Envestnet Asset Management Inc. Cuts Position in American International Group, Inc. $AIG

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

A number of other institutional investors and hedge funds have also made changes to their positions in AIG. Atlantic Union Bankshares Corp increased its holdings in shares of American International Group by 7,100.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 355 shares in the last quarter. State of Wyoming grew its position in American International Group by 11.7% during the third quarter. State of Wyoming now owns 4,960 shares of the insurance provider’s stock worth $390,000 after buying an additional 518 shares during the period. Jones Financial Companies Lllp increased its holdings in American International Group by 17.0% in the third quarter. Jones Financial Companies Lllp now owns 18,678 shares of the insurance provider’s stock valued at $1,457,000 after buying an additional 2,718 shares in the last quarter. Lebenthal Global Advisors LLC lifted its position in shares of American International Group by 69.0% during the 3rd quarter. Lebenthal Global Advisors LLC now owns 4,794 shares of the insurance provider’s stock valued at $377,000 after acquiring an additional 1,958 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in shares of American International Group by 8.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,046,367 shares of the insurance provider’s stock worth $82,181,000 after acquiring an additional 83,962 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Trading Up 1.0%

American International Group stock opened at $76.71 on Friday. The stock has a 50-day moving average price of $78.87 and a 200 day moving average price of $78.91. American International Group, Inc. has a 52 week low of $71.25 and a 52 week high of $88.07. The stock has a market cap of $41.39 billion, a PE ratio of 13.95, a P/E/G ratio of 0.58 and a beta of 0.61. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.22.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Wall Street Zen downgraded American International Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Barclays dropped their price target on American International Group from $88.00 to $81.00 and set an “equal weight” rating for the company in a research report on Thursday, January 8th. Royal Bank Of Canada started coverage on shares of American International Group in a research report on Tuesday, November 25th. They issued a “sector perform” rating and a $85.00 price objective on the stock. TD Cowen raised their target price on shares of American International Group from $86.00 to $90.00 and gave the company a “hold” rating in a report on Tuesday, December 16th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of American International Group from $91.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat.com, American International Group currently has a consensus rating of “Hold” and a consensus price target of $87.42.

American International Group Company Profile

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.