Register Financial Advisors LLC Lowers Stock Position in American International Group, Inc. (NYSE:AIG)

Register Financial Advisors LLC cut its holdings in American International Group, Inc. (NYSE:AIG) by 10.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,500 shares of the insurance provider’s stock after selling 300 shares during the quarter. Register Financial Advisors LLC’s holdings in American International Group were worth $186,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in American International Group during the 4th quarter valued at $746,005,000. Swedbank AB purchased a new stake in shares of American International Group during the 1st quarter worth about $99,951,000. Canada Pension Plan Investment Board grew its holdings in shares of American International Group by 98.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,893,990 shares of the insurance provider’s stock worth $148,053,000 after purchasing an additional 941,607 shares during the period. Balyasny Asset Management L.P. raised its holdings in American International Group by 95.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,221,724 shares of the insurance provider’s stock valued at $82,772,000 after buying an additional 597,661 shares during the period. Finally, Third Point LLC lifted its position in American International Group by 16.9% during the fourth quarter. Third Point LLC now owns 3,450,000 shares of the insurance provider’s stock valued at $233,738,000 after buying an additional 500,000 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Price Performance

NYSE:AIG traded down $0.08 during trading hours on Friday, reaching $72.06. 3,541,157 shares of the company’s stock were exchanged, compared to its average volume of 4,243,853. The company has a market capitalization of $47.82 billion, a P/E ratio of 10.76, a price-to-earnings-growth ratio of 2.48 and a beta of 1.07. American International Group, Inc. has a 12 month low of $57.02 and a 12 month high of $80.83. The business’s 50-day simple moving average is $75.26 and its two-hundred day simple moving average is $74.85. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.14). The company had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.64 billion. American International Group had a positive return on equity of 9.37% and a negative net margin of 1.54%. American International Group’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.75 EPS. Sell-side analysts expect that American International Group, Inc. will post 6.4 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, September 16th. This represents a $1.60 annualized dividend and a yield of 2.22%. American International Group’s dividend payout ratio (DPR) is presently 23.88%.

American International Group declared that its board has initiated a share repurchase plan on Wednesday, May 1st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to repurchase up to 19.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have recently weighed in on AIG. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $87.00 target price on shares of American International Group in a research report on Thursday, June 27th. Wells Fargo & Company reduced their target price on shares of American International Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Friday. HSBC cut shares of American International Group from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a research report on Wednesday, May 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $87.00 price target on shares of American International Group in a report on Tuesday, July 9th. Finally, BMO Capital Markets increased their target price on American International Group from $88.00 to $89.00 and gave the stock an “outperform” rating in a report on Monday, May 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $83.13.

Insider Buying and Selling at American International Group

In other American International Group news, major shareholder International Group American sold 1,932,609 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total value of $56,432,182.80. Following the transaction, the insider now directly owns 292,271,027 shares of the company’s stock, valued at approximately $8,534,313,988.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders have sold 39,964,738 shares of company stock worth $1,132,432,195. 0.61% of the stock is currently owned by company insiders.

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.