Evolve Private Wealth LLC Acquires New Holdings in American International Group, Inc. $AIG

Evolve Private Wealth LLC bought a new position in shares of American International Group, Inc. (NYSE:AIG) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 35,482 shares of the insurance provider’s stock, valued at approximately $2,645,000.

Several other institutional investors and hedge funds also recently modified their holdings of AIG. EP Wealth Advisors LLC raised its position in shares of American International Group by 31.3% during the 2nd quarter. EP Wealth Advisors LLC now owns 12,613 shares of the insurance provider’s stock worth $940,000 after purchasing an additional 3,010 shares during the last quarter. Ieq Capital LLC boosted its stake in shares of American International Group by 29.6% during the second quarter. Ieq Capital LLC now owns 65,907 shares of the insurance provider’s stock valued at $4,912,000 after acquiring an additional 15,040 shares during the last quarter. Callan Family Office LLC increased its position in American International Group by 2.0% during the 2nd quarter. Callan Family Office LLC now owns 26,313 shares of the insurance provider’s stock worth $1,961,000 after purchasing an additional 512 shares in the last quarter. Allworth Financial LP raised its stake in American International Group by 27.6% in the 2nd quarter. Allworth Financial LP now owns 14,275 shares of the insurance provider’s stock valued at $1,064,000 after purchasing an additional 3,085 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG boosted its stake in shares of American International Group by 84.7% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 34,506 shares of the insurance provider’s stock worth $2,572,000 after purchasing an additional 15,825 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on AIG. HSBC lowered their target price on shares of American International Group from $94.00 to $88.00 and set a “buy” rating for the company in a research note on Monday, July 6th. BMO Capital Markets lifted their price objective on American International Group from $83.00 to $89.00 in a research note on Thursday, May 7th. Morgan Stanley lowered their price target on American International Group from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Wednesday, August 12th. Wells Fargo & Company lowered their price objective on shares of American International Group from $89.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday, August 10th. Finally, Cantor Fitzgerald dropped their target price on American International Group from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. Seven investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, American International Group presently has a consensus rating of “Hold” and a consensus price target of $88.28.

American International Group Stock Up 0.7%

AIG stock opened at $76.30 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61. American International Group, Inc. has a 1-year low of $71.25 and a 1-year high of $87.29. The firm has a fifty day moving average price of $77.69 and a two-hundred day moving average price of $76.96. The firm has a market cap of $39.90 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 0.69 and a beta of 0.53.

American International Group (NYSE:AIG) last issued its earnings results on Thursday, August 6th. The insurance provider reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.08. American International Group had a net margin of 11.13% and a return on equity of 11.05%. The company had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.25 billion. During the same period in the prior year, the company earned $1.81 earnings per share. Research analysts predict that American International Group, Inc. will post 8.02 EPS for the current year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, September 16th. This represents a $2.00 annualized dividend and a yield of 2.6%. American International Group’s dividend payout ratio is 36.56%.

Insider Transactions at American International Group

In other American International Group news, insider Peter Zaffino sold 200,000 shares of American International Group stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $76.47, for a total value of $15,294,000.00. Following the completion of the transaction, the insider directly owned 592,833 shares in the company, valued at $45,333,939.51. The trade was a 25.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by corporate insiders.

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.