Axxcess Wealth Management LLC Trims Position in American International Group, Inc. (NYSE:AIG)

Axxcess Wealth Management LLC decreased its position in shares of American International Group, Inc. (NYSE:AIG) by 12.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,705 shares of the insurance provider’s stock after selling 978 shares during the quarter. Axxcess Wealth Management LLC’s holdings in American International Group were worth $488,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of AIG. Duncker Streett & Co. Inc. purchased a new position in shares of American International Group in the fourth quarter valued at about $25,000. Asset Planning Inc purchased a new position in American International Group in the 4th quarter worth approximately $26,000. True Wealth Design LLC bought a new position in American International Group in the 3rd quarter worth approximately $29,000. BankPlus Trust Department purchased a new stake in American International Group during the 4th quarter valued at approximately $36,000. Finally, Whipplewood Advisors LLC bought a new stake in shares of American International Group during the fourth quarter valued at approximately $40,000. Institutional investors own 90.60% of the company’s stock.

Insider Transactions at American International Group

In other news, Director John G. Rice acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average price of $77.00 per share, with a total value of $770,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $770,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.61% of the company’s stock.

American International Group Stock Performance

American International Group stock opened at $83.03 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market capitalization of $49.27 billion, a P/E ratio of -39.92, a price-to-earnings-growth ratio of 1.01 and a beta of 0.98. American International Group, Inc. has a 1-year low of $69.00 and a 1-year high of $84.99. The company’s 50-day moving average is $77.45 and its 200 day moving average is $75.56.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. Research analysts forecast that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Monday, March 17th. American International Group’s dividend payout ratio is currently -76.92%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. HSBC upgraded shares of American International Group from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research report on Wednesday, March 5th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $79.00 target price (down from $83.00) on shares of American International Group in a report on Wednesday, January 8th. Keefe, Bruyette & Woods increased their price target on American International Group from $87.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, February 14th. Hsbc Global Res raised American International Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Finally, Morgan Stanley increased their target price on American International Group from $75.00 to $76.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.31.

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.