Oppenheimer Asset Management Inc. Sells 33,166 Shares of American International Group, Inc. (NYSE:AIG)

Oppenheimer Asset Management Inc. lessened its holdings in shares of American International Group, Inc. (NYSE:AIG) by 23.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,485 shares of the insurance provider’s stock after selling 33,166 shares during the period. 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 have also recently modified their holdings of the company. Christopher J. Hasenberg Inc purchased a new position in American International Group during the 3rd quarter valued at $26,000. Fortitude Family Office LLC boosted its stake in shares of American International Group by 199.2% during the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 239 shares during the period. Y.D. More Investments Ltd bought a new position in shares of American International Group in the second quarter worth about $27,000. Versant Capital Management Inc increased its stake in American International Group by 326.0% in the 2nd quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after buying an additional 339 shares during the period. Finally, Ashton Thomas Securities LLC bought a new stake in American International Group during the 3rd quarter valued at about $46,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AIG shares. JPMorgan Chase & Co. raised shares of American International Group from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $93.00 to $89.00 in a research report on Thursday, October 10th. Barclays initiated coverage on American International Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 target price for the company. Bank of America increased their price target on American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Citigroup decreased their price objective on American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, July 23rd. Finally, Evercore ISI dropped their target price on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday, October 9th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, American International Group currently has a consensus rating of “Moderate Buy” and an average target price of $84.13.

Insider Buying and Selling at American International Group

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the sale, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is currently owned by company insiders.

American International Group Stock Performance

Shares of AIG stock opened at $75.75 on Friday. American International Group, Inc. has a 12-month low of $63.39 and a 12-month high of $80.83. The business’s fifty day simple moving average is $75.09 and its 200-day simple moving average is $75.68. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22. The company has a market cap of $47.25 billion, a PE ratio of -22.35, a PEG ratio of 7.41 and a beta of 1.05.

American International Group (NYSE:AIG) last released its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the business posted $1.61 earnings per share. Analysts expect that American International Group, Inc. will post 5.13 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.11%. The ex-dividend date is Monday, December 16th. American International Group’s dividend payout ratio is presently -47.20%.

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.