Diversify Advisory Services LLC Makes New Investment in American International Group, Inc. (NYSE:AIG)

Diversify Advisory Services LLC purchased a new stake in American International Group, Inc. (NYSE:AIGFree Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 9,452 shares of the insurance provider’s stock, valued at approximately $734,000.

A number of other hedge funds have also modified their holdings of AIG. Capital Research Global Investors raised its holdings in American International Group by 0.4% in the fourth quarter. Capital Research Global Investors now owns 41,770,175 shares of the insurance provider’s stock worth $2,829,930,000 after purchasing an additional 176,286 shares during the period. Norges Bank acquired a new stake in American International Group during the 4th quarter worth $746,005,000. Putnam Investments LLC lifted its holdings in American International Group by 3.8% during the fourth quarter. Putnam Investments LLC now owns 8,245,693 shares of the insurance provider’s stock worth $558,646,000 after acquiring an additional 300,712 shares in the last quarter. LSV Asset Management grew its stake in American International Group by 5.3% in the fourth quarter. LSV Asset Management now owns 5,786,940 shares of the insurance provider’s stock valued at $392,065,000 after acquiring an additional 290,061 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of American International Group by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,395,566 shares of the insurance provider’s stock worth $297,800,000 after acquiring an additional 32,065 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other American International Group news, major shareholder International Group American sold 1,932,609 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the completion of the sale, the insider now owns 292,271,027 shares of the company’s stock, valued at approximately $8,534,313,988.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. HSBC cut American International Group from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research note on Wednesday, May 15th. JPMorgan Chase & Co. increased their price objective on shares of American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. BMO Capital Markets upped their target price on shares of American International Group from $88.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday, May 13th. Citigroup increased their target price on American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $87.00 price target on shares of American International Group in a report on Thursday, June 27th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, American International Group currently has a consensus rating of “Hold” and an average price target of $81.38.

Check Out Our Latest Stock Report on American International Group

American International Group Price Performance

Shares of AIG opened at $73.88 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.05. The company’s fifty day simple moving average is $76.75 and its 200 day simple moving average is $73.54. American International Group, Inc. has a 1-year low of $56.97 and a 1-year high of $80.83. The company has a market cap of $49.03 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 2.07 and a beta of 1.08.

American International Group (NYSE:AIGGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.11. The company had revenue of $12.58 billion during the quarter, compared to the consensus estimate of $12.04 billion. American International Group had a net margin of 9.98% and a return on equity of 10.54%. During the same quarter last year, the firm posted $1.63 EPS. On average, research analysts forecast that American International Group, Inc. will post 7.02 earnings per share for the current fiscal year.

American International Group announced that its Board of Directors has initiated a stock buyback program on Wednesday, May 1st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the insurance provider to repurchase up to 19.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

American International Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.40 per share. This is an increase from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Friday, June 14th. American International Group’s payout ratio is currently 23.88%.

About American International Group

(Free Report)

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.

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

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