Resonant Capital Advisors LLC Grows Position in American International Group, Inc. $AIG

Resonant Capital Advisors LLC raised its holdings in shares of American International Group, Inc. (NYSE:AIG) by 16.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,741 shares of the insurance provider’s stock after purchasing an additional 386 shares during the period. Resonant Capital Advisors LLC’s holdings in American International Group were worth $235,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. GQG Partners LLC boosted its stake in shares of American International Group by 33,315.0% during the first quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider’s stock valued at $1,643,995,000 after purchasing an additional 18,852,949 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in American International Group by 20.4% during the first quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider’s stock worth $974,840,000 after buying an additional 1,901,998 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its position in American International Group by 22.8% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 9,113,636 shares of the insurance provider’s stock valued at $792,340,000 after acquiring an additional 1,694,290 shares in the last quarter. Nuveen LLC purchased a new position in shares of American International Group in the 1st quarter valued at $440,273,000. Finally, AQR Capital Management LLC raised its position in shares of American International Group by 184.4% in the 1st quarter. AQR Capital Management LLC now owns 3,335,040 shares of the insurance provider’s stock worth $287,214,000 after acquiring an additional 2,162,545 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Price Performance

Shares of NYSE:AIG opened at $79.30 on Tuesday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a twelve month low of $69.24 and a twelve month high of $88.07. The company’s 50 day moving average is $79.89 and its 200 day moving average is $81.39. The company has a market cap of $43.93 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 0.78 and a beta of 0.68.

American International Group (NYSE:AIG) last released its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.60 by $0.21. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the prior year, the firm earned $1.16 EPS. On average, sell-side analysts forecast that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were paid a dividend of $0.45 per share. The ex-dividend date was Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. American International Group’s dividend payout ratio (DPR) is presently 34.09%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AIG shares. JPMorgan Chase & Co. raised their price objective on American International Group from $95.00 to $97.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Cfra Research upgraded shares of American International Group to a “moderate buy” rating in a report on Monday, August 11th. William Blair raised shares of American International Group to a “strong-buy” rating in a research report on Friday, August 1st. Citigroup began coverage on shares of American International Group in a research report on Wednesday, August 13th. They set a “neutral” rating and a $85.00 target price for the company. Finally, The Goldman Sachs Group lifted their price target on shares of American International Group from $85.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.81.

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.