SeaBridge Investment Advisors LLC Cuts Stock Position in American International Group, Inc. (NYSE:AIG)

SeaBridge Investment Advisors LLC trimmed its holdings in shares of American International Group, Inc. (NYSE:AIG) by 23.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,607 shares of the insurance provider’s stock after selling 6,329 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in American International Group were worth $1,500,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc acquired a new stake in American International Group in the 3rd quarter worth about $26,000. True Wealth Design LLC purchased a new position in shares of American International Group in the third quarter valued at approximately $29,000. Fortitude Family Office LLC boosted its stake in shares of American International Group by 58.3% in the fourth quarter. Fortitude Family Office LLC now owns 570 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 210 shares during the last quarter. Continuum Advisory LLC increased its position in shares of American International Group by 60.7% during the third quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 207 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in American International Group in the 3rd quarter valued at $46,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Trading Down 2.5 %

AIG opened at $73.55 on Friday. American International Group, Inc. has a 52 week low of $67.53 and a 52 week high of $80.83. 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 fifty day simple moving average of $73.74 and a 200-day simple moving average of $74.61. The firm has a market cap of $45.88 billion, a P/E ratio of -21.70, a P/E/G ratio of 5.94 and a beta of 1.06.

American International Group (NYSE:AIG) last announced its earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. The company had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same period last year, the business posted $1.61 EPS. On average, equities analysts expect that American International Group, Inc. will post 4.89 earnings per share for the current year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 16th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Monday, December 16th. American International Group’s payout ratio is currently -47.20%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AIG. Keefe, Bruyette & Woods reduced their target price on shares of 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. Wells Fargo & Company increased their price objective on shares of American International Group from $76.00 to $77.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. Bank of America boosted their target price on American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $87.00 price target on shares of American International Group in a report on Wednesday, November 6th. Finally, UBS Group boosted their price objective on American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $84.13.

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.