American International Group, Inc. $AIG Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its holdings in American International Group, Inc. (NYSE:AIG) by 2.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,158,435 shares of the insurance provider’s stock after selling 29,295 shares during the quarter. Envestnet Asset Management Inc. owned about 0.21% of American International Group worth $90,983,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC purchased a new position in shares of American International Group in the 4th quarter valued at $1,091,000. Sivia Capital Partners LLC boosted its stake in American International Group by 30.7% in the second quarter. Sivia Capital Partners LLC now owns 5,050 shares of the insurance provider’s stock valued at $432,000 after acquiring an additional 1,185 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of American International Group during the second quarter worth about $42,000. DAVENPORT & Co LLC increased its position in shares of American International Group by 8.1% during the second quarter. DAVENPORT & Co LLC now owns 8,714 shares of the insurance provider’s stock worth $746,000 after purchasing an additional 654 shares in the last quarter. Finally, Blair William & Co. IL increased its position in shares of American International Group by 8.6% during the second quarter. Blair William & Co. IL now owns 17,323 shares of the insurance provider’s stock worth $1,483,000 after purchasing an additional 1,366 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Stock Performance

Shares of AIG opened at $76.71 on Friday. The stock has a market capitalization of $41.39 billion, a P/E ratio of 13.95, a P/E/G ratio of 0.58 and a beta of 0.61. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.32 and a current ratio of 1.32. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $88.07. The company’s fifty day moving average is $78.87 and its two-hundred day moving average is $78.91.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AIG. Cantor Fitzgerald dropped their price target on American International Group from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 14th. Bank of America lowered their target price on shares of American International Group from $89.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, January 16th. Wells Fargo & Company lifted their target price on shares of American International Group from $83.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, January 13th. Royal Bank Of Canada started coverage on shares of American International Group in a research note on Tuesday, November 25th. They set a “sector perform” rating and a $85.00 price target for the company. Finally, Jefferies Financial Group raised their price objective on shares of American International Group from $96.00 to $101.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $87.42.

About American International Group

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.