Thu Sep 26 15:03:28 UTC 2024: ## AE Wealth Management Cuts Stake in American International Group
**New York, NY** – AE Wealth Management LLC significantly reduced its holdings in American International Group, Inc. (NYSE: AIG) during the second quarter, according to the company’s recent 13F filing. The institutional investor sold 60,124 shares, a reduction of 87.4%, leaving them with 8,654 shares valued at $642,000 as of the filing.
This move comes amidst a period of mixed activity from other institutional investors regarding AIG. While Forum Financial Management LP and Whittier Trust Co. of Nevada Inc. increased their positions in the insurance provider, Quent Capital LLC, New Republic Capital LLC, and Avantax Advisory Services Inc. also saw modest growth in their holdings.
Meanwhile, a significant insider transaction took place on August 7th, when major shareholder International Group American sold 8,032,129 shares for a total value of $200,000,012.10. This sale leaves the insider with 284,238,898 shares of the company’s stock.
American International Group’s stock opened at $73.02 on Thursday, with a market capitalization of $47.02 billion. The company reported $1.16 EPS for the second quarter, missing analysts’ estimates of $1.30.
While the company’s revenue was up .0% year-over-year, analysts expect AIG to post 5.24 EPS for the current fiscal year. The firm also recently announced a quarterly dividend of $0.40, payable on September 30th.
Overall, institutional investors own a significant 90.60% of AIG’s stock, indicating substantial interest in the company. However, the recent moves by AE Wealth Management and the insider sale suggest a level of uncertainty surrounding the company’s future prospects.
First Piper 