Apollon Wealth Management LLC Sells 1,253 Shares of American International Group, Inc. (NYSE:AIG)

Apollon Wealth Management LLC reduced its holdings in shares of American International Group, Inc. (NYSE:AIG) by 7.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 15,810 shares of the insurance provider’s stock after selling 1,253 shares during the period. Apollon Wealth Management LLC’s holdings in American International Group were worth $1,158,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AIG. Empowered Funds LLC increased its holdings in American International Group by 20.9% during the 1st quarter. Empowered Funds LLC now owns 10,871 shares of the insurance provider’s stock worth $850,000 after purchasing an additional 1,877 shares during the period. Avantax Advisory Services Inc. lifted its position in 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 acquiring an additional 165 shares during the period. HBK Sorce Advisory LLC acquired a new position in shares of American International Group in the 1st quarter valued at about $618,000. Picton Mahoney Asset Management acquired a new position in shares of American International Group in the 1st quarter valued at about $78,000. Finally, Blair William & Co. IL increased its stake in shares of American International Group by 4.8% in the 1st quarter. Blair William & Co. IL now owns 26,753 shares of the insurance provider’s stock valued at $2,091,000 after purchasing an additional 1,222 shares in the last quarter. 90.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on AIG. BMO Capital Markets lowered American International Group from an “outperform” rating to a “market perform” rating and cut their price target for the company from $90.00 to $84.00 in a research note on Tuesday, October 15th. TD Cowen decreased their price objective on American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Keefe, Bruyette & Woods decreased their price target on American International Group from $88.00 to $87.00 and set an “outperform” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. upgraded American International Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $93.00 to $89.00 in a research note on Thursday, October 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $87.00 price objective on shares of American International Group in a research note on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.13.

American International Group Price Performance

Shares of AIG opened at $75.75 on Friday. American International Group, Inc. has a fifty-two week low of $63.39 and a fifty-two week high of $80.83. The company has a market capitalization of $47.25 billion, a price-to-earnings ratio of -22.35, a price-to-earnings-growth ratio of 7.41 and a beta of 1.05. The firm has a 50-day simple moving average of $75.09 and a 200-day simple moving average of $75.68. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65.

American International Group (NYSE:AIG) last announced 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. The firm had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. During the same quarter last year, the firm earned $1.61 earnings per share. On average, equities research analysts anticipate that American International Group, Inc. will post 5.13 earnings per share for the current year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend 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 payout ratio is -47.20%.

Insider Activity

In other news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the transaction, the insider now directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This trade represents a 1.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.61% of the company’s stock.

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.