Savvy Advisors Inc. Acquires Shares of 2,538 American International Group, Inc. $AIG

Savvy Advisors Inc. bought a new position in shares of American International Group, Inc. (NYSE:AIG) in the second quarter, HoldingsChannel reports. The institutional investor bought 2,538 shares of the insurance provider’s stock, valued at approximately $217,000.

A number of other large investors also recently added to or reduced their stakes in the business. Sachetta LLC boosted its stake in shares of American International Group by 194.5% in the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 249 shares during the last quarter. GFG Capital LLC bought a new position in American International Group in the second quarter valued at approximately $33,000. Barrett & Company Inc. acquired a new stake in American International Group during the 2nd quarter worth $35,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of American International Group during the 2nd quarter valued at $40,000. Finally, Hemington Wealth Management lifted its stake in shares of American International Group by 42.8% in the 1st quarter. Hemington Wealth Management now owns 474 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 142 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Price Performance

Shares of NYSE AIG opened at $79.02 on Monday. The company has a fifty day moving average price of $79.56 and a 200 day moving average price of $81.30. American International Group, Inc. has a 1-year low of $69.24 and a 1-year high of $88.07. The firm has a market cap of $43.78 billion, a PE ratio of 14.97, a PEG ratio of 0.77 and a beta of 0.68. 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 (NYSE:AIG) last posted its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.21. American International Group had a return on equity of 7.88% and a net margin of 11.51%.The company had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the prior year, the firm earned $1.16 earnings per share. Research analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were issued a dividend of $0.45 per share. The ex-dividend date was Tuesday, September 16th. This represents a $1.80 annualized dividend and a yield of 2.3%. American International Group’s dividend payout ratio is presently 34.09%.

Analysts Set New Price Targets

A number of research firms recently commented on AIG. Cfra Research upgraded American International Group to a “moderate buy” rating in a report on Monday, August 11th. UBS Group increased their price target on shares of American International Group from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Wolfe Research started coverage on shares of American International Group in a report on Tuesday, September 16th. They set a “peer perform” rating for the company. Cantor Fitzgerald upgraded shares of American International Group to a “hold” rating in a report on Tuesday, August 12th. Finally, Morgan Stanley lowered their price objective on shares of American International Group from $85.00 to $84.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, American International Group has an average rating of “Moderate Buy” and a consensus price target of $89.81.

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.