Spire Wealth Management trimmed its stake in American International Group, Inc. (NYSE:AIG – Free Report) by 11.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,017 shares of the insurance provider’s stock after selling 531 shares during the quarter. Spire Wealth Management’s holdings in American International Group were worth $243,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in AIG. Capital Research Global Investors increased its stake in American International Group by 1.2% in the second quarter. Capital Research Global Investors now owns 39,008,043 shares of the insurance provider’s stock valued at $2,244,521,000 after purchasing an additional 448,904 shares during the last quarter. Geode Capital Management LLC increased its stake in American International Group by 1.4% in the first quarter. Geode Capital Management LLC now owns 13,407,381 shares of the insurance provider’s stock valued at $673,990,000 after purchasing an additional 180,340 shares during the last quarter. Norges Bank acquired a new position in American International Group in the fourth quarter valued at $736,063,000. Bank of New York Mellon Corp increased its stake in American International Group by 3.8% during the third quarter. Bank of New York Mellon Corp now owns 11,131,560 shares of the insurance provider’s stock worth $674,573,000 after acquiring an additional 408,335 shares during the last quarter. Finally, Morgan Stanley increased its stake in American International Group by 55.1% during the fourth quarter. Morgan Stanley now owns 10,519,406 shares of the insurance provider’s stock worth $665,247,000 after acquiring an additional 3,738,346 shares during the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on AIG shares. Morgan Stanley upped their price target on American International Group from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 9th. Piper Sandler dropped their price target on American International Group from $81.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, November 6th. Wells Fargo & Company upped their price target on American International Group from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 17th. BMO Capital Markets upgraded American International Group from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $72.00 to $83.00 in a research note on Tuesday, December 19th. Finally, Royal Bank of Canada increased their target price on American International Group from $72.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, December 20th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $71.71.
American International Group Price Performance
Shares of NYSE AIG opened at $69.12 on Friday. American International Group, Inc. has a fifty-two week low of $45.66 and a fifty-two week high of $71.07. The business has a 50 day moving average price of $67.79 and a two-hundred day moving average price of $63.49. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The firm has a market cap of $48.53 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 0.97 and a beta of 1.02.
American International Group Company Profile
American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through General Insurance, and Life and Retirement segments. 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.
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