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

Axxcess Wealth Management LLC decreased its holdings in shares of American International Group, Inc. (NYSE:AIG) by 45.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,183 shares of the insurance provider’s stock after selling 9,205 shares during the quarter. Axxcess Wealth Management LLC’s holdings in American International Group were worth $830,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Capital Research Global Investors grew its stake in American International Group by 0.4% in the 4th quarter. Capital Research Global Investors now owns 41,770,175 shares of the insurance provider’s stock worth $2,829,930,000 after buying an additional 176,286 shares in the last quarter. Putnam Investments LLC grew its position in American International Group by 3.8% in the fourth quarter. Putnam Investments LLC now owns 8,245,693 shares of the insurance provider’s stock worth $558,646,000 after acquiring an additional 300,712 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in American International Group by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 6,435,245 shares of the insurance provider’s stock valued at $477,802,000 after acquiring an additional 269,188 shares during the last quarter. Clearbridge Investments LLC raised its position in American International Group by 0.6% during the first quarter. Clearbridge Investments LLC now owns 5,440,355 shares of the insurance provider’s stock valued at $425,273,000 after purchasing an additional 31,340 shares in the last quarter. Finally, Third Point LLC lifted its stake in 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 worth $233,738,000 after purchasing an additional 500,000 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling at American International Group

In other news, major shareholder International Group American sold 8,032,129 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the completion of the transaction, the insider now directly owns 284,238,898 shares in the company, valued at $7,077,548,560.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 14,964,738 shares of company stock valued at $400,732,195. Corporate insiders own 0.61% of the company’s stock.

American International Group Stock Up 0.8 %

AIG stock opened at $73.88 on Friday. The company has a market capitalization of $49.03 billion, a price-to-earnings ratio of 11.03, a price-to-earnings-growth ratio of 3.60 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. The business’s 50 day moving average price is $74.62 and its two-hundred day moving average price is $75.67. American International Group, Inc. has a fifty-two week low of $57.72 and a fifty-two week high of $80.83.

American International Group (NYSE:AIG) last posted its quarterly earnings data 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). American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter last year, the company posted $1.75 EPS. American International Group’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, analysts forecast that American International Group, Inc. will post 5.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Monday, September 16th. American International Group’s payout ratio is currently 23.88%.

Analyst Ratings Changes

Several equities analysts have recently commented on AIG shares. 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 report on Monday, August 12th. Barclays began coverage on shares of American International Group in a research note on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price target on the stock. Wells Fargo & Company cut their price objective on shares of American International Group from $79.00 to $77.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Evercore ISI decreased their target price on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, June 27th. Finally, StockNews.com lowered shares of American International Group from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $83.88.

American International Group Company 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.