Founders Financial Securities LLC Acquires 396 Shares of American International Group, Inc. (NYSE:AIG)

Founders Financial Securities LLC increased its holdings in shares of American International Group, Inc. (NYSE:AIG) by 4.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 8,870 shares of the insurance provider’s stock after purchasing an additional 396 shares during the period. Founders Financial Securities LLC’s holdings in American International Group were worth $693,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of AIG. Kentucky Retirement Systems Insurance Trust Fund raised its stake in shares of American International Group by 0.6% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 25,011 shares of the insurance provider’s stock worth $1,694,000 after purchasing an additional 154 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its position in American International Group by 0.9% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 18,553 shares of the insurance provider’s stock valued at $1,257,000 after buying an additional 157 shares during the last quarter. Lindbrook Capital LLC lifted its stake in American International Group by 2.7% during the 4th quarter. Lindbrook Capital LLC now owns 6,764 shares of the insurance provider’s stock valued at $458,000 after acquiring an additional 176 shares in the last quarter. Aspiriant LLC boosted its holdings in American International Group by 3.4% during the 4th quarter. Aspiriant LLC now owns 5,417 shares of the insurance provider’s stock worth $367,000 after acquiring an additional 178 shares during the last quarter. Finally, BSW Wealth Partners grew its stake in shares of American International Group by 3.4% in the 4th quarter. BSW Wealth Partners now owns 5,460 shares of the insurance provider’s stock worth $370,000 after acquiring an additional 180 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of American International Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, May 10th. Evercore ISI cut their target price on American International Group from $81.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday. BMO Capital Markets increased their price target on American International Group from $88.00 to $89.00 and gave the company an “outperform” rating in a research report on Monday, May 13th. Citigroup lifted their price target 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, JPMorgan Chase & Co. upped their price objective on American International Group from $73.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $81.38.

American International Group Stock Performance

Shares of NYSE AIG traded down $0.73 during midday trading on Friday, hitting $74.24. The company’s stock had a trading volume of 9,261,732 shares, compared to its average volume of 4,674,544. The firm has a market capitalization of $49.27 billion, a price-to-earnings ratio of 11.08, a P/E/G ratio of 2.04 and a beta of 1.08. 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 stock has a fifty day moving average price of $76.75 and a 200 day moving average price of $73.26. American International Group, Inc. has a one year low of $56.55 and a one year high of $80.83.

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

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.60 annualized dividend and a dividend yield of 2.16%. This is a boost from American International Group’s previous quarterly dividend of $0.36. American International Group’s dividend payout ratio (DPR) is presently 23.88%.

American International Group declared that its Board of Directors has approved a stock repurchase plan on Wednesday, May 1st that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the insurance provider to repurchase up to 19.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

Insider Transactions at American International Group

In other American International Group news, major shareholder International Group American sold 30,000,000 shares of American International Group stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $29.20, for a total transaction of $876,000,000.00. Following the completion of the sale, the insider now directly owns 294,203,636 shares in the company, valued at $8,590,746,171.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.61% of the stock is owned by insiders.

American International Group 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.