Rise Advisors LLC Purchases New Position in American International Group, Inc. (NYSE:AIG)

Rise Advisors LLC purchased a new stake in shares of American International Group, Inc. (NYSE:AIG) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 370 shares of the insurance provider’s stock, valued at approximately $29,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Neo Ivy Capital Management bought a new position in American International Group during the 4th quarter valued at about $40,000. Scarborough Advisors LLC bought a new position in shares of American International Group in the fourth quarter worth about $40,000. Blue Trust Inc. raised its stake in shares of American International Group by 41.7% in the fourth quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock worth $53,000 after acquiring an additional 232 shares during the last quarter. EdgeRock Capital LLC bought a new position in shares of American International Group in the fourth quarter worth about $57,000. Finally, Highlander Capital Management LLC raised its stake in shares of American International Group by 144.9% in the fourth quarter. Highlander Capital Management LLC now owns 845 shares of the insurance provider’s stock worth $57,000 after acquiring an additional 500 shares during the last quarter. 90.60% of the stock is owned by institutional investors.

American International Group Stock Performance

Shares of AIG stock opened at $74.88 on Friday. The company’s fifty day simple moving average is $76.57 and its 200-day simple moving average is $72.83. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05. The firm has a market cap of $49.70 billion, a PE ratio of 11.18, a P/E/G ratio of 2.04 and a beta of 1.08. American International Group, Inc. has a 12 month low of $54.84 and a 12 month high of $80.83.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.11. The business had revenue of $12.58 billion for the quarter, compared to analyst estimates of $12.04 billion. American International Group had a net margin of 9.98% and a return on equity of 10.54%. During the same quarter in the previous year, the firm posted $1.63 earnings per share. Equities research analysts expect that American International Group, Inc. will post 7.02 EPS for the current fiscal year.

American International Group declared that its board has approved a stock buyback plan on Wednesday, May 1st that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 19.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

American International Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.40 per share. This is a positive change from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 2.14%. The ex-dividend date is Friday, June 14th. American International Group’s dividend payout ratio is 23.88%.

Insider Activity

In other 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 $8,590,746,171.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Bank of America boosted their price target on shares of American International Group from $82.00 to $84.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 11th. Evercore ISI boosted their price target on shares of American International Group from $80.00 to $81.00 and gave the stock an “in-line” rating in a research note on Friday, May 3rd. Citigroup boosted their price target on shares of American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley boosted their price target on shares of American International Group from $72.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Finally, Wells Fargo & Company boosted their price target on shares of American International Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, American International Group presently has an average rating of “Hold” and a consensus price target of $81.50.

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.