Sequoia Financial Advisors LLC Acquires 5,333 Shares of American International Group, Inc. $AIG

Sequoia Financial Advisors LLC grew its holdings in American International Group, Inc. (NYSE:AIG) by 26.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 25,786 shares of the insurance provider’s stock after purchasing an additional 5,333 shares during the period. Sequoia Financial Advisors LLC’s holdings in American International Group were worth $2,207,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AIG. GQG Partners LLC increased its stake in shares of American International Group by 33,315.0% in the 1st quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider’s stock valued at $1,643,995,000 after purchasing an additional 18,852,949 shares during the last quarter. Nuveen LLC bought a new stake in American International Group during the 1st quarter worth $440,273,000. AQR Capital Management LLC grew its position in American International Group by 184.4% during the 1st quarter. AQR Capital Management LLC now owns 3,335,040 shares of the insurance provider’s stock worth $287,214,000 after acquiring an additional 2,162,545 shares during the last quarter. Raymond James Financial Inc. grew its position in American International Group by 151.6% during the 1st quarter. Raymond James Financial Inc. now owns 3,285,963 shares of the insurance provider’s stock worth $285,682,000 after acquiring an additional 1,980,001 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in American International Group by 20.4% during the 1st quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider’s stock worth $974,840,000 after acquiring an additional 1,901,998 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Down 1.9%

Shares of NYSE:AIG opened at $81.30 on Thursday. The company has a market capitalization of $45.04 billion, a price-to-earnings ratio of 15.40, a P/E/G ratio of 0.82 and a beta of 0.68. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63. The business’s 50-day moving average is $80.01 and its 200-day moving average is $81.64. American International Group, Inc. has a 1 year low of $69.24 and a 1 year high of $88.07.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.21. The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.81 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same period in the previous year, the business earned $1.16 EPS. Equities research analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, September 16th. American International Group’s dividend payout ratio is 34.09%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group boosted their price objective on American International Group from $85.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Weiss Ratings restated a “buy (b)” rating on shares of American International Group in a research report on Wednesday, October 8th. Evercore ISI upped their price target on American International Group from $89.00 to $90.00 and gave the company an “in-line” rating in a research report on Wednesday, October 1st. Jefferies Financial Group upped their price target on American International Group from $96.00 to $99.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Finally, Piper Sandler reduced their price target on American International Group from $96.00 to $88.00 and set an “overweight” rating on the stock in a research report on Thursday, October 2nd. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.81.

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.