Citizens Financial Group Inc. RI Buys Shares of 4,505 American International Group, Inc. (NYSE:AIG)

Citizens Financial Group Inc. RI purchased a new position in shares of American International Group, Inc. (NYSE:AIG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,505 shares of the insurance provider’s stock, valued at approximately $334,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Avantax Advisory Services Inc. increased its holdings in shares of American International Group by 23.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,941 shares of the insurance provider’s stock worth $403,000 after purchasing an additional 1,122 shares during the period. Independent Advisor Alliance increased its stake in American International Group by 11.2% during the fourth quarter. Independent Advisor Alliance now owns 6,806 shares of the insurance provider’s stock valued at $461,000 after acquiring an additional 686 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in American International Group in the 4th quarter valued at approximately $948,000. Coldstream Capital Management Inc. lifted its position in shares of American International Group by 20.1% in the 4th quarter. Coldstream Capital Management Inc. now owns 9,675 shares of the insurance provider’s stock worth $655,000 after acquiring an additional 1,617 shares during the period. Finally, Quest Partners LLC acquired a new stake in shares of American International Group during the 4th quarter worth approximately $923,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Price Performance

AIG opened at $73.27 on Thursday. The company has a fifty day moving average price of $74.68 and a two-hundred day moving average price of $75.68. 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 firm has a market capitalization of $48.63 billion, a PE ratio of 10.94, a P/E/G ratio of 3.60 and a beta of 1.06. American International Group, Inc. has a 52 week low of $57.72 and a 52 week high of $80.83.

American International Group (NYSE:AIG) last released its earnings results 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 company 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 company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.75 EPS. As a group, analysts anticipate that American International Group, Inc. will post 5.24 earnings per share for the current year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Monday, September 16th. American International Group’s payout ratio is presently 23.88%.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 1,932,609 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the sale, the insider now owns 292,271,027 shares of the company’s stock, valued at approximately $8,534,313,988.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 14,964,738 shares of company stock valued at $400,732,195 over the last three months. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. TD Cowen reduced their target price on American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Wells Fargo & Company cut their price objective on American International Group from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Piper Sandler lowered their target price on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. StockNews.com lowered shares of American International Group from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. lifted their target price 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 analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $83.88.

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.