AssuredPartners Investment Advisors LLC Acquires New Shares in American International Group, Inc. (NYSE:AIG)

AssuredPartners Investment Advisors LLC acquired a new stake in American International Group, Inc. (NYSE:AIG) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 2,521 shares of the insurance provider’s stock, valued at approximately $219,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AIG. Brighton Jones LLC acquired a new position in American International Group during the 4th quarter worth $1,091,000. IFP Advisors Inc lifted its position in American International Group by 36.6% during the 4th quarter. IFP Advisors Inc now owns 2,137 shares of the insurance provider’s stock worth $156,000 after acquiring an additional 573 shares during the last quarter. BankPlus Trust Department acquired a new position in American International Group during the 4th quarter worth $36,000. Bank of New York Mellon Corp lifted its position in American International Group by 3.9% during the 4th quarter. Bank of New York Mellon Corp now owns 9,310,790 shares of the insurance provider’s stock worth $677,825,000 after acquiring an additional 347,982 shares during the last quarter. Finally, Sitrin Capital Management LLC lifted its position in American International Group by 0.7% during the 4th quarter. Sitrin Capital Management LLC now owns 91,686 shares of the insurance provider’s stock worth $6,675,000 after acquiring an additional 623 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Christopher Flatt sold 46,182 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the transaction, the executive vice president now directly owns 21,400 shares in the company, valued at approximately $1,781,764. This represents a 68.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

AIG has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their target price on shares of American International Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. The Goldman Sachs Group boosted their price objective on shares of American International Group from $79.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, April 1st. Barclays boosted 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. Evercore ISI boosted their price objective on shares of American International Group from $81.00 to $89.00 and gave the stock an “in-line” rating in a report on Tuesday, April 1st. Finally, Hsbc Global Res upgraded shares of American International Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, American International Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.12.

American International Group Price Performance

Shares of American International Group stock opened at $83.92 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $48.37 billion, a price-to-earnings ratio of -31.55, a P/E/G ratio of 0.93 and a beta of 0.64. American International Group, Inc. has a 1-year low of $69.00 and a 1-year high of $88.07. The firm’s 50-day moving average price is $83.37 and its two-hundred day moving average price is $79.34.

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

American International Group Increases Dividend

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

About American International Group

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.