Parcion Private Wealth LLC Makes New $494,000 Investment in American International Group, Inc. $AIG

Parcion Private Wealth LLC acquired a new stake in American International Group, Inc. (NYSE:AIG) in the third quarter, HoldingsChannel reports. The fund acquired 6,642 shares of the insurance provider’s stock, valued at approximately $494,000.

Several other institutional investors also recently modified their holdings of AIG. Soltis Investment Advisors LLC raised its stake in American International Group by 100.8% in the third quarter. Soltis Investment Advisors LLC now owns 9,555 shares of the insurance provider’s stock valued at $711,000 after buying an additional 4,797 shares during the period. United Asset Strategies Inc. lifted its holdings in shares of American International Group by 3.5% during the third quarter. United Asset Strategies Inc. now owns 142,540 shares of the insurance provider’s stock worth $10,608,000 after buying an additional 4,876 shares in the last quarter. Interchange Capital Partners LLC boosted its position in shares of American International Group by 14.1% in the third quarter. Interchange Capital Partners LLC now owns 3,730 shares of the insurance provider’s stock valued at $277,000 after acquiring an additional 461 shares during the period. TOWER TRUST & INVESTMENT Co bought a new stake in shares of American International Group in the third quarter valued at about $676,000. Finally, North Dakota State Investment Board grew its stake in shares of American International Group by 32.1% in the third quarter. North Dakota State Investment Board now owns 21,181 shares of the insurance provider’s stock valued at $1,576,000 after acquiring an additional 5,141 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on AIG shares. Piper Sandler raised their price target on shares of American International Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. 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. Weiss Ratings restated a “buy (b-)” rating on shares of American International Group in a research report on Tuesday, September 29th. Morgan Stanley lowered their target price on shares of American International Group from $81.00 to $80.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 6th. Finally, Barclays lifted their price target on shares of American International Group from $80.00 to $81.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Eight analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $87.68.

American International Group Price Performance

Shares of NYSE AIG opened at $81.90 on Monday. The stock has a market capitalization of $42.82 billion, a P/E ratio of 14.97, a PEG ratio of 0.86 and a beta of 0.48. The stock’s fifty day moving average is $77.07 and its 200 day moving average is $76.75. American International Group, Inc. has a 52 week low of $71.25 and a 52 week high of $87.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Friday, August 7th. The insurance provider reported $2.00 earnings per share for the quarter, topping 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 net margin of 11.13% and a return on equity of 11.05%. During the same quarter in the prior year, the business posted $1.81 earnings per share. Sell-side analysts forecast that American International Group, Inc. will post 8.07 earnings per share for the current fiscal year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were given a $0.50 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. American International Group’s payout ratio is presently 36.56%.

Insider Activity at American International Group

In other news, insider Peter Zaffino sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total transaction of $15,294,000.00. Following the completion of the sale, the insider owned 592,833 shares of the company’s stock, valued at approximately $45,333,939.51. This represents a 25.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.

American International Group Company Profile

American International Group, Inc (NYSE:AIG) is a global insurance organization that provides property and casualty insurance products and related services to businesses, institutions, and individuals. Its offerings include commercial insurance, personal insurance, specialty coverage, accident and health products, and travel-related protection.

AIG serves customers through operations in the United States and international markets. Its commercial insurance business supports companies across industries with coverage such as property, casualty, liability, marine, and other specialty risks, while its personal insurance operations provide protection for individuals and families.

The company was founded in Shanghai in 1919 by Cornelius Vander Starr and is headquartered in New York City.