Diversify Advisory Services LLC Invests $796,000 in American International Group, Inc. $AIG

Diversify Advisory Services LLC purchased a new stake in shares of American International Group, Inc. (NYSE:AIG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,057 shares of the insurance provider’s stock, valued at approximately $796,000.

Several other hedge funds have also made changes to their positions in AIG. Norges Bank acquired a new position in American International Group in the 4th quarter worth approximately $636,782,000. Bank of New York Mellon Corp acquired a new stake in American International Group during the 2nd quarter valued at $496,890,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of American International Group in the second quarter valued at $464,539,000. Price T Rowe Associates Inc. MD lifted its stake in American International Group by 39.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock worth $1,400,613,000 after acquiring an additional 4,661,246 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of American International Group by 36.9% in the 4th quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock valued at $1,336,147,000 after purchasing an additional 4,210,363 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Stock Down 0.1%

AIG opened at $75.59 on Friday. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.29. The business has a 50-day moving average of $77.68 and a 200-day moving average of $76.97. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61. The company has a market capitalization of $39.53 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 0.69 and a beta of 0.53.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Thursday, August 6th. The insurance provider reported $2.00 EPS for the quarter, beating the consensus estimate of $1.92 by $0.08. The business had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.25 billion. American International Group had a return on equity of 11.05% and a net margin of 11.13%.During the same quarter in the previous year, the business posted $1.81 EPS. Equities research analysts forecast that American International Group, Inc. will post 8.01 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis 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 36,829 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $76.14, for a total value of $2,804,160.06. Following the completion of the sale, the insider directly owned 556,004 shares of the company’s stock, valued at $42,334,144.56. The trade was a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by company insiders.

Analyst Ratings Changes

AIG has been the subject of several research reports. Cantor Fitzgerald decreased their price target on shares of American International Group from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Monday. BMO Capital Markets upped their price objective on shares of American International Group from $83.00 to $89.00 in a research note on Thursday, May 7th. Mizuho increased their target price on shares of American International Group from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods lifted their target price on shares of American International Group from $95.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. Finally, Piper Sandler lifted their target price on shares of American International Group from $80.00 to $84.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Seven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $88.28.

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.