Assetmark Inc. Decreases Stock Holdings in American International Group, Inc. (NYSE:AIG)

Assetmark Inc. lessened its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 16.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 41,819 shares of the insurance provider's stock after selling 8,486 shares during the period. Assetmark Inc.'s holdings in American International Group were worth $3,062,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Christopher J. Hasenberg Inc acquired a new position in shares of American International Group during the 3rd quarter valued at $26,000. Y.D. More Investments Ltd acquired a new position in American International Group during the second quarter worth $27,000. Fortitude Family Office LLC raised its holdings in American International Group by 199.2% during the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider's stock worth $27,000 after buying an additional 239 shares during the last quarter. Versant Capital Management Inc raised its holdings in American International Group by 326.0% during the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider's stock worth $33,000 after buying an additional 339 shares during the last quarter. Finally, NBC Securities Inc. raised its holdings in American International Group by 241.6% during the third quarter. NBC Securities Inc. now owns 673 shares of the insurance provider's stock worth $49,000 after buying an additional 476 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company's stock.

Insider Activity at American International Group

In other news, major shareholder International Group American sold 5,000,000 shares of the business's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the sale, the insider now owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.61% of the stock is currently owned by company insiders.

American International Group Stock Performance

Shares of American International Group stock traded up $1.23 on Wednesday, hitting $76.09. The stock had a trading volume of 4,096,818 shares, compared to its average volume of 4,124,534. The stock's 50-day simple moving average is $75.10 and its two-hundred day simple moving average is $75.68. American International Group, Inc. has a one year low of $63.39 and a one year high of $80.83. 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 (NYSE:AIG - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.13. The business had revenue of $6.75 billion for the quarter, compared to analysts' expectations 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 previous year, the business posted $1.61 earnings per share. As a group, equities analysts predict that American International Group, Inc. will post 5.13 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The business 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. This represents a $1.60 annualized dividend and a yield of 2.10%. The ex-dividend date is Monday, December 16th. American International Group's dividend payout ratio (DPR) is currently -47.20%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AIG shares. Piper Sandler lowered their price objective on shares of American International Group from $89.00 to $86.00 and set an "overweight" rating on the stock in a report on Friday, August 2nd. Barclays started coverage on shares of American International Group in a report on Wednesday, September 4th. They issued an "overweight" rating and a $90.00 target price for the company. StockNews.com upgraded shares of American International Group from a "sell" rating to a "hold" rating in a report on Friday, November 8th. Evercore ISI lowered their target price on shares of American International Group from $79.00 to $78.00 and set an "in-line" rating for the company in a report on Wednesday, October 9th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $87.00 target price on shares of American International Group in a report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $84.13.

About American International Group

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.