Apollon Wealth Management LLC Purchases 1,199 Shares of American International Group, Inc. (NYSE:AIG)

Apollon Wealth Management LLC boosted its holdings in American International Group, Inc. (NYSE:AIG) by 7.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,009 shares of the insurance provider’s stock after acquiring an additional 1,199 shares during the quarter. Apollon Wealth Management LLC’s holdings in American International Group were worth $1,238,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Atlanta Consulting Group Advisors LLC bought a new position in American International Group during the third quarter valued at approximately $494,000. Artemis Investment Management LLP lifted its holdings in shares of American International Group by 115.9% during the 4th quarter. Artemis Investment Management LLP now owns 274,246 shares of the insurance provider’s stock valued at $19,965,000 after buying an additional 147,235 shares during the period. Beacon Investment Advisory Services Inc. lifted its holdings in shares of American International Group by 5.2% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 70,816 shares of the insurance provider’s stock valued at $5,155,000 after buying an additional 3,490 shares during the period. Merit Financial Group LLC purchased a new position in shares of American International Group in the 4th quarter worth $1,260,000. Finally, Williams & Novak LLC purchased a new stake in American International Group during the fourth quarter valued at $279,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Stock Performance

Shares of American International Group stock opened at $75.09 on Tuesday. The firm’s fifty day simple moving average is $73.44 and its 200-day simple moving average is $74.47. American International Group, Inc. has a 12 month low of $68.04 and a 12 month high of $80.83. The stock has a market capitalization of $46.84 billion, a price-to-earnings ratio of -22.15, a PEG ratio of 5.87 and a beta of 1.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of American International Group from $88.00 to $87.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $87.00 price target on shares of American International Group in a research report on Wednesday, November 6th. BMO Capital Markets downgraded shares of American International Group from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $90.00 to $84.00 in a research report on Tuesday, October 15th. JPMorgan Chase & Co. decreased their target price on American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Finally, Wells Fargo & Company boosted their price target on American International Group from $76.00 to $77.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, American International Group has an average rating of “Hold” and an average price target of $84.13.

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.