Allworth Financial LP Cuts Position in American International Group, Inc. (NYSE:AIG)

Allworth Financial LP trimmed its position in American International Group, Inc. (NYSE:AIG) by 12.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,197 shares of the insurance provider’s stock after selling 742 shares during the quarter. Allworth Financial LP’s holdings in American International Group were worth $381,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Mayfair Advisory Group LLC purchased a new position in shares of American International Group in the 3rd quarter worth about $259,000. Bogart Wealth LLC raised its holdings in shares of American International Group by 1.2% in the 3rd quarter. Bogart Wealth LLC now owns 122,820 shares of the insurance provider’s stock worth $8,994,000 after purchasing an additional 1,440 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in shares of American International Group by 165.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 16,256 shares of the insurance provider’s stock worth $1,190,000 after purchasing an additional 10,137 shares during the period. Great Lakes Retirement Inc. raised its holdings in shares of American International Group by 4.0% in the 3rd quarter. Great Lakes Retirement Inc. now owns 6,441 shares of the insurance provider’s stock worth $472,000 after purchasing an additional 250 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in shares of American International Group during the 3rd quarter valued at about $40,060,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AIG shares. JPMorgan Chase & Co. upgraded American International Group from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $93.00 to $89.00 in a report on Thursday, October 10th. Bank of America raised their target price on American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Morgan Stanley lowered their price objective on American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Jefferies Financial Group raised their price objective on American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, UBS Group raised their price objective on American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, American International Group has a consensus rating of “Hold” and a consensus price target of $84.38.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction dated 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 in the company, valued at $8,058,834,596.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.61% of the company’s stock.

American International Group Trading Down 1.1 %

American International Group stock opened at $76.66 on Wednesday. The firm’s 50-day moving average is $75.01 and its 200-day moving average is $75.55. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67. American International Group, Inc. has a 1 year low of $59.89 and a 1 year high of $80.83. The company has a market cap of $49.37 billion, a P/E ratio of -59.43, a PEG ratio of 3.88 and a beta of 1.06.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the previous year, the business posted $1.75 earnings per share. The company’s quarterly revenue was up .0% compared to the same quarter last year. On average, equities analysts expect that American International Group, Inc. will post 5.09 earnings per share for the current year.

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.