Axxcess Wealth Management LLC Sells 9,205 Shares of American International Group, Inc. (NYSE:AIG)

Axxcess Wealth Management LLC decreased its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 45.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,183 shares of the insurance provider's stock after selling 9,205 shares during the quarter. Axxcess Wealth Management LLC's holdings in American International Group were worth $830,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. lifted its position in shares of American International Group by 23.3% during the fourth quarter. Avantax Advisory Services Inc. now owns 5,941 shares of the insurance provider's stock worth $403,000 after acquiring an additional 1,122 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in American International Group by 20.1% in the 4th quarter. Coldstream Capital Management Inc. now owns 9,675 shares of the insurance provider's stock worth $655,000 after purchasing an additional 1,617 shares during the period. TCW Group Inc. bought a new position in American International Group in the 4th quarter worth about $724,000. Team Hewins LLC bought a new stake in shares of American International Group during the fourth quarter valued at about $242,000. Finally, Skopos Labs Inc. purchased a new stake in shares of American International Group in the fourth quarter worth about $329,000. Hedge funds and other institutional investors own 90.60% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $87.00 target price on shares of American International Group in a report on Tuesday, July 9th. Wells Fargo & Company lowered their price objective on American International Group from $79.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Friday, August 9th. Citigroup reduced their target price on American International Group from $89.00 to $87.00 and set a "buy" rating for the company in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods dropped their price target on American International Group from $96.00 to $90.00 and set an "outperform" rating for the company in a research report on Monday, August 12th. Finally, Evercore ISI cut their price objective on American International Group from $81.00 to $78.00 and set an "in-line" rating for the company in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $83.88.

Insiders Place Their Bets

In other American International Group news, major shareholder International Group American sold 8,032,129 shares of the business's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total value of $200,000,012.10. Following the transaction, the insider now owns 284,238,898 shares in the company, valued at $7,077,548,560.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 14,964,738 shares of company stock valued at $400,732,195 in the last quarter. Insiders own 0.61% of the company's stock.

American International Group Trading Down 0.2 %

NYSE:AIG traded down $0.13 during trading hours on Friday, reaching $73.76. The company's stock had a trading volume of 15,166,934 shares, compared to its average volume of 4,205,992. The firm has a 50-day simple moving average of $74.62 and a 200-day simple moving average of $75.67. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67. American International Group, Inc. has a 1 year low of $57.72 and a 1 year high of $80.83. The firm has a market capitalization of $48.95 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 3.60 and a beta of 1.06.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.14). The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.64 billion. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The business's revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.75 EPS. Research analysts expect that American International Group, Inc. will post 5.24 EPS for the current fiscal year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 annualized dividend and a yield of 2.17%. American International Group's payout ratio is currently 23.88%.

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.