Uncommon Cents Investing LLC Invests $243,000 in American International Group, Inc. $AIG

Uncommon Cents Investing LLC purchased a new position in shares of American International Group, Inc. (NYSE:AIG) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 2,835 shares of the insurance provider’s stock, valued at approximately $243,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sachetta LLC increased its position in shares of American International Group by 194.5% during the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 249 shares during the last quarter. Hemington Wealth Management grew its position in shares of American International Group by 42.8% during the first quarter. Hemington Wealth Management now owns 474 shares of the insurance provider’s stock worth $41,000 after buying an additional 142 shares in the last quarter. WPG Advisers LLC purchased a new stake in American International Group during the first quarter worth approximately $47,000. NBC Securities Inc. purchased a new stake in American International Group during the first quarter worth approximately $47,000. Finally, SouthState Corp lifted its stake in American International Group by 798.5% in the first quarter. SouthState Corp now owns 584 shares of the insurance provider’s stock valued at $51,000 after buying an additional 519 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AIG shares. Wolfe Research started coverage on American International Group in a research note on Tuesday, September 16th. They issued a “peer perform” rating for the company. Keefe, Bruyette & Woods lowered their target price on American International Group from $97.00 to $91.00 and set an “outperform” rating on the stock in a report on Tuesday, August 12th. Citigroup began coverage on American International Group in a research report on Wednesday, August 13th. They set a “neutral” rating and a $85.00 price objective for the company. Cfra Research upgraded American International Group to a “moderate buy” rating in a research report on Monday, August 11th. Finally, William Blair upgraded American International Group to a “strong-buy” rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, American International Group presently has an average rating of “Moderate Buy” and an average price target of $88.27.

American International Group Price Performance

AIG opened at $78.00 on Monday. American International Group, Inc. has a 1 year low of $69.24 and a 1 year high of $88.07. The stock has a fifty day moving average price of $79.38 and a 200 day moving average price of $81.82. The stock has a market cap of $43.21 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 0.83 and a beta of 0.70. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.60 by $0.21. American International Group had a return on equity of 7.88% and a net margin of 11.51%.The firm had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the prior year, the firm posted $1.16 EPS. Analysts forecast that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a $0.45 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. American International Group’s dividend payout ratio is currently 34.09%.

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.