Focus Partners Advisor Solutions LLC Increases Position in American International Group, Inc. $AIG

Focus Partners Advisor Solutions LLC raised its position in American International Group, Inc. (NYSE:AIG) by 32.3% during the second quarter, Holdings Channel reports. The firm owned 16,217 shares of the insurance provider’s stock after buying an additional 3,957 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in American International Group were worth $1,388,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Patton Fund Management Inc. purchased a new stake in shares of American International Group during the second quarter worth $232,000. AIA Group Ltd increased its position in shares of American International Group by 169.6% during the first quarter. AIA Group Ltd now owns 10,368 shares of the insurance provider’s stock worth $901,000 after acquiring an additional 6,523 shares during the period. Townsquare Capital LLC increased its position in shares of American International Group by 5.4% during the first quarter. Townsquare Capital LLC now owns 115,129 shares of the insurance provider’s stock worth $10,009,000 after acquiring an additional 5,899 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of American International Group by 2.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,625 shares of the insurance provider’s stock worth $1,445,000 after purchasing an additional 355 shares in the last quarter. Finally, Truist Financial Corp grew its stake in shares of American International Group by 11.5% during the second quarter. Truist Financial Corp now owns 77,757 shares of the insurance provider’s stock worth $6,655,000 after purchasing an additional 7,997 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Wall Street Analysts Forecast Growth

AIG has been the subject of a number of analyst reports. Jefferies Financial Group boosted their target price on shares of American International Group from $96.00 to $99.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Evercore ISI upped their price objective on shares of American International Group from $89.00 to $90.00 and gave the company an “in-line” rating in a research note on Wednesday, October 1st. Morgan Stanley decreased their price objective on shares of American International Group from $85.00 to $84.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. Piper Sandler decreased their price objective on shares of American International Group from $96.00 to $88.00 and set an “overweight” rating for the company in a research note on Thursday, October 2nd. Finally, The Goldman Sachs Group upped their price objective on shares of American International Group from $85.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Two research 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.81.

American International Group Trading Up 0.4%

NYSE AIG opened at $79.30 on Tuesday. The stock has a market capitalization of $43.93 billion, a P/E ratio of 15.02, a P/E/G ratio of 0.78 and a beta of 0.68. American International Group, Inc. has a 52-week low of $69.24 and a 52-week high of $88.07. The firm has a 50-day moving average price of $79.89 and a 200 day moving average price of $81.39. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22.

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

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. American International Group’s dividend payout ratio (DPR) is 34.09%.

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.