United Asset Strategies Inc. Has $9.62 Million Stake in American International Group, Inc. (NYSE:AIG)

United Asset Strategies Inc. boosted its holdings in shares of American International Group, Inc. (NYSE:AIG) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 131,390 shares of the insurance provider’s stock after acquiring an additional 2,997 shares during the quarter. United Asset Strategies Inc.’s holdings in American International Group were worth $9,622,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AIG. Wealth Enhancement Advisory Services LLC increased its stake in shares of American International Group by 8.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 28,309 shares of the insurance provider’s stock worth $2,213,000 after purchasing an additional 2,106 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in American International Group by 13.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 627,917 shares of the insurance provider’s stock worth $49,084,000 after buying an additional 72,487 shares during the last quarter. Norden Group LLC boosted its stake in shares of American International Group by 46.8% during the 1st quarter. Norden Group LLC now owns 10,157 shares of the insurance provider’s stock worth $794,000 after acquiring an additional 3,237 shares in the last quarter. DecisionPoint Financial LLC acquired a new position in shares of American International Group during the 1st quarter valued at about $60,000. Finally, Diversify Advisory Services LLC acquired a new stake in American International Group in the 1st quarter worth approximately $734,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Price Performance

AIG stock traded down $0.41 during trading on Thursday, hitting $76.43. 845,267 shares of the stock traded hands, compared to its average volume of 4,067,713. The stock has a market cap of $49.22 billion, a price-to-earnings ratio of -59.57, a P/E/G ratio of 3.88 and a beta of 1.06. American International Group, Inc. has a one year low of $60.82 and a one year high of $80.83. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. The company has a 50 day simple moving average of $75.06 and a 200 day simple moving average of $75.56.

American International Group (NYSE:AIG) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). The firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.64 billion. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The business’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the firm posted $1.75 EPS. Equities analysts expect that American International Group, Inc. will post 5.09 EPS for the current fiscal year.

Insider Activity at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the transaction, the insider now directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Barclays initiated coverage on shares of American International Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 price objective for the company. StockNews.com downgraded American International Group from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. BMO Capital Markets downgraded shares of American International Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $90.00 to $84.00 in a report on Tuesday, October 15th. Morgan Stanley lowered their price target on American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. 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 research report on Friday, August 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, American International Group currently has an average rating of “Hold” and a consensus price target of $84.38.

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.