Exchange Traded Concepts LLC Has $9.14 Million Holdings in American International Group, Inc. (NYSE:AIG)

Exchange Traded Concepts LLC increased its position in shares of American International Group, Inc. (NYSE:AIG) by 14.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,832 shares of the insurance provider’s stock after acquiring an additional 15,460 shares during the quarter. Exchange Traded Concepts LLC’s holdings in American International Group were worth $9,141,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Ritholtz Wealth Management raised its holdings in shares of American International Group by 10.3% during the third quarter. Ritholtz Wealth Management now owns 36,956 shares of the insurance provider’s stock valued at $2,706,000 after acquiring an additional 3,451 shares during the period. Christopher J. Hasenberg Inc purchased a new position in American International Group during the third quarter valued at approximately $26,000. Watts Gwilliam & Co. LLC purchased a new position in American International Group during the third quarter valued at approximately $547,000. Sendero Wealth Management LLC grew its position in American International Group by 5.6% during the third quarter. Sendero Wealth Management LLC now owns 34,460 shares of the insurance provider’s stock valued at $2,524,000 after purchasing an additional 1,829 shares in the last quarter. Finally, Abner Herrman & Brock LLC grew its position in American International Group by 1.7% during the third quarter. Abner Herrman & Brock LLC now owns 149,796 shares of the insurance provider’s stock valued at $10,970,000 after purchasing an additional 2,550 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Insider Activity

In other news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the transaction, the insider now owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

AIG has been the topic of a number of research analyst reports. Barclays initiated coverage on shares of American International Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price objective on the stock. Wells Fargo & Company lowered their price objective 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, August 9th. Morgan Stanley lowered 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. JPMorgan Chase & Co. raised shares of American International Group from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $93.00 to $89.00 in a research report on Thursday. Finally, TD Cowen decreased their target price on shares of American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, American International Group presently has a consensus rating of “Moderate Buy” and an average price target of $84.50.

American International Group Price Performance

Shares of American International Group stock opened at $77.23 on Monday. The firm has a fifty day simple moving average of $73.76 and a 200-day simple moving average of $75.48. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 1-year low of $58.69 and a 1-year high of $80.83. The stock has a market capitalization of $51.26 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 3.88 and a beta of 1.06.

American International Group (NYSE:AIG) last released its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 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 negative net margin of 1.54% and a positive return on equity of 9.52%. American International Group’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.75 earnings per share. On average, sell-side analysts expect that American International Group, Inc. will post 5.09 earnings per share for the current year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.07%. The ex-dividend date was Monday, September 16th. American International Group’s payout ratio is currently 23.88%.

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.