True Wealth Design LLC Acquires New Stake in American International Group, Inc. (NYSE:AIG)

True Wealth Design LLC bought a new position in American International Group, Inc. (NYSE:AIG) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 401 shares of the insurance provider’s stock, valued at approximately $29,000.

A number of other large investors have also bought and sold shares of the company. Cetera Investment Advisers grew its stake in shares of American International Group by 348.6% during the 1st quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock worth $4,506,000 after acquiring an additional 44,797 shares during the period. OFI Invest Asset Management boosted its position in American International Group by 2,208.3% during the second quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock worth $710,000 after purchasing an additional 9,805 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of American International Group by 8.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 142,369 shares of the insurance provider’s stock worth $11,081,000 after purchasing an additional 10,581 shares in the last quarter. Atlanta Consulting Group Advisors LLC bought a new stake in shares of American International Group in the third quarter valued at approximately $494,000. Finally, Victory Capital Management Inc. lifted its stake in shares of American International Group by 6.1% during the 2nd quarter. Victory Capital Management Inc. now owns 939,494 shares of the insurance provider’s stock valued at $69,748,000 after buying an additional 54,419 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AIG has been the subject of a number of recent research reports. Barclays began coverage on shares of American International Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 price objective for the company. Jefferies Financial Group boosted their price objective on American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Royal Bank of Canada restated an “outperform” rating and issued a $87.00 target price on shares of American International Group in a research note on Wednesday, November 6th. Evercore ISI reduced their target price on American International Group from $79.00 to $78.00 and set an “in-line” rating for the company in a report on Wednesday, October 9th. Finally, Bank of America increased their price target on shares of American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $84.80.

American International Group Stock Performance

American International Group stock opened at $76.88 on Monday. American International Group, Inc. has a fifty-two week low of $64.81 and a fifty-two week high of $80.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market cap of $47.96 billion, a P/E ratio of -22.68, a price-to-earnings-growth ratio of 7.62 and a beta of 1.05. The firm’s fifty day moving average price is $75.82 and its 200-day moving average price is $75.46.

American International Group (NYSE:AIG) last released its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. The business had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter last year, the business posted $1.61 earnings per share. On average, equities research analysts expect that American International Group, Inc. will post 5.12 earnings per share for the current fiscal year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be given a $0.40 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.08%. American International Group’s payout ratio is -47.20%.

Insiders Place Their Bets

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the sale, the insider now directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. The trade was a 1.76 % decrease in their ownership of the stock. The transaction 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.

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.