American International Group, Inc. $AIG Shares Newly Bought by VCI Wealth Management LLC

VCI Wealth Management LLC bought a new position in shares of American International Group, Inc. (NYSE:AIG – Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 22,927 shares of the insurance provider’s stock, valued at approximately $1,706,000.

Several other institutional investors have also recently made changes to their positions in the business. Wellington Management Group LLP raised its stake in American International Group by 6.9% during the 2nd quarter. Wellington Management Group LLP now owns 30,331,704 shares of the insurance provider’s stock valued at $2,260,622,000 after purchasing an additional 1,961,270 shares during the period. State Street Corp lifted its holdings in American International Group by 0.8% in the 2nd quarter. State Street Corp now owns 25,115,416 shares of the insurance provider’s stock worth $1,871,852,000 after purchasing an additional 196,969 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in American International Group by 6.1% in the 1st quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider’s stock worth $619,862,000 after purchasing an additional 474,035 shares during the period. Diamond Hill Capital Management LLC Investment Advisor bought a new position in American International Group in the 2nd quarter worth approximately $464,539,000. Finally, Dimensional Fund Advisors LP boosted its stake in American International Group by 5.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,142,278 shares of the insurance provider’s stock worth $462,147,000 after purchasing an additional 303,201 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insider Transactions at American International Group

In other news, insider Peter Zaffino sold 36,829 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $76.14, for a total transaction of $2,804,160.06. Following the sale, the insider directly owned 556,004 shares of the company’s stock, valued at $42,334,144.56. This represents a 6.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by insiders.

American International Group Trading Up 0.7%

Shares of AIG stock opened at $82.45 on Tuesday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $43.11 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 0.84 and a beta of 0.52. American International Group, Inc. has a 12-month low of $71.25 and a 12-month high of $87.29. The stock’s 50-day moving average price is $77.19 and its 200-day moving average price is $76.80.

American International Group (NYSE:AIG – Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The insurance provider reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. American International Group had a return on equity of 11.05% and a net margin of 11.13%. The company had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.25 billion. During the same period in the prior year, the company earned $1.81 earnings per share. Equities research analysts predict that American International Group, Inc. will post 8.07 EPS for the current fiscal year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. American International Group’s payout ratio is presently 36.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Morgan Stanley cut their price objective on shares of American International Group from $81.00 to $80.00 and set an “equal weight” rating for the company in a report on Tuesday, October 6th. Piper Sandler boosted their target price on shares of American International Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Keefe, Bruyette & Woods lowered their target price on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, October 12th. Barclays upped their target price on shares of American International Group from $80.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Finally, Wells Fargo & Company cut their target price on shares of American International Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research note on Monday, October 12th. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $87.68.

View Our Latest Analysis on AIG

About American International Group

(Free Report)

American International Group, Inc (NYSE:AIG) is a global insurance organization that provides property and casualty insurance products and related services to businesses, institutions, and individuals. Its offerings include commercial insurance, personal insurance, specialty coverage, accident and health products, and travel-related protection.

AIG serves customers through operations in the United States and international markets. Its commercial insurance business supports companies across industries with coverage such as property, casualty, liability, marine, and other specialty risks, while its personal insurance operations provide protection for individuals and families.

The company was founded in Shanghai in 1919 by Cornelius Vander Starr and is headquartered in New York City.

See Also

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Institutional Ownership by Quarter for American International Group (NYSE:AIG)

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