Kingsview Wealth Management LLC Purchases 423 Shares of American International Group, Inc. (NYSE:AIG)

Kingsview Wealth Management LLC boosted its position in American International Group, Inc. (NYSE:AIG) by 6.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,209 shares of the insurance provider’s stock after purchasing an additional 423 shares during the period. Kingsview Wealth Management LLC’s holdings in American International Group were worth $528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Cerity Partners LLC raised its stake in American International Group by 40.5% in the 3rd quarter. Cerity Partners LLC now owns 165,676 shares of the insurance provider’s stock valued at $12,132,000 after acquiring an additional 47,722 shares during the period. Great Valley Advisor Group Inc. raised its position in shares of American International Group by 3.7% in the third quarter. Great Valley Advisor Group Inc. now owns 5,758 shares of the insurance provider’s stock valued at $422,000 after purchasing an additional 208 shares during the period. Pacer Advisors Inc. lifted its stake in shares of American International Group by 108.4% during the 3rd quarter. Pacer Advisors Inc. now owns 101,134 shares of the insurance provider’s stock valued at $7,406,000 after buying an additional 52,614 shares in the last quarter. Landscape Capital Management L.L.C. boosted its holdings in American International Group by 73.7% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 6,208 shares of the insurance provider’s stock worth $455,000 after buying an additional 2,633 shares during the period. Finally, Intech Investment Management LLC grew its stake in American International Group by 15.8% in the 3rd quarter. Intech Investment Management LLC now owns 95,531 shares of the insurance provider’s stock valued at $6,996,000 after buying an additional 13,028 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AIG has been the subject of several recent research reports. TD Cowen reduced their price target on American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. JPMorgan Chase & Co. upgraded American International Group from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $93.00 to $89.00 in a research note on Thursday, October 10th. Piper Sandler decreased their price target on American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. StockNews.com upgraded shares of American International Group from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $87.00 target price on shares of American International Group in a report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.80.

Insider Activity

In other 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 transaction, the insider now owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This trade represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.

American International Group Price Performance

AIG opened at $77.13 on Thursday. The stock has a market capitalization of $48.11 billion, a P/E ratio of -22.75, a PEG ratio of 7.53 and a beta of 1.05. 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. The stock has a 50-day moving average price of $75.69 and a 200-day moving average price of $75.51.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. The business 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 8.63%. During the same period last year, the business earned $1.61 earnings per share. Equities analysts predict that American International Group, Inc. will post 5.12 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders 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 annualized dividend and a yield of 2.07%. American International Group’s payout ratio is -47.20%.

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.