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American International Group, Inc. (NYSE:AIG) Shares Sold by Envestnet Portfolio Solutions Inc.

American International Group logo with Finance background

Envestnet Portfolio Solutions Inc. reduced its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 42.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,671 shares of the insurance provider's stock after selling 8,576 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in American International Group were worth $1,015,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in AIG. Duncker Streett & Co. Inc. acquired a new stake in shares of American International Group in the fourth quarter valued at approximately $25,000. Ameriflex Group Inc. purchased a new stake in American International Group in the 4th quarter valued at $29,000. BankPlus Trust Department acquired a new stake in American International Group during the 4th quarter worth $36,000. Whipplewood Advisors LLC purchased a new position in American International Group during the 4th quarter worth $40,000. Finally, NBC Securities Inc. acquired a new position in American International Group in the first quarter valued at $47,000. 90.60% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at American International Group

In other news, EVP Christopher Flatt sold 46,182 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the completion of the transaction, the executive vice president now directly owns 21,400 shares of the company's stock, valued at $1,781,764. This trade represents a 68.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.50% of the company's stock.

American International Group Price Performance

American International Group stock traded down $0.37 during mid-day trading on Friday, reaching $84.60. The company had a trading volume of 8,170,452 shares, compared to its average volume of 4,376,408. The stock's 50-day simple moving average is $83.52 and its 200-day simple moving average is $79.54. American International Group, Inc. has a 1 year low of $69.00 and a 1 year high of $88.07. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market capitalization of $48.76 billion, a P/E ratio of -31.80, a P/E/G ratio of 0.92 and a beta of 0.64.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.13. The business had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.89 billion. American International Group had a positive return on equity of 7.13% and a negative net margin of 7.05%. During the same quarter in the prior year, the firm posted $1.25 EPS. On average, equities analysts predict that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.13%. This is a boost from American International Group's previous quarterly dividend of $0.40. American International Group's dividend payout ratio (DPR) is currently -67.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Hsbc Global Res raised American International Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Evercore ISI lifted their target price on American International Group from $81.00 to $89.00 and gave the company an "in-line" rating in a research note on Tuesday, April 1st. Morgan Stanley boosted their target price on American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Jefferies Financial Group increased their price target on American International Group from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Finally, Barclays lifted their price objective on shares of American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $88.12.

Get Our Latest Report on American International Group

American International Group Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for American International Group (NYSE:AIG)

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