SteelPeak Wealth LLC Sells 25,725 Shares of American International Group, Inc. (NYSE:AIG)

SteelPeak Wealth LLC lowered its holdings in American International Group, Inc. (NYSE:AIG) by 61.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 15,937 shares of the insurance provider’s stock after selling 25,725 shares during the period. SteelPeak Wealth LLC’s holdings in American International Group were worth $1,160,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Atlanta Consulting Group Advisors LLC acquired a new stake in American International Group during the third quarter worth about $494,000. Artemis Investment Management LLP grew its holdings in shares of American International Group by 115.9% during the 4th quarter. Artemis Investment Management LLP now owns 274,246 shares of the insurance provider’s stock worth $19,965,000 after purchasing an additional 147,235 shares in the last quarter. Beacon Investment Advisory Services Inc. increased its position in shares of American International Group by 5.2% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 70,816 shares of the insurance provider’s stock valued at $5,155,000 after purchasing an additional 3,490 shares during the period. Merit Financial Group LLC acquired a new position in shares of American International Group in the fourth quarter valued at $1,260,000. Finally, M&T Bank Corp lifted its position in American International Group by 329.0% in the third quarter. M&T Bank Corp now owns 98,964 shares of the insurance provider’s stock worth $7,247,000 after purchasing an additional 75,894 shares during the period. 90.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AIG has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their price target on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. StockNews.com raised shares of American International Group from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Evercore ISI lowered their price objective on American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 9th. BMO Capital Markets downgraded American International Group from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $90.00 to $84.00 in a research report on Tuesday, October 15th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $79.00 price target (down from $83.00) on shares of American International Group in a research report on Wednesday, January 8th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $84.13.

American International Group Price Performance

AIG opened at $75.46 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $47.07 billion, a P/E ratio of -22.26, a price-to-earnings-growth ratio of 5.89 and a beta of 1.06. The company’s 50 day simple moving average is $73.79 and its 200-day simple moving average is $74.63. American International Group, Inc. has a one year low of $67.53 and a one year high of $80.83.

American International Group (NYSE:AIG) 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. The company had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same period last year, the firm earned $1.61 EPS. Sell-side analysts anticipate that American International Group, Inc. will post 4.89 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were issued a dividend of $0.40 per share. The ex-dividend date was Monday, December 16th. This represents a $1.60 annualized dividend and a yield of 2.12%. American International Group’s dividend payout ratio is currently -47.20%.

American International Group Company 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.