Amplius Wealth Advisors LLC Sells 154 Shares of American International Group, Inc. $AIG

Amplius Wealth Advisors LLC lowered its holdings in American International Group, Inc. (NYSE:AIG) by 5.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,538 shares of the insurance provider’s stock after selling 154 shares during the quarter. Amplius Wealth Advisors LLC’s holdings in American International Group were worth $217,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sachetta LLC raised its position in shares of American International Group by 194.5% in the first quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 249 shares during the period. GFG Capital LLC bought a new stake in shares of American International Group in the second quarter valued at approximately $33,000. Barrett & Company Inc. purchased a new position in American International Group during the second quarter valued at approximately $35,000. Caitong International Asset Management Co. Ltd purchased a new position in American International Group during the second quarter valued at approximately $40,000. Finally, Hemington Wealth Management grew its stake in American International Group by 42.8% during the first quarter. Hemington Wealth Management now owns 474 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 142 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AIG. Jefferies Financial Group boosted their price objective on shares of American International Group from $96.00 to $99.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. The Goldman Sachs Group boosted their price objective on shares of American International Group from $85.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. JPMorgan Chase & Co. boosted their price objective on shares of American International Group from $95.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Keefe, Bruyette & Woods reduced their price objective on shares of American International Group from $97.00 to $91.00 and set an “outperform” rating for the company in a research note on Tuesday, August 12th. Finally, Piper Sandler reduced their price objective on shares of American International Group from $96.00 to $88.00 and set an “overweight” rating for the company in a research note on Thursday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.81.

American International Group Price Performance

AIG stock opened at $79.02 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63. American International Group, Inc. has a one year low of $69.24 and a one year high of $88.07. The stock has a market cap of $43.78 billion, a PE ratio of 14.97, a P/E/G ratio of 0.77 and a beta of 0.68. The firm has a 50 day simple moving average of $79.56 and a two-hundred day simple moving average of $81.30.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.21. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The business had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the previous year, the company earned $1.16 EPS. On average, analysts predict that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 16th. American International Group’s payout ratio is currently 34.09%.

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.