Brookstone Capital Management Cuts Stake in American International Group, Inc. (NYSE:AIG)

Brookstone Capital Management reduced its stake in shares of American International Group, Inc. (NYSE:AIGGet Rating) by 38.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,258 shares of the insurance provider’s stock after selling 7,797 shares during the quarter. Brookstone Capital Management’s holdings in American International Group were worth $631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in AIG. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of American International Group by 0.3% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,292 shares of the insurance provider’s stock valued at $3,345,000 after purchasing an additional 167 shares in the last quarter. Tyler Stone Wealth Management grew its holdings in shares of American International Group by 6.1% in the first quarter. Tyler Stone Wealth Management now owns 3,265 shares of the insurance provider’s stock valued at $205,000 after purchasing an additional 187 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of American International Group by 20.9% in the first quarter. Parkside Financial Bank & Trust now owns 1,110 shares of the insurance provider’s stock valued at $69,000 after purchasing an additional 192 shares in the last quarter. Goodwin Daniel L grew its holdings in shares of American International Group by 2.4% in the first quarter. Goodwin Daniel L now owns 9,625 shares of the insurance provider’s stock valued at $604,000 after purchasing an additional 225 shares in the last quarter. Finally, 44 Wealth Management LLC grew its holdings in shares of American International Group by 1.3% in the first quarter. 44 Wealth Management LLC now owns 18,497 shares of the insurance provider’s stock valued at $1,161,000 after purchasing an additional 229 shares in the last quarter. 90.18% of the stock is owned by hedge funds and other institutional investors.

American International Group Trading Down 2.1 %

American International Group stock opened at $51.21 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.61. American International Group, Inc. has a 52 week low of $48.40 and a 52 week high of $65.73. The company has a market capitalization of $38.94 billion, a price-to-earnings ratio of 3.36 and a beta of 1.17. The stock has a 50-day moving average price of $53.29 and a 200 day moving average price of $56.27.

American International Group (NYSE:AIGGet Rating) last released its earnings results on Monday, August 8th. The insurance provider reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). American International Group had a return on equity of 7.12% and a net margin of 22.23%. During the same period last year, the company posted $1.52 EPS. Sell-side analysts anticipate that American International Group, Inc. will post 5.03 EPS for the current year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Thursday, September 15th. American International Group’s dividend payout ratio (DPR) is 8.40%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AIG. StockNews.com lowered shares of American International Group from a “buy” rating to a “hold” rating in a report on Saturday, July 2nd. Credit Suisse Group lifted their target price on American International Group from $50.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, September 12th. Finally, Barclays cut their price target on American International Group from $63.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 14th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $65.29.

Insider Buying and Selling

In other American International Group news, major shareholder International Group American sold 80,000,000 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $21.00, for a total value of $1,680,000,000.00. Following the completion of the transaction, the insider now directly owns 501,145,000 shares of the company’s stock, valued at $10,524,045,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other American International Group news, EVP Luciana Fato sold 17,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $54.01, for a total value of $918,170.00. Following the completion of the transaction, the executive vice president now directly owns 45,444 shares of the company’s stock, valued at $2,454,430.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder International Group American sold 80,000,000 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $21.00, for a total value of $1,680,000,000.00. Following the transaction, the insider now directly owns 501,145,000 shares of the company’s stock, valued at $10,524,045,000. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

About American International Group

(Get Rating)

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment provides general liability, environmental, commercial automobile liability, workers' compensation, casualty, and crisis management insurance products; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, crop, and marine insurance.

Further Reading

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Institutional Ownership by Quarter for American International Group (NYSE:AIG)

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