Cetera Investment Advisers Sells 34,112 Shares of American International Group, Inc. $AIG

Key Points

• Cetera Investment Advisers cut its AIG position by 35.8% in the first quarter, selling 34,112 shares and retaining 61,078 shares valued at approximately $4.6 million.
• Other major institutional investors increased their holdings, and institutional investors collectively own 90.6% of AIG’s outstanding stock.
• Analyst sentiment remains mixed, with seven Buy ratings and twelve Holds; the consensus rating is Hold with an average price target of $88.22, compared with AIG’s reported share price of $78.85.

Cetera Investment Advisers trimmed its position in American International Group, Inc. (NYSE:AIG - Free Report) by 35.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,078 shares of the insurance provider's stock after selling 34,112 shares during the period. Cetera Investment Advisers' holdings in American International Group were worth $4,596,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its holdings in shares of American International Group by 39.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider's stock valued at $1,400,613,000 after purchasing an additional 4,661,246 shares during the period. Franklin Resources Inc. lifted its holdings in shares of American International Group by 36.9% during the fourth quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider's stock worth $1,336,147,000 after purchasing an additional 4,210,363 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its position in American International Group by 22.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider's stock valued at $805,529,000 after buying an additional 1,846,979 shares during the last quarter. Bank of New York Mellon Corp boosted its position in American International Group by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider's stock valued at $619,862,000 after buying an additional 474,035 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in American International Group by 10.8% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,482,558 shares of the insurance provider's stock worth $640,133,000 after buying an additional 731,802 shares during the period. Institutional investors and hedge funds own 90.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AIG shares. Barclays increased their price target on American International Group from $78.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Friday, May 1st. Wells Fargo & Company raised their target price on American International Group from $85.00 to $89.00 and gave the stock an "equal weight" rating in a report on Thursday, July 9th. Morgan Stanley reduced their price target on American International Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research report on Monday, April 6th. HSBC decreased their price target on American International Group from $94.00 to $88.00 and set a "buy" rating for the company in a report on Monday, July 6th. Finally, BMO Capital Markets upped their price objective on American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. Seven analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $88.22.

American International Group Stock Performance

Shares of NYSE:AIG opened at $78.85 on Tuesday. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $87.29. The firm has a market capitalization of $41.81 billion, a PE ratio of 13.91, a P/E/G ratio of 0.72 and a beta of 0.52. The business's 50 day moving average price is $76.94 and its 200-day moving average price is $76.59. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65.

American International Group 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.

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