Oppenheimer Asset Management Inc. Trims Stock Position in American International Group, Inc. (NYSE:AIG)

Oppenheimer Asset Management Inc. trimmed its holdings in American International Group, Inc. (NYSE:AIG) by 23.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 107,485 shares of the insurance provider’s stock after selling 33,166 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in American International Group were worth $7,871,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Forum Financial Management LP boosted its stake in shares of American International Group by 1.1% in the second quarter. Forum Financial Management LP now owns 12,173 shares of the insurance provider’s stock worth $904,000 after buying an additional 128 shares during the last quarter. Quent Capital LLC grew its stake in shares of American International Group by 4.0% during the 2nd quarter. Quent Capital LLC now owns 3,834 shares of the insurance provider’s stock worth $285,000 after purchasing an additional 146 shares during the period. Avantax Advisory Services Inc. grew its stake in shares of American International Group by 2.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 6,106 shares of the insurance provider’s stock worth $477,000 after purchasing an additional 165 shares during the period. EP Wealth Advisors LLC lifted its stake in shares of American International Group by 4.9% in the 1st quarter. EP Wealth Advisors LLC now owns 3,536 shares of the insurance provider’s stock valued at $276,000 after purchasing an additional 165 shares during the period. Finally, Graypoint LLC boosted its holdings in American International Group by 2.0% during the third quarter. Graypoint LLC now owns 8,672 shares of the insurance provider’s stock worth $635,000 after buying an additional 167 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AIG. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $87.00 price objective on shares of American International Group in a report on Wednesday, November 6th. Evercore ISI reduced their price target on American International Group from $79.00 to $78.00 and set an “in-line” rating for the company in a report on Wednesday, October 9th. Jefferies Financial Group increased their price target on American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Bank of America boosted their price objective on American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, TD Cowen decreased their target price on American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.13.

Insider Activity

In related news, major shareholder International Group American sold 5,000,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the sale, the insider now directly owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. The trade was a 1.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.61% of the company’s stock.

American International Group Trading Down 0.4 %

Shares of American International Group stock opened at $75.75 on Friday. American International Group, Inc. has a 1-year low of $63.39 and a 1-year high of $80.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market cap of $47.25 billion, a P/E ratio of -22.35, a P/E/G ratio of 7.41 and a beta of 1.05. The stock’s 50 day simple moving average is $75.09 and its 200-day simple moving average is $75.68.

American International Group (NYSE:AIG) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.13. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. The company had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the prior year, the business earned $1.61 EPS. Analysts predict that American International Group, Inc. will post 5.13 EPS for the current fiscal year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. American International Group’s dividend payout ratio is currently -47.20%.

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.