Kingsview Wealth Management LLC Sells 35,073 Shares of American International Group, Inc. $AIG

Kingsview Wealth Management LLC lowered its holdings in shares of American International Group, Inc. (NYSE:AIG) by 82.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 7,487 shares of the insurance provider’s stock after selling 35,073 shares during the quarter. Kingsview Wealth Management LLC’s holdings in American International Group were worth $641,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of American International Group by 11.6% during the 3rd quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider’s stock valued at $5,378,635,000 after buying an additional 7,117,583 shares in the last quarter. Capital Research Global Investors grew its position in American International Group by 79.6% in the third quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider’s stock worth $2,241,091,000 after acquiring an additional 12,645,616 shares in the last quarter. Wellington Management Group LLP grew its position in American International Group by 7.9% in the third quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock worth $2,045,657,000 after acquiring an additional 1,899,203 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in American International Group by 4.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 12,111,405 shares of the insurance provider’s stock worth $951,230,000 after acquiring an additional 499,330 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in American International Group by 22.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock worth $805,529,000 after acquiring an additional 1,846,979 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Price Performance

Shares of AIG stock opened at $73.84 on Wednesday. The stock has a 50 day moving average price of $76.12 and a 200 day moving average price of $77.55. American International Group, Inc. has a 52-week low of $71.25 and a 52-week high of $87.46. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market capitalization of $39.15 billion, a P/E ratio of 13.02, a P/E/G ratio of 0.67 and a beta of 0.52.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, beating the consensus estimate of $1.89 by $0.22. American International Group had a return on equity of 10.93% and a net margin of 11.86%.The company had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $7.03 billion. During the same quarter in the prior year, the company posted $1.17 EPS. As a group, sell-side analysts predict that American International Group, Inc. will post 7.97 earnings per share for the current year.

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be issued a $0.50 dividend. The ex-dividend date is Monday, June 15th. This is a boost from American International Group’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.7%. American International Group’s dividend payout ratio (DPR) is currently 31.75%.

Analyst Ratings Changes

AIG has been the subject of several analyst reports. Piper Sandler lowered their price objective on American International Group from $95.00 to $88.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. Citigroup increased their price target on American International Group from $85.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, May 4th. JPMorgan Chase & Co. lowered their price target on American International Group from $97.00 to $86.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. Cantor Fitzgerald boosted their price objective on shares of American International Group from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Finally, HSBC raised their target price on shares of American International Group from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $88.06.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.