Hantz Financial Services Inc. Acquires Shares of 262,224 American International Group, Inc. (NYSE:AIG)

Hantz Financial Services Inc. bought a new position in shares of American International Group, Inc. (NYSE:AIG) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 262,224 shares of the insurance provider’s stock, valued at approximately $19,468,000.

Other hedge funds have also modified their holdings of the company. Forum Financial Management LP increased its position in American International Group by 1.1% in the second quarter. Forum Financial Management LP now owns 12,173 shares of the insurance provider’s stock worth $904,000 after purchasing an additional 128 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in American International Group by 5.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,691 shares of the insurance provider’s stock valued at $210,000 after buying an additional 136 shares during the period. Quent Capital LLC lifted its holdings in American International Group by 4.0% in the second quarter. Quent Capital LLC now owns 3,834 shares of the insurance provider’s stock valued at $285,000 after buying an additional 146 shares during the period. Sage Mountain Advisors LLC grew its holdings in American International Group by 2.3% during the 1st quarter. Sage Mountain Advisors LLC now owns 6,700 shares of the insurance provider’s stock worth $524,000 after acquiring an additional 148 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund raised its position in shares of American International Group by 0.6% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 25,011 shares of the insurance provider’s stock valued at $1,694,000 after acquiring an additional 154 shares during the last quarter. 90.60% of the stock is owned by institutional investors.

American International Group Stock Performance

AIG opened at $77.05 on Friday. The company has a market capitalization of $51.14 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 2.48 and a beta of 1.07. The business’s 50-day moving average price is $74.95 and its two-hundred day moving average price is $75.32. American International Group, Inc. has a 1 year low of $57.72 and a 1 year high of $80.83. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.29 and a quick ratio of 0.29.

American International Group (NYSE:AIG) last announced its 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 9.37%. The firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.64 billion. During the same period in the prior year, the business posted $1.75 EPS. The firm’s quarterly revenue was up .0% compared to the same quarter last year. Equities analysts expect that American International Group, Inc. will post 6.4 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.08%. The ex-dividend date is Monday, September 16th. American International Group’s payout ratio is 23.88%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AIG shares. Citigroup decreased their price objective on American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, July 23rd. Evercore ISI lowered their price target on American International Group from $81.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, June 27th. TD Cowen cut their price target on shares of American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. Piper Sandler lowered their target price on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. increased their target price on shares of American International Group from $80.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $83.47.

Insider Activity at American International Group

In related news, major shareholder International Group American sold 1,932,609 shares of American International Group stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total value of $56,432,182.80. Following the sale, the insider now owns 292,271,027 shares of the company’s stock, valued at $8,534,313,988.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 39,964,738 shares of company stock valued at $1,132,432,195. Corporate insiders own 0.61% of the company’s stock.

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.