Wealthfront Inc. Cuts Stake in American International Group (AIG)

Wealthfront Inc. lessened its holdings in American International Group (NYSE:AIG) by 8.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,971 shares of the insurance provider’s stock after selling 1,173 shares during the quarter. Wealthfront Inc.’s holdings in American International Group were worth $706,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AIG. Private Trust Co. NA bought a new stake in shares of American International Group in the fourth quarter worth $213,000. Schwab Charles Investment Management Inc. lifted its position in shares of American International Group by 4.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,749,012 shares of the insurance provider’s stock worth $223,367,000 after purchasing an additional 155,545 shares in the last quarter. CAPROCK Group Inc. bought a new stake in shares of American International Group in the fourth quarter worth $212,000. Nepsis Capital Management Inc. lifted its position in shares of American International Group by 8.2% in the fourth quarter. Nepsis Capital Management Inc. now owns 74,496 shares of the insurance provider’s stock worth $4,438,000 after purchasing an additional 5,634 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in American International Group by 334.7% during the fourth quarter. State of Alaska Department of Revenue now owns 97,947 shares of the insurance provider’s stock worth $5,834,000 after acquiring an additional 75,415 shares in the last quarter. 88.84% of the stock is currently owned by institutional investors and hedge funds.

In other American International Group news, Director W Don Cornwell sold 2,500 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $58.78, for a total value of $146,950.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Claudine Macartney sold 2,052 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $59.61, for a total transaction of $122,319.72. The disclosure for this sale can be found here. 0.05% of the stock is owned by insiders.

Several research firms have issued reports on AIG. Credit Suisse Group set a $73.00 price target on shares of American International Group and gave the stock a “buy” rating in a research report on Monday, January 22nd. Barclays reaffirmed an “overweight” rating and set a $71.00 price target (up from $68.00) on shares of American International Group in a research report on Tuesday, February 20th. Bank of America raised shares of American International Group from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $59.40 to $58.28 in a research report on Friday, February 9th. Buckingham Research raised shares of American International Group from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $52.00 to $55.00 in a research report on Friday, April 27th. Finally, Zacks Investment Research lowered shares of American International Group from a “hold” rating to a “sell” rating in a research report on Monday, April 16th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $66.56.

American International Group opened at $52.92 on Tuesday, Marketbeat Ratings reports. American International Group has a one year low of $52.67 and a one year high of $53.00. The firm has a market capitalization of $47.44 billion, a price-to-earnings ratio of 22.05, a P/E/G ratio of 0.97 and a beta of 1.24. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.27 and a current ratio of 0.27.

American International Group (NYSE:AIG) last released its quarterly earnings data on Wednesday, May 2nd. The insurance provider reported $1.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by ($0.22). American International Group had a negative net margin of 13.03% and a positive return on equity of 2.65%. The company had revenue of $11.73 billion during the quarter, compared to analyst estimates of $11.60 billion. During the same quarter in the prior year, the firm earned $1.36 earnings per share. analysts predict that American International Group will post 4.95 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 28th. Shareholders of record on Thursday, June 14th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, June 13th. This represents a $1.28 annualized dividend and a dividend yield of 2.42%. American International Group’s dividend payout ratio is currently 53.33%.

American International Group Profile

American International Group, Inc provides insurance products for commercial, institutional, and individual customers primarily in the United States, Europe, and Japan. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, and marine insurance.

Institutional Ownership by Quarter for American International Group (NYSE:AIG)

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