QRG Capital Management Inc. Has $16.34 Million Position in American International Group, Inc. (NYSE:AIG)

QRG Capital Management Inc. cut its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 16.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 223,099 shares of the insurance provider's stock after selling 42,999 shares during the quarter. QRG Capital Management Inc.'s holdings in American International Group were worth $16,338,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in AIG. Dimensional Fund Advisors LP raised its position in shares of American International Group by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 6,435,245 shares of the insurance provider's stock valued at $477,802,000 after buying an additional 269,188 shares during the last quarter. Clearbridge Investments LLC increased its holdings in American International Group by 0.6% in the 1st quarter. Clearbridge Investments LLC now owns 5,440,355 shares of the insurance provider's stock valued at $425,273,000 after purchasing an additional 31,340 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of American International Group by 6.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,148,482 shares of the insurance provider's stock valued at $233,743,000 after buying an additional 198,889 shares during the period. APG Asset Management N.V. increased its stake in American International Group by 13.3% during the second quarter. APG Asset Management N.V. now owns 2,200,252 shares of the insurance provider's stock worth $152,411,000 after purchasing an additional 258,700 shares during the period. Finally, National Pension Service lifted its holdings in American International Group by 5.1% during the 3rd quarter. National Pension Service now owns 2,186,421 shares of the insurance provider's stock worth $160,112,000 after buying an additional 105,213 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Stock Down 1.2 %

Shares of NYSE AIG traded down $0.94 on Tuesday, hitting $75.39. The company had a trading volume of 6,384,935 shares, compared to its average volume of 4,091,298. The business has a 50 day moving average of $75.14 and a two-hundred day moving average of $75.64. The firm has a market capitalization of $48.55 billion, a P/E ratio of -58.44, a PEG ratio of 5.21 and a beta of 1.05. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 12-month low of $62.52 and a 12-month high of $80.83.

American International Group (NYSE:AIG - Get Free Report) last released its earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.10 by $0.13. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The company had revenue of $6.75 billion during the quarter, compared to analysts' expectations of $6.62 billion. During the same period in the prior year, the business posted $1.61 EPS. As a group, equities research analysts forecast that American International Group, Inc. will post 4.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AIG shares. StockNews.com cut American International Group from a "hold" rating to a "sell" rating in a research note on Monday, August 5th. Morgan Stanley decreased their target price on American International Group from $82.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 10th. BMO Capital Markets cut American International Group from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $90.00 to $84.00 in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods lowered their price objective on shares of American International Group from $96.00 to $90.00 and set an "outperform" rating on the stock in a research note on Monday, August 12th. Finally, Evercore ISI cut 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 research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, American International Group currently has an average rating of "Hold" and a consensus price target of $84.38.

Insider Activity

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 completion of the transaction, the insider now owns 279,238,898 shares of the company's stock, valued at approximately $8,058,834,596.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.61% of the company's stock.

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.