MAI Capital Management Sells 17,212 Shares of American International Group, Inc. (NYSE:AIG)

MAI Capital Management reduced its stake in shares of American International Group, Inc. (NYSE:AIG) by 55.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,082 shares of the insurance provider’s stock after selling 17,212 shares during the quarter. MAI Capital Management’s holdings in American International Group were worth $1,031,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AIG. Forum Financial Management LP lifted its position in American International Group by 1.1% in the second quarter. Forum Financial Management LP now owns 12,173 shares of the insurance provider’s stock worth $904,000 after buying an additional 128 shares during the last quarter. Quent Capital LLC grew its stake in shares of American International Group by 4.0% during the second quarter. Quent Capital LLC now owns 3,834 shares of the insurance provider’s stock valued at $285,000 after buying an additional 146 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in shares of American International Group by 4.9% during the 1st quarter. EP Wealth Advisors LLC now owns 3,536 shares of the insurance provider’s stock worth $276,000 after acquiring an additional 165 shares during the last quarter. Graypoint LLC boosted its stake in shares of American International Group by 2.0% during the third quarter. Graypoint LLC now owns 8,672 shares of the insurance provider’s stock valued at $635,000 after purchasing an additional 167 shares during the period. Finally, Spire Wealth Management boosted its position in American International Group by 4.4% in the 2nd quarter. Spire Wealth Management now owns 4,096 shares of the insurance provider’s stock valued at $304,000 after buying an additional 173 shares during the period. 90.60% of the stock is owned by institutional investors.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the sale, the insider now directly owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This trade represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.61% of the company’s stock.

American International Group Trading Up 1.9 %

NYSE:AIG opened at $76.09 on Friday. The firm has a market cap of $47.46 billion, a P/E ratio of -22.45, a PEG ratio of 7.45 and a beta of 1.05. The stock’s 50 day simple moving average is $75.44 and its 200-day simple moving average is $75.65. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 12-month low of $64.54 and a 12-month high of $80.83.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. 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 prior year, the company posted $1.61 EPS. Equities analysts anticipate that American International Group, Inc. will post 5.13 EPS for the current year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s payout ratio is currently -47.20%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AIG shares. Royal Bank of Canada reissued an “outperform” rating and set a $87.00 price target on shares of American International Group in a research report on Wednesday, November 6th. BMO Capital Markets cut American International Group from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $90.00 to $84.00 in a research report on Tuesday, October 15th. TD Cowen reduced 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. Barclays started coverage on American International Group in a research note on Wednesday, September 4th. They set an “overweight” rating and a $90.00 target price on the stock. Finally, Bank of America raised their price target on American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.80.

About American International Group

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.