Golden State Equity Partners Takes Position in American International Group, Inc. (NYSE:AIG)

Golden State Equity Partners acquired a new position in shares of American International Group, Inc. (NYSE:AIGGet Rating) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 17,903 shares of the insurance provider’s stock, valued at approximately $827,000.

Other hedge funds also recently added to or reduced their stakes in the company. Riverview Trust Co bought a new stake in shares of American International Group during the 1st quarter worth about $27,000. Clearstead Advisors LLC purchased a new position in American International Group during the fourth quarter valued at approximately $29,000. Chilton Capital Management LLC purchased a new position in American International Group during the fourth quarter valued at approximately $39,000. Tcwp LLC purchased a new position in American International Group during the first quarter valued at approximately $40,000. Finally, Glassman Wealth Services grew its position in American International Group by 73.4% during the fourth quarter. Glassman Wealth Services now owns 768 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 325 shares in the last quarter. 90.18% of the stock is owned by institutional investors and hedge funds.

American International Group Trading Down 3.9 %

Shares of AIG stock opened at $54.34 on Wednesday. American International Group, Inc. has a 52-week low of $48.40 and a 52-week high of $65.73. The stock has a market cap of $41.32 billion, a price-to-earnings ratio of 3.57 and a beta of 1.17. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a fifty day moving average of $52.94 and a 200-day moving average of $56.53.

American International Group (NYSE:AIGGet Rating) last announced its quarterly earnings data on Monday, August 8th. The insurance provider reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). American International Group had a net margin of 22.23% and a return on equity of 7.12%. During the same quarter last year, the firm posted $1.52 earnings per share. On average, equities research analysts forecast that American International Group, Inc. will post 5.03 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Thursday, September 15th. American International Group’s dividend payout ratio is 8.40%.

Insider Activity

In other news, EVP Luciana Fato sold 17,000 shares of the company’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $54.01, for a total value of $918,170.00. Following the sale, the executive vice president now owns 45,444 shares of the company’s stock, valued at approximately $2,454,430.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AIG. Credit Suisse Group boosted their price objective on shares of American International Group from $50.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday. StockNews.com cut shares of American International Group from a “buy” rating to a “hold” rating in a research note on Saturday, July 2nd. Finally, Barclays cut their target price on shares of American International Group from $63.00 to $56.00 and set an “equal weight” rating for the company in a research note on Thursday, July 14th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $65.29.

American International Group Profile

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American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment provides general liability, environmental, commercial automobile liability, workers' compensation, casualty, and crisis management insurance products; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, crop, and marine insurance.

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Institutional Ownership by Quarter for American International Group (NYSE:AIG)

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