Atlanta Consulting Group Advisors LLC Takes Position in American International Group, Inc. (NYSE:AIG)

Atlanta Consulting Group Advisors LLC bought a new position in shares of American International Group, Inc. (NYSE:AIG) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 6,743 shares of the insurance provider’s stock, valued at approximately $494,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Avantax Advisory Services Inc. grew its position in shares of American International Group by 2.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 6,106 shares of the insurance provider’s stock valued at $477,000 after buying an additional 165 shares during the last quarter. Blair William & Co. IL boosted its holdings in American International Group by 4.8% in the first quarter. Blair William & Co. IL now owns 26,753 shares of the insurance provider’s stock valued at $2,091,000 after acquiring an additional 1,222 shares during the last quarter. UniSuper Management Pty Ltd raised its holdings in American International Group by 239.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 21,751 shares of the insurance provider’s stock worth $1,700,000 after purchasing an additional 15,337 shares during the last quarter. Bessemer Group Inc. raised its holdings in American International Group by 64.3% during the 1st quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider’s stock worth $2,227,000 after purchasing an additional 11,149 shares during the last quarter. Finally, Lake Street Advisors Group LLC acquired a new position in shares of American International Group in the 1st quarter worth approximately $359,000. 90.60% of the stock is owned by institutional investors.

Insider Activity

In related news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the sale, the insider now directly owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This trade represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AIG shares. JPMorgan Chase & Co. raised shares of American International Group from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $93.00 to $89.00 in a research note on Thursday, October 10th. Piper Sandler dropped their price objective on American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Bank of America raised their target price on American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. UBS Group lifted their target price on American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $87.00 price target on shares of American International Group in a report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $84.13.

American International Group Price Performance

AIG stock opened at $75.77 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. The business has a 50-day simple moving average of $75.20 and a two-hundred day simple moving average of $75.69. The company has a market capitalization of $47.26 billion, a P/E ratio of -22.35, a price-to-earnings-growth ratio of 7.50 and a beta of 1.05. American International Group, Inc. has a 52-week low of $63.57 and a 52-week high of $80.83.

American International Group (NYSE:AIG) last announced its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.13. The company had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same quarter in the previous year, the firm earned $1.61 earnings per share. Research analysts expect that American International Group, Inc. will post 5.13 EPS for the current fiscal year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.11%. American International Group’s payout ratio is -47.20%.

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.