Premier Path Wealth Partners LLC Sells 718 Shares of American International Group, Inc. (NYSE:AIG)

Premier Path Wealth Partners LLC lessened its holdings in American International Group, Inc. (NYSE:AIG) by 11.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,639 shares of the insurance provider’s stock after selling 718 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in American International Group were worth $411,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Renaissance Technologies LLC bought a new position in American International Group during the second quarter worth about $20,123,000. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of American International Group by 9.3% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,184 shares of the insurance provider’s stock worth $830,000 after buying an additional 954 shares during the period. Ieq Capital LLC boosted its stake in American International Group by 10.1% in the 2nd quarter. Ieq Capital LLC now owns 27,370 shares of the insurance provider’s stock valued at $2,032,000 after buying an additional 2,515 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in American International Group by 14.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,899 shares of the insurance provider’s stock valued at $215,000 after acquiring an additional 376 shares during the period. Finally, Pacer Advisors Inc. raised its stake in American International Group by 3.9% during the second quarter. Pacer Advisors Inc. now owns 48,520 shares of the insurance provider’s stock worth $3,602,000 after acquiring an additional 1,838 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AIG shares. BMO Capital Markets downgraded shares of 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. Royal Bank of Canada reissued an “outperform” rating and issued a $87.00 target price on shares of American International Group in a report on Wednesday, November 6th. Jefferies Financial Group raised their price target on American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. StockNews.com raised American International Group from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, 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 research note on Thursday, October 10th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, American International Group currently has an average rating of “Hold” and a consensus price target of $84.13.

American International Group Stock Performance

Shares of AIG stock opened at $75.06 on Friday. The stock has a market cap of $46.82 billion, a PE ratio of -22.14, a price-to-earnings-growth ratio of 5.51 and a beta of 1.06. The stock has a 50-day moving average of $73.89 and a 200-day moving average of $74.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65. American International Group, Inc. has a one year low of $66.06 and a one year high of $80.83.

American International Group (NYSE:AIG) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, beating the consensus estimate 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 in the prior year, the firm earned $1.61 earnings per share. As a group, sell-side analysts expect that American International Group, Inc. will post 4.91 earnings per share for the current year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.13%. American International Group’s payout ratio is -47.20%.

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.