Assetmark Inc. Sells 10,751 Shares of American International Group, Inc. $AIG

Assetmark Inc. reduced its position in American International Group, Inc. (NYSE:AIG) by 27.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 27,732 shares of the insurance provider’s stock after selling 10,751 shares during the period. Assetmark Inc.’s holdings in American International Group were worth $2,178,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. raised its holdings in shares of American International Group by 6.1% during the 2nd quarter. Franklin Resources Inc. now owns 12,536,144 shares of the insurance provider’s stock worth $1,072,969,000 after acquiring an additional 716,209 shares in the last quarter. Diamond Hill Capital Management Inc. raised its stake in American International Group by 4.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 12,111,405 shares of the insurance provider’s stock valued at $951,230,000 after purchasing an additional 499,330 shares in the last quarter. Norges Bank bought a new position in American International Group during the second quarter valued at $787,724,000. Raymond James Financial Inc. grew its stake in shares of American International Group by 4.4% in the 2nd quarter. Raymond James Financial Inc. now owns 3,429,324 shares of the insurance provider’s stock worth $293,516,000 after buying an additional 143,361 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of American International Group by 1.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,390,248 shares of the insurance provider’s stock worth $266,270,000 after buying an additional 48,900 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Price Performance

AIG opened at $79.78 on Thursday. The business has a fifty day moving average of $78.95 and a 200 day moving average of $78.87. The stock has a market cap of $42.81 billion, a P/E ratio of 14.72, a PEG ratio of 0.61 and a beta of 0.61. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 52-week low of $71.25 and a 52-week high of $88.07.

American International Group (NYSE:AIG) last released its earnings results on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.06. The business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.99 billion. American International Group had a return on equity of 9.79% and a net margin of 11.56%.During the same quarter last year, the firm posted $1.30 earnings per share. As a group, sell-side analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, March 16th. American International Group’s payout ratio is 33.21%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AIG. Wall Street Zen downgraded shares of American International Group from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Evercore lowered their price objective on American International Group from $90.00 to $85.00 in a research note on Friday, January 23rd. Mizuho boosted their target price on American International Group from $83.00 to $86.00 and gave the company a “neutral” rating in a research report on Tuesday. Wells Fargo & Company increased their price target on American International Group from $85.00 to $87.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of American International Group in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $87.58.

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.