Stablepoint Partners LLC Reduces Position in American International Group, Inc. (NYSE:AIG)

Stablepoint Partners LLC reduced its position in shares of American International Group, Inc. (NYSE:AIG) by 1.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 16,976 shares of the insurance provider’s stock after selling 193 shares during the period. Stablepoint Partners LLC’s holdings in American International Group were worth $1,324,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AIG. Fortitude Family Office LLC lifted its holdings in American International Group by 199.2% during the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after buying an additional 239 shares during the last quarter. Rise Advisors LLC acquired a new stake in shares of American International Group during the 1st quarter worth about $29,000. Valued Wealth Advisors LLC lifted its stake in American International Group by 303.3% during the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 276 shares during the last quarter. Versant Capital Management Inc boosted its holdings in American International Group by 326.0% in the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 339 shares in the last quarter. Finally, CENTRAL TRUST Co raised its holdings in American International Group by 123.8% during the first quarter. CENTRAL TRUST Co now owns 452 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Price Performance

Shares of NYSE:AIG opened at $76.69 on Thursday. American International Group, Inc. has a 52 week low of $57.72 and a 52 week high of $80.83. The company has a 50-day moving average price of $75.09 and a 200 day moving average price of $75.55. The company has a market cap of $49.38 billion, a P/E ratio of 11.45, a PEG ratio of 3.84 and a beta of 1.07. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22.

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

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. American International Group’s dividend payout ratio (DPR) is presently 23.88%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AIG shares. Barclays initiated coverage on shares of American International Group in a research report on Wednesday. They issued an “overweight” rating and a $90.00 price target for the company. Keefe, Bruyette & Woods decreased their target price on American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. StockNews.com lowered American International Group from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. Wells Fargo & Company decreased 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. Finally, Bank of America lifted their target price on shares of American International Group from $81.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $83.88.

Insider Activity

In related 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 transaction of $56,432,182.80. Following the sale, the insider now owns 292,271,027 shares of the company’s stock, valued at $8,534,313,988.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.61% of the company’s stock.

American International Group Profile

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.