Sagespring Wealth Partners LLC Grows Stock Holdings in American International Group, Inc. (NYSE:AIG)

Sagespring Wealth Partners LLC raised its holdings in shares of American International Group, Inc. (NYSE:AIG) by 136.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,764 shares of the insurance provider’s stock after acquiring an additional 5,637 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in American International Group were worth $849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in AIG. Jones Financial Companies Lllp lifted its holdings in American International Group by 54.3% during the 4th quarter. Jones Financial Companies Lllp now owns 12,690 shares of the insurance provider’s stock worth $924,000 after purchasing an additional 4,468 shares in the last quarter. Principal Securities Inc. boosted its holdings in American International Group by 94.4% in the 4th quarter. Principal Securities Inc. now owns 11,374 shares of the insurance provider’s stock valued at $828,000 after purchasing an additional 5,522 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in American International Group by 34.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 11,161 shares of the insurance provider’s stock valued at $813,000 after purchasing an additional 2,874 shares during the period. Empowered Funds LLC grew its position in shares of American International Group by 13.3% during the 4th quarter. Empowered Funds LLC now owns 13,513 shares of the insurance provider’s stock valued at $984,000 after purchasing an additional 1,585 shares in the last quarter. Finally, Brighton Jones LLC bought a new position in shares of American International Group in the fourth quarter worth $1,091,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Stock Down 1.4%

Shares of NYSE:AIG opened at $84.21 on Wednesday. The stock has a market capitalization of $48.53 billion, a P/E ratio of -31.66, a price-to-earnings-growth ratio of 0.93 and a beta of 0.64. The stock’s 50-day moving average price is $83.01 and its 200-day moving average price is $78.99. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.21. American International Group, Inc. has a 12-month low of $69.00 and a 12-month high of $88.07.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.13. American International Group had a positive return on equity of 7.13% and a negative net margin of 7.05%. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.89 billion. During the same period last year, the company earned $1.25 EPS. On average, equities analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a dividend of $0.45 per share. This is a positive change from American International Group’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Friday, June 13th. American International Group’s dividend payout ratio is currently -67.67%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AIG. Evercore ISI upped their target price on American International Group from $81.00 to $89.00 and gave the stock an “in-line” rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $91.00 target price (up from $83.00) on shares of American International Group in a research note on Tuesday, April 8th. UBS Group cut their price target on shares of American International Group from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. Wells Fargo & Company increased their price target on shares of American International Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. Finally, Barclays lifted their price objective on shares of American International Group from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.12.

Insider Buying and Selling at American International Group

In other American International Group news, EVP Christopher Flatt sold 46,182 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $83.26, for a total value of $3,845,113.32. Following the transaction, the executive vice president now owns 21,400 shares in the company, valued at approximately $1,781,764. The trade was a 68.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

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.