Avestar Capital LLC Buys 368 Shares of American International Group, Inc. (NYSE:AIG)

Avestar Capital LLC boosted its stake in American International Group, Inc. (NYSE:AIG) by 11.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,623 shares of the insurance provider’s stock after purchasing an additional 368 shares during the quarter. Avestar Capital LLC’s holdings in American International Group were worth $265,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in AIG. Christopher J. Hasenberg Inc purchased a new position in shares of American International Group during the 3rd quarter valued at about $26,000. Fortitude Family Office LLC boosted its position in shares of American International Group by 199.2% during the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 239 shares in the last quarter. Y.D. More Investments Ltd bought a new stake in shares of American International Group during the second quarter valued at approximately $27,000. Versant Capital Management Inc boosted its holdings in American International Group by 326.0% in the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 339 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in American International Group in the third quarter worth $46,000. Institutional investors own 90.60% of the company’s stock.

Insider Activity at American International Group

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the sale, the insider now directly owns 279,238,898 shares in the company, valued at $8,058,834,596.28. This represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.61% of the stock is owned by corporate insiders.

American International Group Stock Performance

NYSE AIG opened at $77.13 on Thursday. The firm has a market cap of $48.11 billion, a price-to-earnings ratio of -22.75, a price-to-earnings-growth ratio of 7.53 and a beta of 1.05. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $75.69 and a 200-day moving average price of $75.51. American International Group, Inc. has a twelve month low of $64.54 and a twelve month high of $80.83.

American International Group (NYSE:AIG) last released its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. The firm had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same quarter in the prior year, the company posted $1.61 earnings per share. As a group, equities research analysts predict that American International Group, Inc. will post 5.12 EPS for the current fiscal year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Monday, December 16th. American International Group’s payout ratio is presently -47.20%.

Analyst Ratings Changes

Several research firms have recently weighed in on AIG. Barclays began coverage on American International Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 price target for the company. TD Cowen reduced their price objective on 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. BMO Capital Markets cut American International Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $90.00 to $84.00 in a research report on Tuesday, October 15th. Jefferies Financial Group upped their price objective on American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods reduced their price objective on American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.80.

American International Group Profile

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.