Assetmark Inc. Lowers Stock Position in American International Group, Inc. (NYSE:AIG)

Assetmark Inc. cut its holdings in American International Group, Inc. (NYSE:AIG) by 16.9% during the third quarter, Holdings Channel reports. The institutional investor owned 41,819 shares of the insurance provider’s stock after selling 8,486 shares during the quarter. Assetmark Inc.’s holdings in American International Group were worth $3,062,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Christopher J. Hasenberg Inc purchased a new stake in shares of American International Group in the 3rd quarter worth approximately $26,000. Fortitude Family Office LLC boosted its holdings in American International Group by 199.2% in the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 239 shares in the last quarter. Y.D. More Investments Ltd purchased a new stake in shares of American International Group in the second quarter worth $27,000. Versant Capital Management Inc increased its holdings in shares of American International Group by 326.0% during the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 339 shares in the last quarter. Finally, NBC Securities Inc. raised its position in shares of American International Group by 241.6% in the 3rd quarter. NBC Securities Inc. now owns 673 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 476 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at American International Group

In other news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the transaction, the insider now owns 279,238,898 shares in the company, valued at $8,058,834,596.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.61% of the stock is currently owned by insiders.

American International Group Trading Down 0.7 %

Shares of NYSE:AIG opened at $74.87 on Wednesday. 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 $63.35 and a 12-month high of $80.83. The company has a market cap of $48.21 billion, a PE ratio of -22.09, a price-to-earnings-growth ratio of 7.47 and a beta of 1.05. The stock has a 50 day moving average of $75.12 and a 200 day moving average of $75.68.

American International Group (NYSE:AIG) last released its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. The company had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.49%. During the same quarter in the previous year, the company earned $1.61 EPS. As a group, equities research analysts expect that American International Group, Inc. will post 5.14 EPS for the current year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be given a dividend of $0.40 per share. The ex-dividend date is Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.14%. American International Group’s dividend payout ratio is -47.20%.

Analyst Ratings Changes

A number of research firms have weighed in on AIG. Bank of America raised their price objective on shares of American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. raised American International Group from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $93.00 to $89.00 in a research report on Thursday, October 10th. Jefferies Financial Group lifted their target price on American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Piper Sandler lowered their price target on American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Barclays assumed coverage on American International Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, American International Group currently has an average rating of “Moderate Buy” and a consensus target price of $84.13.

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.