Crestwood Advisors Group LLC Reduces Stock Position in American International Group, Inc. (NYSE:AIG)

Crestwood Advisors Group LLC cut its stake in American International Group, Inc. (NYSE:AIG) by 3.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,739 shares of the insurance provider’s stock after selling 153 shares during the period. Crestwood Advisors Group LLC’s holdings in American International Group were worth $278,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in AIG. Fortitude Family Office LLC increased its stake in shares of American International Group by 199.2% during the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 239 shares in the last quarter. Rise Advisors LLC purchased a new position in shares of American International Group during the 1st quarter worth approximately $29,000. Valued Wealth Advisors LLC increased its stake in shares of American International Group by 303.3% during the 1st quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 276 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of American International Group by 326.0% during the 2nd quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 339 shares in the last quarter. Finally, CENTRAL TRUST Co increased its stake in shares of American International Group by 123.8% during the 1st quarter. CENTRAL TRUST Co now owns 452 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 250 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AIG. TD Cowen dropped their price objective on shares of American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. Royal Bank of Canada reissued an “outperform” rating and set a $87.00 price objective on shares of American International Group in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods dropped their price objective on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. BMO Capital Markets raised their price objective on shares of American International Group from $88.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday, May 13th. Finally, Morgan Stanley decreased their target price on shares of American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, American International Group presently has an average rating of “Hold” and a consensus price target of $83.47.

Insider Buying and Selling at American International Group

In other American International Group news, major shareholder International Group American sold 1,932,609 shares of American International Group stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total value of $56,432,182.80. Following the transaction, the insider now owns 292,271,027 shares in the company, valued at approximately $8,534,313,988.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.61% of the stock is owned by company insiders.

American International Group Stock Down 1.3 %

Shares of AIG opened at $76.03 on Wednesday. The firm has a market cap of $48.96 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 3.84 and a beta of 1.07. The company’s fifty day moving average is $75.04 and its two-hundred day moving average is $75.54. American International Group, Inc. has a fifty-two week low of $57.72 and a fifty-two week high of $80.83. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). The company had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.64 billion. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the business earned $1.75 EPS. Analysts forecast that American International Group, Inc. will post 5.24 earnings per share for the current year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.10%. American International Group’s dividend payout ratio (DPR) is presently 23.88%.

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.