American International Group, Inc. (NYSE:AIG) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC cut its holdings in American International Group, Inc. (NYSE:AIG) by 7.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 15,810 shares of the insurance provider’s stock after selling 1,253 shares during the period. Apollon Wealth Management LLC’s holdings in American International Group were worth $1,158,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AIG. Christopher J. Hasenberg Inc purchased a new position in shares of American International Group in the third quarter worth approximately $26,000. Fortitude Family Office LLC grew its holdings in shares of American International Group by 199.2% in 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 during the last quarter. Y.D. More Investments Ltd bought a new stake in American International Group during the 2nd quarter worth about $27,000. Versant Capital Management Inc lifted its position in American International Group by 326.0% during the 2nd quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 339 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of American International Group in the 3rd quarter valued at approximately $46,000. 90.60% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.61% of the company’s stock.

American International Group Stock Performance

Shares of AIG opened at $75.75 on Friday. The stock has a market capitalization of $47.25 billion, a price-to-earnings ratio of -22.35, a price-to-earnings-growth ratio of 7.41 and a beta of 1.05. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. The stock’s 50-day simple moving average is $75.09 and its 200 day simple moving average is $75.68. American International Group, Inc. has a 52-week low of $63.39 and a 52-week high of $80.83.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. The business had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the previous year, the firm earned $1.61 EPS. Research analysts forecast that American International Group, Inc. will post 5.13 EPS for the current fiscal year.

American International Group Announces Dividend

The business 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. This represents a $1.60 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s dividend payout ratio (DPR) is -47.20%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AIG. Bank of America raised their target price 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. Wells Fargo & Company decreased their target price on American International Group from $77.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. Jefferies Financial Group boosted their price target on American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. StockNews.com raised American International Group from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Evercore ISI lowered their target price on American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 9th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, American International Group presently has an average rating of “Moderate Buy” and an average price target 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.