Foster & Motley Inc. Has $1.74 Million Stock Position in American International Group, Inc. (NYSE:AIG)

Foster & Motley Inc. decreased its holdings in American International Group, Inc. (NYSE:AIG) by 2.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,472 shares of the insurance provider’s stock after selling 663 shares during the period. Foster & Motley Inc.’s holdings in American International Group were worth $1,743,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Fortitude Family Office LLC raised its stake in American International Group by 199.2% in the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 239 shares during the period. Valued Wealth Advisors LLC increased its holdings in shares of American International Group by 303.3% in the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 276 shares during the last quarter. Rise Advisors LLC bought a new position in shares of American International Group in the first quarter valued at about $29,000. Versant Capital Management Inc lifted its stake in shares of American International Group by 326.0% during the 2nd quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after buying an additional 339 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its holdings in shares of American International Group by 123.8% during the 1st quarter. CENTRAL TRUST Co now owns 452 shares of the insurance provider’s stock worth $35,000 after buying an additional 250 shares during the period. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Trading Down 3.8 %

Shares of AIG stock opened at $73.81 on Friday. American International Group, Inc. has a fifty-two week low of $57.72 and a fifty-two week high of $80.83. The stock’s fifty day moving average price is $75.07 and its two-hundred day moving average price is $75.54. 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 company has a market cap of $48.99 billion, a PE ratio of 11.02, a P/E/G ratio of 3.84 and a beta of 1.06.

American International Group (NYSE:AIG) last released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share 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 negative net margin of 1.54% and a positive return on equity of 9.52%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the business earned $1.75 earnings per share. Equities analysts predict that American International Group, Inc. will post 5.24 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Monday, September 16th. American International Group’s dividend payout ratio is 23.88%.

Insider Activity 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 transaction of $200,000,012.10. Following the completion of the transaction, the insider now directly owns 284,238,898 shares in the company, valued at $7,077,548,560.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AIG. StockNews.com cut shares of American International Group from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Piper Sandler dropped their price target on American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $87.00 price objective on shares of American International Group in a 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 for the company in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. upped their price target on shares of American International Group from $80.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $83.88.

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.