Commonwealth Equity Services LLC Trims Stock Position in American International Group, Inc. (NYSE:AIG)

Commonwealth Equity Services LLC reduced its stake in American International Group, Inc. (NYSE:AIG) by 5.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 304,074 shares of the insurance provider’s stock after selling 17,406 shares during the quarter. Commonwealth Equity Services LLC’s holdings in American International Group were worth $22,574,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Rothschild Investment LLC acquired a new position in shares of American International Group during the second quarter worth about $9,752,000. Sabal Trust CO increased its position in American International Group by 3.0% during the 2nd quarter. Sabal Trust CO now owns 21,905 shares of the insurance provider’s stock worth $1,626,000 after purchasing an additional 639 shares during the period. Intact Investment Management Inc. raised its stake in shares of American International Group by 18.5% during the 2nd quarter. Intact Investment Management Inc. now owns 10,190 shares of the insurance provider’s stock worth $757,000 after buying an additional 1,590 shares in the last quarter. Americana Partners LLC lifted its holdings in shares of American International Group by 44.9% in the 2nd quarter. Americana Partners LLC now owns 126,937 shares of the insurance provider’s stock valued at $9,424,000 after buying an additional 39,315 shares during the period. Finally, Hantz Financial Services Inc. purchased a new stake in shares of American International Group in the second quarter valued at approximately $19,468,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Stock Performance

Shares of AIG opened at $77.05 on Tuesday. The company has a market capitalization of $49.62 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 3.84 and a beta of 1.07. 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 $57.72 and a 1 year high of $80.83. The company’s 50 day simple moving average is $75.01 and its 200 day simple moving average is $75.50.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). The business had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.75 EPS. On average, sell-side analysts predict that American International Group, Inc. will post 5.24 EPS for the current year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.08%. American International Group’s payout ratio is 23.88%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. BMO Capital Markets upped their price target on shares of American International Group from $88.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday, May 13th. HSBC cut shares of American International Group from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a report on Wednesday, May 15th. Morgan Stanley reduced their price target on shares of American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Citigroup lowered their price target on American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, July 23rd. Finally, Wells Fargo & Company reduced their price objective on American International Group from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $83.47.

Insiders Place Their Bets

In other news, major shareholder International Group American sold 8,032,129 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the completion of the sale, the insider now directly owns 284,238,898 shares in the company, valued at approximately $7,077,548,560.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.61% of the stock is currently owned by insiders.

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.