Trade Report: The 3,978 Shares of American International Group Inc. (AIG) are sold by Essex Financial Services Inc.

The 3,978 Shares of American International Group Inc. (AIG) are sold by Essex Financial Services Inc.

Essex Financial Services Inc. decreased its stake in shares of American International Group Inc. (NYSE:AIG) by 32.6% during the second quarter, Holdings Channel reports. The institutional investor owned 8,217 shares of the insurance provider’s stock after selling 3,978 shares during the period. Essex Financial Services Inc.’s holdings in American International Group were worth $435,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in AIG. RPg Family Wealth Advisory LLC raised its stake in shares of American International Group by 59.8% in the first quarter. RPg Family Wealth Advisory LLC now owns 2,483 shares of the insurance provider’s stock valued at $134,000 after buying an additional 929 shares in the last quarter. Mountain Lake Investment Management LLC purchased a new stake in shares of American International Group during the first quarter valued at about $135,000. Pointe Capital Management LLC raised its stake in shares of American International Group by 2.1% in the second quarter. Pointe Capital Management LLC now owns 3,786 shares of the insurance provider’s stock valued at $200,000 after buying an additional 79 shares in the last quarter. Canandaigua National Bank & Trust Co. purchased a new stake in shares of American International Group during the second quarter valued at about $211,000. Finally, Clear Harbor Asset Management LLC purchased a new stake in shares of American International Group during the first quarter valued at about $278,000. Institutional investors and hedge funds own 84.66% of the company’s stock.

American International Group Inc. (NYSE:AIG) traded up 0.72% during midday trading on Monday, reaching $60.29. The company had a trading volume of 5,158,610 shares. The stock has a 50-day moving average price of $59.15 and a 200 day moving average price of $56.46. American International Group Inc. has a 12-month low of $48.41 and a 12-month high of $64.31. The company’s market capitalization is $64.55 billion.

American International Group (NYSE:AIG) last issued its earnings results on Tuesday, August 2nd. The insurance provider reported $0.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.05. American International Group had a positive return on equity of 1.33% and a negative net margin of 0.64%. During the same period in the prior year, the firm posted $1.39 EPS. Equities analysts forecast that American International Group Inc. will post $4.05 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Tuesday, September 13th. American International Group’s dividend payout ratio is presently -799.95%.

AIG has been the topic of a number of recent analyst reports. Vetr downgraded American International Group from a “strong-buy” rating to a “buy” rating and set a $59.24 price objective on the stock. in a research note on Wednesday, June 22nd. Wells Fargo & Co. reissued a “buy” rating on shares of American International Group in a research note on Tuesday, June 28th. Atlantic Securities raised American International Group from a “neutral” rating to an “overweight” rating and set a $60.00 price objective on the stock in a research note on Thursday, June 30th. They noted that the move was a valuation call. Bank of America Corp. reissued a “buy” rating on shares of American International Group in a research note on Thursday, June 30th. Finally, Zacks Investment Research downgraded American International Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 5th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $65.10.

About American International Group

American International Group, Inc (AIG) is an insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products, mortgage insurance and other financial services to customers in over 100 countries and jurisdictions. The Company operates through two segments: Commercial Insurance and Consumer Insurance, as well as a Corporate and Other category.

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