Cornercap Investment Counsel Inc. Sells 3,412 Shares of American International Group, Inc. (NYSE:AIG)

Cornercap Investment Counsel Inc. lessened its holdings in shares of American International Group, Inc. (NYSE:AIG) by 27.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,069 shares of the insurance provider’s stock after selling 3,412 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in American International Group were worth $664,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AIG. Christopher J. Hasenberg Inc purchased a new stake in shares of American International Group in the 3rd quarter worth about $26,000. Fortitude Family Office LLC lifted its holdings in American International Group by 199.2% in the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after buying an additional 239 shares during the period. Y.D. More Investments Ltd bought a new stake in American International Group during the 2nd quarter valued at approximately $27,000. Versant Capital Management Inc grew its holdings in shares of American International Group by 326.0% during the 2nd quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 339 shares during the period. Finally, Ashton Thomas Securities LLC bought a new position in shares of American International Group in the 3rd quarter worth approximately $46,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Price Performance

NYSE AIG opened at $75.77 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $47.26 billion, a price-to-earnings ratio of -22.35, a PEG ratio of 7.53 and a beta of 1.05. The stock has a 50-day moving average of $75.12 and a 200 day moving average of $75.68. American International Group, Inc. has a one year low of $63.57 and a one year 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, beating the consensus estimate of $1.10 by $0.13. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. The firm had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the previous year, the company earned $1.61 earnings per share. On average, sell-side analysts forecast that American International Group, Inc. will post 5.13 EPS for the current year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Monday, December 16th. American International Group’s payout ratio is currently -47.20%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AIG shares. UBS Group upped their price target 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. TD Cowen reduced their target price on shares of American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. JPMorgan Chase & Co. raised shares of American International Group from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $93.00 to $89.00 in a research report on Thursday, October 10th. Wells Fargo & Company cut their price objective on shares of American International Group from $77.00 to $76.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. Finally, Evercore ISI lowered their target price on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating for the company in a report on Wednesday, October 9th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $84.13.

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 shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the sale, the insider now directly owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is owned by company insiders.

About American International Group

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.