4,587 Shares in American International Group, Inc. (NYSE:AIG) Acquired by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC purchased a new stake in American International Group, Inc. (NYSE:AIG) during the first quarter, HoldingsChannel.com reports. The fund purchased 4,587 shares of the insurance provider’s stock, valued at approximately $359,000.

Other institutional investors have also recently bought and sold shares of the company. Essex Financial Services Inc. acquired a new stake in shares of American International Group during the fourth quarter worth $260,000. TCW Group Inc. bought a new position in American International Group during the 4th quarter worth about $724,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of American International Group in the 4th quarter valued at about $948,000. Sequoia Financial Advisors LLC lifted its holdings in shares of American International Group by 121.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 38,809 shares of the insurance provider’s stock valued at $2,629,000 after purchasing an additional 21,279 shares in the last quarter. Finally, Eudaimonia Partners LLC acquired a new position in shares of American International Group during the fourth quarter worth about $635,000. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

NYSE AIG traded down $1.63 during trading on Wednesday, reaching $75.25. 4,129,662 shares of the company’s stock were exchanged, compared to its average volume of 4,151,695. American International Group, Inc. has a fifty-two week low of $57.02 and a fifty-two week high of $80.83. The stock has a market capitalization of $49.94 billion, a P/E ratio of 11.23, a PEG ratio of 2.49 and a beta of 1.08. The business has a 50 day moving average price of $76.25 and a 200-day moving average price of $74.35. 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 posted its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.11. American International Group had a return on equity of 10.54% and a net margin of 9.98%. The business had revenue of $12.58 billion for the quarter, compared to analysts’ expectations of $12.04 billion. During the same quarter in the prior year, the business earned $1.63 EPS. Sell-side analysts forecast that American International Group, Inc. will post 6.45 earnings per share for the current fiscal year.

American International Group announced that its Board of Directors has initiated a share buyback plan on Wednesday, May 1st that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the insurance provider to reacquire up to 19.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Friday, June 14th. This is a boost from American International Group’s previous quarterly dividend of $0.36. American International Group’s dividend payout ratio (DPR) is currently 23.88%.

Insider Buying and Selling

In other American International Group news, major shareholder International Group American sold 30,000,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $29.20, for a total value of $876,000,000.00. Following the transaction, the insider now directly owns 294,203,636 shares of the company’s stock, valued at approximately $8,590,746,171.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AIG shares. Wells Fargo & Company lifted their target price on American International Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, May 10th. JPMorgan Chase & Co. boosted their price objective on shares of American International Group from $80.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. HSBC cut shares of American International Group from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a report on Wednesday, May 15th. BMO Capital Markets lifted their price target on shares of American International Group from $88.00 to $89.00 and gave the company an “outperform” rating in a research note on Monday, May 13th. Finally, Evercore ISI reduced their price objective on shares of 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. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, American International Group has an average rating of “Hold” and an average price target of $82.50.

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.