American International Group, Inc. (NYSE:AIG) Position Increased by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC increased its position in shares of American International Group, Inc. (NYSE:AIG) by 3.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,609 shares of the insurance provider’s stock after acquiring an additional 194 shares during the period. Premier Path Wealth Partners LLC’s holdings in American International Group were worth $491,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Essex Financial Services Inc. acquired a new position in American International Group during the fourth quarter worth $260,000. TCW Group Inc. acquired a new position in American International Group during the fourth quarter worth $724,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of American International Group in the fourth quarter valued at about $948,000. Eudaimonia Partners LLC acquired a new stake in shares of American International Group in the fourth quarter valued at about $635,000. Finally, Cetera Investment Advisers grew its position in shares of American International Group by 348.6% in the first quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock valued at $4,506,000 after purchasing an additional 44,797 shares during the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Trading Up 0.7 %

Shares of AIG stock traded up $0.56 on Friday, hitting $75.32. The stock had a trading volume of 2,387,656 shares, compared to its average volume of 4,176,896. American International Group, Inc. has a twelve month low of $57.39 and a twelve month high of $80.83. The firm has a market cap of $49.99 billion, a P/E ratio of 11.24, a PEG ratio of 2.48 and a beta of 1.07. 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 has a fifty day moving average price of $74.88 and a two-hundred day moving average price of $75.15.

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 the consensus estimate of $1.30 by ($0.14). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.37%. The firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.64 billion. During the same period last year, the firm earned $1.75 EPS. American International Group’s quarterly revenue was up .0% on a year-over-year basis. As a group, analysts forecast that American International Group, Inc. will post 6.4 earnings per share for the current fiscal year.

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

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.40 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.60 annualized dividend and a yield of 2.12%. American International Group’s dividend payout ratio is currently 23.88%.

Insider Activity at American International Group

In related news, major shareholder International Group American sold 30,000,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $29.20, for a total value of $876,000,000.00. Following the sale, the insider now directly owns 294,203,636 shares of the company’s stock, valued at approximately $8,590,746,171.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders have sold 39,964,738 shares of company stock valued at $1,132,432,195. 0.61% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AIG has been the topic of several research analyst reports. Keefe, Bruyette & Woods lowered their price target on American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. Citigroup lowered their price target on American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, July 23rd. HSBC downgraded American International Group from a “buy” rating to a “hold” rating and set a $86.00 price target on the stock. in a research report on Wednesday, May 15th. StockNews.com downgraded American International Group from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. Finally, Morgan Stanley decreased their target price on American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $83.47.

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.