Spire Wealth Management Sells 166 Shares of American International Group, Inc. (NYSE:AIG)

Spire Wealth Management lessened its holdings in American International Group, Inc. (NYSE:AIG) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,205 shares of the insurance provider’s stock after selling 166 shares during the quarter. Spire Wealth Management’s holdings in American International Group were worth $379,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Christopher J. Hasenberg Inc acquired a new position in shares of American International Group during the 3rd quarter worth approximately $26,000. True Wealth Design LLC bought a new stake in shares of American International Group in the third quarter valued at approximately $29,000. Fortitude Family Office LLC grew its position in American International Group by 58.3% during the fourth quarter. Fortitude Family Office LLC now owns 570 shares of the insurance provider’s stock worth $41,000 after buying an additional 210 shares in the last quarter. Continuum Advisory LLC grew its position in American International Group by 60.7% during the third quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider’s stock worth $42,000 after buying an additional 207 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in American International Group during the 3rd quarter worth $46,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Price Performance

AIG stock opened at $74.60 on Friday. The company has a market capitalization of $46.53 billion, a P/E ratio of -22.00, a PEG ratio of 5.80 and a beta of 1.05. The company has a fifty day moving average price of $73.54 and a 200-day moving average price of $74.50. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. American International Group, Inc. has a 52-week low of $67.96 and a 52-week high of $80.83.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. The company had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same period last year, the company earned $1.61 earnings per share. As a group, equities analysts expect that American International Group, Inc. will post 4.89 EPS for the current year.

Analysts Set New Price Targets

AIG has been the subject of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on American International Group from $89.00 to $83.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. Keefe, Bruyette & Woods dropped their target price on shares of American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Wells Fargo & Company increased their price target on shares of American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. Bank of America boosted 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 report on Thursday, October 10th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $79.00 price target (down previously from $83.00) on shares of American International Group in a research note on Wednesday, January 8th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.