Investment Board boosted its position in shares of American International Group by 98.9% during the first quarter. Canada Pension Plan Investment Board now owns 1,893,990 shares of the insurance provider’s stock valued at $148,053,000 after buying an additional 941,607 shares during the period. Balyasny Asset Management L.P. boosted its position in shares of American International Group by 95.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,221,724 shares of the insurance provider’s stock valued at $82,772,000 after buying an additional 597,661 shares during the period. Third Point LLC boosted its position in shares of American International Group by 16.9% during the fourth quarter. Third Point LLC now owns 3,450,000 shares of the insurance provider’s stock valued at $233,738,000 after buying an additional 500,000 shares during the period. Finally, Senator Investment Group LP boosted its holdings in shares of American International Group by 41.0% in the first quarter. Senator Investment Group LP now owns 1,517,466 shares of the insurance provider’s stock valued at $118,620,000 after purchasing an additional 441,048 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

Shares of AIG stock opened at $73.27 on Thursday. The business’s fifty day simple moving average is $74.68 and its 200-day simple moving average is $75.68. The company has a market cap of $48.63 billion, a PE ratio of 10.94, a PEG ratio of 3.60 and a beta of 1.06. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 12-month low of $57.72 and a 12-month high of $80.83.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). The business 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 for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the company posted $1.75 earnings per share. Analysts expect that American International Group, Inc. will post 5.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Monday, September 16th. American International Group’s payout ratio is presently 23.88%.

Insider Transactions at American International Group

In other news, major shareholder International Group American sold 1,932,609 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the transaction, the insider now directly owns 292,271,027 shares of the company’s stock, valued at $8,534,313,988.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 14,964,738 shares of company stock valued at $400,732,195. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

AIG has been the subject of a number of research reports. JPMorgan Chase & Co. boosted 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $87.00 price target on shares of American International Group in a report on Tuesday, July 9th. Morgan Stanley lowered their price target on American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Evercore ISI lowered their price target on American International Group from $81.00 to $78.00 and set an “in-line” rating for the company in a report on Thursday, June 27th. Finally, 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $83.88.

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.