Avestar Capital LLC Raises Position in American International Group, Inc. (NYSE:AIG)

Avestar Capital LLC lifted its holdings in American International Group, Inc. (NYSE:AIG) by 11.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,623 shares of the insurance provider’s stock after buying an additional 368 shares during the quarter. Avestar Capital LLC’s holdings in American International Group were worth $265,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Christopher J. Hasenberg Inc purchased a new stake in shares of American International Group in the third quarter worth approximately $26,000. Fortitude Family Office LLC increased its holdings in American International Group by 199.2% during the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 239 shares during the period. Y.D. More Investments Ltd purchased a new position in American International Group during the 2nd quarter worth $27,000. Versant Capital Management Inc increased its holdings in American International Group by 326.0% during the 2nd quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 339 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new position in American International Group during the 3rd quarter worth $46,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This represents a 1.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by insiders.

American International Group Stock Performance

Shares of AIG stock opened at $77.13 on Thursday. The stock has a market cap of $48.11 billion, a PE ratio of -22.75, a price-to-earnings-growth ratio of 7.53 and a beta of 1.05. The business has a 50-day simple moving average of $75.69 and a 200-day simple moving average of $75.51. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 52-week low of $64.54 and a 52-week high of $80.83.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.13. The business had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same quarter in the previous year, the firm posted $1.61 EPS. On average, equities analysts expect that American International Group, Inc. will post 5.12 EPS for the current year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be issued a $0.40 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. American International Group’s payout ratio is -47.20%.

Analyst Upgrades and Downgrades

Several research firms have commented on AIG. UBS Group raised their price objective on American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Wells Fargo & Company reduced 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. Royal Bank of Canada restated an “outperform” rating and set a $87.00 price objective on shares of American International Group in a report on Wednesday, November 6th. BMO Capital Markets downgraded 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 report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. upgraded American International Group from a “neutral” rating to an “overweight” rating and cut their price target for the company from $93.00 to $89.00 in a report on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, American International Group presently has a consensus rating of “Moderate Buy” and an average target price of $84.80.

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.