Connecticut Wealth Management LLC Has $13.59 Million Position in American International Group, Inc. (NYSE:AIG)

Connecticut Wealth Management LLC increased its stake in shares of American International Group, Inc. (NYSE:AIG) by 214.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,094 shares of the insurance provider’s stock after purchasing an additional 124,846 shares during the quarter. American International Group makes up about 0.7% of Connecticut Wealth Management LLC’s portfolio, making the stock its 27th largest holding. Connecticut Wealth Management LLC’s holdings in American International Group were worth $13,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital Research Global Investors boosted its stake in shares of American International Group by 0.4% during the fourth quarter. Capital Research Global Investors now owns 41,770,175 shares of the insurance provider’s stock valued at $2,829,930,000 after purchasing an additional 176,286 shares in the last quarter. Putnam Investments LLC raised its holdings in American International Group by 3.8% in the 4th quarter. Putnam Investments LLC now owns 8,245,693 shares of the insurance provider’s stock valued at $558,646,000 after buying an additional 300,712 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in American International Group by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,435,245 shares of the insurance provider’s stock valued at $477,802,000 after buying an additional 269,188 shares during the last quarter. Clearbridge Investments LLC boosted its position in American International Group by 0.6% during the 1st quarter. Clearbridge Investments LLC now owns 5,440,355 shares of the insurance provider’s stock worth $425,273,000 after buying an additional 31,340 shares during the period. Finally, Third Point LLC grew its holdings in American International Group by 16.9% during the 4th quarter. Third Point LLC now owns 3,450,000 shares of the insurance provider’s stock worth $233,738,000 after acquiring an additional 500,000 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Down 0.2 %

Shares of NYSE AIG opened at $73.76 on Friday. American International Group, Inc. has a 12-month low of $57.72 and a 12-month high of $80.83. The firm has a market cap of $48.95 billion, a PE ratio of 11.01, a P/E/G ratio of 3.60 and a beta of 1.06. The company’s fifty day simple moving average is $74.55 and its 200 day simple moving average is $75.67. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last released its quarterly 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 firm had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.75 earnings per share. As a group, sell-side analysts forecast that American International Group, Inc. will post 5.24 earnings per share 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 issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.17%. American International Group’s dividend payout ratio (DPR) is presently 23.88%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. StockNews.com lowered shares of American International Group from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Keefe, Bruyette & Woods cut their target price on American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Citigroup reduced their price target on American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, July 23rd. Royal Bank of Canada restated an “outperform” rating and set a $87.00 price objective on shares of American International Group in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. upped their target price on American International Group from $80.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, American International Group currently has an average rating of “Hold” and a consensus target price of $83.88.

Insiders Place Their Bets

In other news, major shareholder International Group American sold 1,932,609 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the completion of the transaction, the insider now directly owns 292,271,027 shares of the company’s stock, valued at approximately $8,534,313,988.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 14,964,738 shares of company stock valued at $400,732,195. Company insiders own 0.61% of the company’s stock.

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.