Weaver Capital Management LLC Acquires Shares of 3,378 American International Group, Inc. (NYSE:AIG)

Weaver Capital Management LLC purchased a new position in American International Group, Inc. (NYSE:AIG) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 3,378 shares of the insurance provider’s stock, valued at approximately $251,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Founders Financial Securities LLC grew its holdings in American International Group by 3.6% during the 2nd quarter. Founders Financial Securities LLC now owns 9,189 shares of the insurance provider’s stock worth $682,000 after acquiring an additional 319 shares in the last quarter. Allegheny Financial Group LTD bought a new position in shares of American International Group during the second quarter worth about $403,000. Convergence Investment Partners LLC grew its stake in American International Group by 30.1% in the second quarter. Convergence Investment Partners LLC now owns 3,432 shares of the insurance provider’s stock worth $255,000 after purchasing an additional 795 shares in the last quarter. Consilium Wealth Advisory LLC increased its holdings in American International Group by 21.8% in the second quarter. Consilium Wealth Advisory LLC now owns 17,313 shares of the insurance provider’s stock valued at $1,285,000 after buying an additional 3,096 shares during the last quarter. Finally, FFT Wealth Management LLC acquired a new stake in American International Group during the second quarter valued at approximately $298,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analysts Set New Price Targets

AIG has been the subject of a number of recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $87.00 price objective on shares of American International Group in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods dropped their target price 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. Piper Sandler reduced their price target on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Citigroup reduced their price target on shares of 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. Finally, TD Cowen lowered their price objective on shares of American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, American International Group presently has an average rating of “Hold” and an average target price of $83.47.

American International Group Trading Up 0.9 %

American International Group stock opened at $76.69 on Thursday. American International Group, Inc. has a 52 week low of $57.72 and a 52 week high of $80.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market capitalization of $49.38 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 3.84 and a beta of 1.07. The company has a 50 day moving average price of $75.09 and a 200 day moving average price of $75.55.

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

American International Group Dividend Announcement

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 issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. American International Group’s dividend payout ratio is 23.88%.

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 on Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total value of $200,000,012.10. Following the transaction, the insider now directly owns 284,238,898 shares of the company’s stock, valued at $7,077,548,560.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is owned by insiders.

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.