Evolve Private Wealth LLC purchased a new position in shares of American International Group, Inc. (NYSE:AIG – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 35,482 shares of the insurance provider’s stock, valued at approximately $2,645,000.
A number of other large investors have also modified their holdings of AIG. Modus Advisors LLC acquired a new position in American International Group during the 4th quarter valued at about $27,000. Navalign LLC acquired a new stake in shares of American International Group in the fourth quarter valued at approximately $29,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of American International Group in the fourth quarter valued at approximately $29,000. SHP Wealth Management bought a new stake in shares of American International Group during the fourth quarter valued at approximately $34,000. Finally, CENTRAL TRUST Co boosted its position in shares of American International Group by 48.7% during the first quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock worth $35,000 after buying an additional 151 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.
Wall Street Analyst Weigh In
AIG has been the topic of several recent analyst reports. Citigroup lifted their target price on American International Group from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Wells Fargo & Company cut their price objective on shares of American International Group from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Monday, August 10th. Morgan Stanley reduced their price objective on shares of American International Group from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Wednesday, August 12th. Royal Bank Of Canada increased their target price on shares of American International Group from $85.00 to $87.00 and gave the company a “sector perform” rating in a research report on Monday, August 10th. Finally, JPMorgan Chase & Co. raised their target price on shares of American International Group from $86.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Seven analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $88.28.
American International Group Trading Up 0.7%
Shares of AIG stock opened at $76.30 on Friday. The stock has a 50-day simple moving average of $77.69 and a 200 day simple moving average of $76.96. The stock has a market capitalization of $39.90 billion, a P/E ratio of 13.95, a P/E/G ratio of 0.69 and a beta of 0.53. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.29. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22.
American International Group (NYSE:AIG – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The insurance provider reported $2.00 EPS for the quarter, topping the consensus estimate of $1.92 by $0.08. American International Group had a net margin of 11.13% and a return on equity of 11.05%. The firm had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.25 billion. During the same period in the previous year, the business earned $1.81 earnings per share. On average, sell-side analysts expect that American International Group, Inc. will post 8.02 earnings per share for the current fiscal year.
American International Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a $0.50 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $2.00 annualized dividend and a yield of 2.6%. American International Group’s payout ratio is 36.56%.
Insider Transactions at American International Group
In other American International Group news, insider Peter Zaffino sold 200,000 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $76.47, for a total value of $15,294,000.00. Following the transaction, the insider owned 592,833 shares of the company’s stock, valued at approximately $45,333,939.51. This represents a 25.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.
American International Group Profile
American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.
The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.
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