NewEdge Wealth LLC Reduces Position in American International Group, Inc. $AIG

NewEdge Wealth LLC trimmed its position in American International Group, Inc. (NYSE:AIG) by 70.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,711 shares of the insurance provider’s stock after selling 11,177 shares during the quarter. NewEdge Wealth LLC’s holdings in American International Group were worth $355,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AIG. Geneos Wealth Management Inc. increased its holdings in American International Group by 2.6% in the second quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock valued at $434,000 after buying an additional 129 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in American International Group by 2.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock worth $396,000 after buying an additional 130 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of American International Group by 12.6% during the 4th quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider’s stock worth $107,000 after acquiring an additional 140 shares in the last quarter. GW&K Investment Management LLC boosted its position in shares of American International Group by 8.1% during the 4th quarter. GW&K Investment Management LLC now owns 1,917 shares of the insurance provider’s stock worth $164,000 after acquiring an additional 144 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its holdings in shares of American International Group by 1.3% in the 1st quarter. Kestra Private Wealth Services LLC now owns 11,048 shares of the insurance provider’s stock valued at $831,000 after acquiring an additional 146 shares during 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 $80.23 on Thursday. The company’s 50 day simple moving average is $76.87 and its 200-day simple moving average is $76.49. The firm has a market cap of $42.54 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 0.74 and a beta of 0.53. American International Group, Inc. has a 12-month low of $71.25 and a 12-month high of $87.29. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23.

American International Group (NYSE:AIG) last released its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, beating the consensus estimate of $1.89 by $0.22. American International Group had a net margin of 11.86% and a return on equity of 10.93%. The firm had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $7.03 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. As a group, equities analysts predict that American International Group, Inc. will post 7.97 EPS for the current year.

Analyst Upgrades and Downgrades

AIG has been the topic of several research analyst reports. The Goldman Sachs Group raised their target price on American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. BMO Capital Markets increased their price target on shares of American International Group from $83.00 to $89.00 in a research note on Thursday, May 7th. Mizuho boosted their price objective on shares of American International Group from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Wells Fargo & Company upped their target price on shares of American International Group from $85.00 to $89.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Finally, Barclays increased their target price on shares of American International Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $88.22.

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.