B. Riley Wealth Advisors Inc. Invests $544,000 in American International Group, Inc. $AIG

B. Riley Wealth Advisors Inc. bought a new position in American International Group, Inc. (NYSE:AIG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,350 shares of the insurance provider’s stock, valued at approximately $544,000.

Several other institutional investors and hedge funds have also recently modified their holdings of AIG. Franklin Resources Inc. grew its position in American International Group by 6.1% during the 2nd quarter. Franklin Resources Inc. now owns 12,536,144 shares of the insurance provider’s stock valued at $1,072,969,000 after purchasing an additional 716,209 shares during the last quarter. Norges Bank purchased a new position in American International Group in the second quarter worth about $787,724,000. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of American International Group by 22.8% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 9,113,636 shares of the insurance provider’s stock worth $792,340,000 after buying an additional 1,694,290 shares in the last quarter. Raymond James Financial Inc. grew its holdings in shares of American International Group by 4.4% during the second quarter. Raymond James Financial Inc. now owns 3,429,324 shares of the insurance provider’s stock valued at $293,516,000 after buying an additional 143,361 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of American International Group by 21.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,341,348 shares of the insurance provider’s stock valued at $285,986,000 after acquiring an additional 600,629 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors.

American International Group Trading Down 2.1%

American International Group stock opened at $84.52 on Wednesday. American International Group, Inc. has a 52-week low of $69.24 and a 52-week high of $88.07. The company has a market cap of $45.61 billion, a P/E ratio of 15.37, a P/E/G ratio of 0.90 and a beta of 0.62. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.22. The business has a 50-day simple moving average of $78.55 and a two-hundred day simple moving average of $80.28.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.63. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.82 billion. American International Group had a net margin of 11.89% and a return on equity of 9.09%. During the same quarter in the prior year, the business earned $1.23 EPS. Analysts predict that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 16th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, December 16th. American International Group’s dividend payout ratio (DPR) is currently 32.73%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AIG. Bank of America upped their price objective on American International Group from $88.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, October 13th. Wall Street Zen cut American International Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Royal Bank Of Canada assumed coverage on American International Group in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $85.00 price objective on the stock. Wells Fargo & Company lifted their price objective on American International Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 12th. Finally, TD Cowen boosted their target price on American International Group from $86.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $88.61.

American International Group Company Profile

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.