Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases 7,432 Shares of American International Group, Inc. $AIG

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in American International Group, Inc. (NYSE:AIG) by 21.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,366 shares of the insurance provider’s stock after purchasing an additional 7,432 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in American International Group were worth $3,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Modus Advisors LLC bought a new position in American International Group in the 4th quarter worth $27,000. Navalign LLC bought a new stake in American International Group during the fourth quarter valued at about $29,000. Mcguire Capital Advisors Inc. bought a new stake in American International Group during the fourth quarter valued at about $29,000. SHP Wealth Management purchased a new position in shares of American International Group in the fourth quarter valued at about $34,000. Finally, CENTRAL TRUST Co lifted its position in shares of American International Group by 48.7% in the first quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 151 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Price Performance

Shares of American International Group stock opened at $79.12 on Wednesday. The firm has a market cap of $41.95 billion, a PE ratio of 13.95, a PEG ratio of 0.73 and a beta of 0.53. The stock has a 50 day moving average of $76.33 and a 200 day moving average of $76.82. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $87.29.

American International Group (NYSE:AIG) last released its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.22. The business had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $7.03 billion. American International Group had a return on equity of 10.93% and a net margin of 11.86%.During the same quarter in the previous year, the company posted $1.17 EPS. On average, research analysts expect that American International Group, Inc. will post 8 EPS for the current fiscal year.

American International Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Monday, June 15th. American International Group’s payout ratio is 35.27%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Morgan Stanley cut their target price on American International Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, April 6th. Cantor Fitzgerald upgraded American International Group from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $85.00 to $92.00 in a research note on Thursday, July 9th. HSBC cut their price objective on shares of American International Group from $94.00 to $88.00 and set a “buy” rating for the company in a report on Monday, July 6th. Barclays lifted their price objective on shares of American International Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Finally, Weiss Ratings raised shares of American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.44.

American International Group Company 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.