Marcum Wealth LLC Has $374,000 Stake in American International Group, Inc. (NYSE:AIG)

Marcum Wealth LLC lowered its position in American International Group, Inc. (NYSE:AIG) by 7.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 5,043 shares of the insurance provider’s stock after selling 434 shares during the period. Marcum Wealth LLC’s holdings in American International Group were worth $374,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AIG. Whittier Trust Co. of Nevada Inc. grew its stake in shares of American International Group by 5.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,691 shares of the insurance provider’s stock worth $210,000 after acquiring an additional 136 shares in the last quarter. Sage Mountain Advisors LLC lifted its holdings in American International Group by 2.3% during the first quarter. Sage Mountain Advisors LLC now owns 6,700 shares of the insurance provider’s stock valued at $524,000 after purchasing an additional 148 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in American International Group by 0.6% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 25,011 shares of the insurance provider’s stock valued at $1,694,000 after purchasing an additional 154 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of American International Group by 0.9% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 18,553 shares of the insurance provider’s stock worth $1,257,000 after buying an additional 157 shares in the last quarter. Finally, New Republic Capital LLC lifted its holdings in shares of American International Group by 5.2% in the first quarter. New Republic Capital LLC now owns 3,290 shares of the insurance provider’s stock worth $257,000 after buying an additional 164 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Insider Activity

In other American International Group news, major shareholder International Group American sold 30,000,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $29.20, for a total transaction of $876,000,000.00. Following the sale, the insider now directly owns 294,203,636 shares of the company’s stock, valued at approximately $8,590,746,171.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder International Group American sold 30,000,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $29.20, for a total value of $876,000,000.00. Following the completion of the transaction, the insider now owns 294,203,636 shares of the company’s stock, valued at approximately $8,590,746,171.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director W Don Cornwell 1,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The disclosure for this trade can be found here. 0.61% of the stock is owned by company insiders.

American International Group Stock Performance

Shares of NYSE AIG traded down $1.84 during midday trading on Monday, hitting $70.13. 6,335,204 shares of the company’s stock were exchanged, compared to its average volume of 4,241,526. The firm has a market cap of $46.54 billion, a P/E ratio of 10.47, a PEG ratio of 2.48 and a beta of 1.07. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.29 and a quick ratio of 0.29. American International Group, Inc. has a twelve month low of $57.02 and a twelve month high of $80.83. The stock’s 50 day moving average price is $75.93 and its 200-day moving average price is $74.84.

American International Group (NYSE:AIG) last announced 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 firm had revenue of $1.00 million for the quarter, compared to analysts’ expectations 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 revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.75 earnings per share. Equities research analysts anticipate that American International Group, Inc. will post 6.4 EPS for the current year.

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

American International Group Dividend Announcement

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 issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Monday, September 16th. American International Group’s dividend payout ratio is presently 23.88%.

Wall Street Analyst Weigh In

AIG has been the topic of several research analyst reports. Morgan Stanley decreased their price objective on shares of 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. StockNews.com cut shares of American International Group from a “hold” rating to a “sell” rating in a research report on Monday. Citigroup reduced their price target on shares of American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, July 23rd. Wells Fargo & Company increased their price target on shares of American International Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, May 10th. Finally, HSBC lowered American International Group from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a research note on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $83.47.

About American International Group

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.