Intelligence Driven Advisers LLC Boosts Stock Position in American International Group, Inc. (NYSE:AIG)

Intelligence Driven Advisers LLC raised its stake in American International Group, Inc. (NYSE:AIG) by 12.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,956 shares of the insurance provider’s stock after purchasing an additional 320 shares during the period. Intelligence Driven Advisers LLC’s holdings in American International Group were worth $219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its stake in shares of American International Group by 199.2% during the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 239 shares during the last quarter. Rise Advisors LLC purchased a new stake in shares of American International Group during the first quarter worth about $29,000. Valued Wealth Advisors LLC grew its stake in shares of American International Group by 303.3% during the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 276 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of American International Group by 326.0% during the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 339 shares during the last quarter. Finally, CENTRAL TRUST Co grew its stake in shares of American International Group by 123.8% during the first quarter. CENTRAL TRUST Co now owns 452 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

NYSE:AIG traded down $1.93 during trading hours on Friday, reaching $71.91. The company had a trading volume of 7,205,390 shares, compared to its average volume of 4,151,511. American International Group, Inc. has a 1-year low of $57.72 and a 1-year high of $80.83. The firm has a market cap of $47.72 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 3.84 and a beta of 1.06. The business’s 50 day moving average price is $75.02 and its 200-day moving average price is $75.55. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The company had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.64 billion. During the same period in the previous year, the firm posted $1.75 earnings per share. The company’s revenue was up .0% compared to the same quarter last year. Research analysts forecast that American International Group, Inc. will post 5.24 EPS for the current year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Monday, September 16th. American International Group’s payout ratio is 23.88%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Morgan Stanley dropped their price target on American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Barclays started coverage on American International Group in a report on Wednesday. They set an “overweight” rating and a $90.00 target price for the company. Piper Sandler decreased their target price on American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $87.00 target price on shares of American International Group in a report on Tuesday, July 9th. Finally, Wells Fargo & Company decreased their target price on American International Group from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $83.88.

Insider Transactions at American International Group

In other news, major shareholder International Group American sold 8,032,129 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the completion of the transaction, the insider now directly owns 284,238,898 shares of the company’s stock, valued at approximately $7,077,548,560.20. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.61% of the company’s stock.

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.