Wealthfront Advisers LLC Has $1.40 Million Position in American International Group, Inc. (NYSE:AIG)

Wealthfront Advisers LLC lowered its holdings in shares of American International Group, Inc. (NYSE:AIG) by 71.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,284 shares of the insurance provider’s stock after selling 48,165 shares during the quarter. Wealthfront Advisers LLC’s holdings in American International Group were worth $1,404,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Atlanta Consulting Group Advisors LLC acquired a new stake in American International Group in the 3rd quarter valued at approximately $494,000. Artemis Investment Management LLP raised its position in American International Group by 115.9% in 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 last quarter. Beacon Investment Advisory Services Inc. raised its position in American International Group by 5.2% in 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 last quarter. Merit Financial Group LLC acquired a new stake in American International Group in the 4th quarter valued at approximately $1,260,000. Finally, Williams & Novak LLC acquired a new stake in American International Group in the 4th quarter valued at approximately $279,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. BMO Capital Markets lifted their target price on American International Group from $75.00 to $83.00 and gave the company a “market perform” rating in a research report on Thursday. Wells Fargo & Company raised their price target on American International Group from $76.00 to $77.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. Morgan Stanley raised their price target on American International Group from $75.00 to $76.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. UBS Group decreased their price target on American International Group from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. Finally, Hsbc Global Res upgraded American International Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, American International Group presently has a consensus rating of “Moderate Buy” and an average price target of $84.31.

American International Group Stock Performance

AIG opened at $83.37 on Friday. The business has a fifty day simple moving average of $76.25 and a 200 day simple moving average of $75.31. The company has a market capitalization of $49.47 billion, a PE ratio of -40.08, a price-to-earnings-growth ratio of 1.01 and a beta of 0.98. American International Group, Inc. has a 1 year low of $69.00 and a 1 year high of $83.77. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67.

American International Group (NYSE:AIG) last released its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. Research analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.40 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.60 annualized dividend and a yield of 1.92%. American International Group’s dividend payout ratio is presently -76.92%.

Insider Buying and Selling at American International Group

In related news, Director John G. Rice acquired 10,000 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was purchased at an average cost of $77.00 per share, with a total value of $770,000.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $770,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.61% of the company’s stock.

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.