Summit Trail Advisors LLC Lowers Stock Holdings in American International Group, Inc. (NYSE:AIG)

Summit Trail Advisors LLC cut its stake in shares of American International Group, Inc. (NYSE:AIG) by 8.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,420 shares of the insurance provider’s stock after selling 904 shares during the period. Summit Trail Advisors LLC’s holdings in American International Group were worth $690,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AIG. Swedbank AB purchased a new stake in shares of American International Group during the first quarter worth approximately $99,951,000. Diamond Hill Capital Management Inc. raised its position in American International Group by 5.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock worth $1,002,163,000 after buying an additional 722,237 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of American International Group by 83.6% in the 2nd quarter. Bank of Montreal Can now owns 1,312,741 shares of the insurance provider’s stock worth $97,825,000 after acquiring an additional 597,765 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of American International Group by 66.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,104,172 shares of the insurance provider’s stock valued at $80,858,000 after acquiring an additional 438,918 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in shares of American International Group by 2,493.5% during the second quarter. Marshall Wace LLP now owns 349,341 shares of the insurance provider’s stock worth $25,935,000 after acquiring an additional 335,871 shares during the period. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Price Performance

Shares of NYSE:AIG opened at $75.98 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. The business’s fifty day moving average price is $75.56 and its two-hundred day moving average price is $75.53. The stock has a market cap of $47.39 billion, a PE ratio of -22.41, a price-to-earnings-growth ratio of 7.54 and a beta of 1.05. American International Group, Inc. has a one year low of $64.54 and a one year high of $80.83.

American International Group (NYSE:AIG) last posted its quarterly earnings data 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 business had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same quarter last year, the company earned $1.61 earnings per share. On average, analysts forecast that American International Group, Inc. will post 5.12 EPS for the current fiscal year.

American International Group Announces Dividend

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 (DPR) is presently -47.20%.

Insider Activity

In other news, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the sale, the insider now owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. The trade was a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AIG. Wells Fargo & Company lowered their price objective on American International Group from $77.00 to $76.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. StockNews.com upgraded American International Group from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Bank of America raised their target price on American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. raised shares of American International Group from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $93.00 to $89.00 in a research note on Thursday, October 10th. Finally, Jefferies Financial Group raised their price objective on shares of American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $84.80.

American International Group Company 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.