Symmetry Partners LLC Sells 603 Shares of American International Group, Inc. (NYSE:AIG)

Symmetry Partners LLC trimmed its position in American International Group, Inc. (NYSE:AIG) by 5.7% during the second quarter, HoldingsChannel.com reports. The fund owned 10,064 shares of the insurance provider’s stock after selling 603 shares during the quarter. Symmetry Partners LLC’s holdings in American International Group were worth $747,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AIG. Fortitude Family Office LLC increased its stake in shares of American International Group by 199.2% in the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 239 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of American International Group by 16.7% in the second quarter. Valeo Financial Advisors LLC now owns 17,680 shares of the insurance provider’s stock worth $1,313,000 after acquiring an additional 2,534 shares during the last quarter. CWM LLC boosted its stake in shares of American International Group by 7.2% in the 2nd quarter. CWM LLC now owns 12,989 shares of the insurance provider’s stock valued at $964,000 after purchasing an additional 874 shares in the last quarter. Park Avenue Securities LLC increased its position in American International Group by 6.7% during the 2nd quarter. Park Avenue Securities LLC now owns 24,513 shares of the insurance provider’s stock worth $1,820,000 after purchasing an additional 1,534 shares in the last quarter. Finally, First Bank & Trust lifted its stake in American International Group by 8.6% in the 2nd quarter. First Bank & Trust now owns 5,755 shares of the insurance provider’s stock valued at $427,000 after purchasing an additional 455 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other American International Group news, major shareholder International Group American sold 1,932,609 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total value of $56,432,182.80. Following the transaction, the insider now owns 292,271,027 shares in the company, valued at $8,534,313,988.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 39,964,738 shares of company stock valued at $1,132,432,195. Corporate insiders own 0.61% of the company’s stock.

American International Group Stock Performance

AIG traded down $0.27 during trading hours on Friday, hitting $71.87. The stock had a trading volume of 1,184,901 shares, compared to its average volume of 4,228,452. The company’s fifty day simple moving average is $75.39 and its 200 day simple moving average is $74.83. The stock has a market cap of $47.70 billion, a PE ratio of 10.70, a price-to-earnings-growth ratio of 2.48 and a beta of 1.07. American International Group, Inc. has a 1 year low of $57.02 and a 1 year high of $80.83. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05.

American International Group (NYSE:AIG) last released its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.37%. The firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the prior year, the company earned $1.75 EPS. The firm’s revenue was up .0% compared to the same quarter last year. Equities analysts anticipate that American International Group, Inc. will post 6.4 earnings per share for the current year.

American International Group announced that its board has approved a share repurchase program on Wednesday, May 1st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 19.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.23%. The ex-dividend date is Monday, September 16th. American International Group’s dividend payout ratio is currently 23.88%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AIG. Royal Bank of Canada reiterated an “outperform” rating and set a $87.00 price target on shares of American International Group in a report on Tuesday, July 9th. JPMorgan Chase & Co. raised their price objective on American International Group from $80.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $87.00 target price on shares of American International Group in a research report on Thursday, June 27th. StockNews.com downgraded shares of American International Group from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Citigroup dropped their price objective on shares of American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $83.13.

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.