Axxcess Wealth Management LLC Sells 978 Shares of American International Group, Inc. (NYSE:AIG)

Axxcess Wealth Management LLC lessened its holdings in American International Group, Inc. (NYSE:AIG) by 12.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,705 shares of the insurance provider’s stock after selling 978 shares during the quarter. Axxcess Wealth Management LLC’s holdings in American International Group were worth $488,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Duncker Streett & Co. Inc. purchased a new stake in American International Group during the fourth quarter worth $25,000. Asset Planning Inc purchased a new stake in shares of American International Group during the 4th quarter worth $26,000. True Wealth Design LLC purchased a new position in American International Group in the third quarter valued at about $29,000. BankPlus Trust Department purchased a new position in American International Group in the fourth quarter valued at about $36,000. Finally, Continuum Advisory LLC raised its holdings in American International Group by 60.7% in the third quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 207 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AIG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. BMO Capital Markets upped their price target on American International Group from $75.00 to $83.00 and gave the stock a “market perform” rating in a research report on Thursday, March 13th. Keefe, Bruyette & Woods raised their price objective on American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. UBS Group reduced their target price on American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $79.00 price target (down from $83.00) on shares of American International Group in a research note on Wednesday, January 8th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.31.

American International Group Stock Performance

Shares of AIG stock opened at $83.03 on Friday. American International Group, Inc. has a 52-week low of $69.00 and a 52-week high of $84.99. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21. The stock has a market cap of $49.27 billion, a PE ratio of -39.92, a price-to-earnings-growth ratio of 1.01 and a beta of 0.98. The business has a 50-day simple moving average of $77.45 and a 200-day simple moving average of $75.56.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. On average, equities analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.40 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a yield of 1.93%. American International Group’s payout ratio is -76.92%.

Insiders Place Their Bets

In other American International Group news, Director John G. Rice acquired 10,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $770,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.61% of the company’s stock.

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.