American International Group, Inc. $AIG Shares Sold by SteelPeak Wealth LLC

SteelPeak Wealth LLC cut its holdings in shares of American International Group, Inc. (NYSE:AIG) by 65.1% during the third quarter, Holdings Channel reports. The firm owned 15,944 shares of the insurance provider’s stock after selling 29,753 shares during the quarter. SteelPeak Wealth LLC’s holdings in American International Group were worth $1,252,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Twin Peaks Wealth Advisors LLC purchased a new stake in American International Group during the 2nd quarter worth about $32,000. GFG Capital LLC purchased a new stake in shares of American International Group in the 2nd quarter valued at approximately $33,000. Barrett & Company Inc. purchased a new stake in shares of American International Group in the 2nd quarter valued at approximately $35,000. NewSquare Capital LLC raised its stake in American International Group by 58.6% in the second quarter. NewSquare Capital LLC now owns 417 shares of the insurance provider’s stock valued at $36,000 after buying an additional 154 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of American International Group in the 2nd quarter valued at about $40,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AIG shares. JPMorgan Chase & Co. raised their price target on American International Group from $95.00 to $97.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Cantor Fitzgerald reissued a “neutral” rating on shares of American International Group in a report on Thursday, December 11th. Jefferies Financial Group boosted their price objective on shares of American International Group from $96.00 to $101.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of American International Group in a report on Monday. Finally, Wells Fargo & Company lifted their price target on shares of American International Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 12th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat.com, American International Group has a consensus rating of “Hold” and a consensus target price of $89.28.

American International Group Stock Down 1.5%

AIG stock opened at $84.26 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.32 and a quick ratio of 1.32. The company’s 50 day simple moving average is $80.09 and its 200-day simple moving average is $80.42. American International Group, Inc. has a 12 month low of $69.24 and a 12 month high of $88.07. The firm has a market capitalization of $45.46 billion, a PE ratio of 15.32, a P/E/G ratio of 0.79 and a beta of 0.62.

American International Group (NYSE:AIG) last posted its earnings results on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.63. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.82 billion. American International Group had a return on equity of 9.09% and a net margin of 11.89%.During the same quarter in the prior year, the company earned $1.23 EPS. Equities analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Tuesday, December 16th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Tuesday, December 16th. American International Group’s dividend payout ratio (DPR) is currently 32.73%.

About American International Group

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.