Empirical Financial Services LLC d.b.a. Empirical Wealth Management Makes New $2.26 Million Investment in American International Group, Inc. $AIG

Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in American International Group, Inc. (NYSE:AIG) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 28,733 shares of the insurance provider’s stock, valued at approximately $2,257,000.

Other large investors have also made changes to their positions in the company. Jupiter Asset Management Ltd. increased its holdings in American International Group by 2,157.0% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 1,615,618 shares of the insurance provider’s stock worth $126,891,000 after acquiring an additional 1,544,037 shares in the last quarter. Synovus Financial Corp grew its position in shares of American International Group by 2.0% in the third quarter. Synovus Financial Corp now owns 51,826 shares of the insurance provider’s stock valued at $4,070,000 after purchasing an additional 1,019 shares during the period. NewEdge Wealth LLC increased its stake in shares of American International Group by 32.9% during the third quarter. NewEdge Wealth LLC now owns 6,202 shares of the insurance provider’s stock worth $473,000 after purchasing an additional 1,536 shares in the last quarter. Pzena Investment Management LLC raised its position in shares of American International Group by 2.7% during the 3rd quarter. Pzena Investment Management LLC now owns 441,103 shares of the insurance provider’s stock worth $34,644,000 after purchasing an additional 11,734 shares during the last quarter. Finally, Syon Capital LLC lifted its stake in American International Group by 31.6% in the 3rd quarter. Syon Capital LLC now owns 12,284 shares of the insurance provider’s stock valued at $965,000 after buying an additional 2,953 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Stock Up 1.0%

NYSE AIG opened at $80.35 on Friday. The business’s fifty day simple moving average is $78.80 and its 200-day simple moving average is $78.89. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. The firm has a market cap of $43.11 billion, a PE ratio of 14.82, a P/E/G ratio of 0.62 and a beta of 0.61. American International Group, Inc. has a 52 week low of $71.25 and a 52 week high of $88.07.

American International Group (NYSE:AIG) last released its quarterly earnings data on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.06. American International Group had a net margin of 11.56% and a return on equity of 9.79%. The firm had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.99 billion. During the same period last year, the business earned $1.30 earnings per share. As a group, equities analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, March 16th. American International Group’s payout ratio is presently 33.21%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AIG shares. Mizuho boosted their price objective on American International Group from $83.00 to $86.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of American International Group in a research report on Monday, December 29th. Cantor Fitzgerald increased their price objective on American International Group from $77.00 to $81.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. Wells Fargo & Company lifted their target price on shares of American International Group from $85.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Friday, February 13th. Finally, Jefferies Financial Group upped their target price on shares of American International Group from $96.00 to $101.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $87.58.

American International Group Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.