DRW Securities LLC Grows Position in American International Group, Inc. (NYSE:AIG)

DRW Securities LLC raised its stake in shares of American International Group, Inc. (NYSE:AIG) by 117.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,145 shares of the insurance provider’s stock after purchasing an additional 50,344 shares during the quarter. DRW Securities LLC’s holdings in American International Group were worth $6,923,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. 1832 Asset Management L.P. raised its stake in shares of American International Group by 17.0% in the second quarter. 1832 Asset Management L.P. now owns 39,083 shares of the insurance provider’s stock worth $2,902,000 after purchasing an additional 5,681 shares during the last quarter. Connecticut Wealth Management LLC increased its holdings in American International Group by 214.3% in the 2nd quarter. Connecticut Wealth Management LLC now owns 183,094 shares of the insurance provider’s stock worth $13,593,000 after buying an additional 124,846 shares during the period. Symmetry Investments LP purchased a new position in American International Group during the 2nd quarter worth approximately $2,457,000. Auxier Asset Management lifted its stake in American International Group by 1.8% during the 2nd quarter. Auxier Asset Management now owns 106,174 shares of the insurance provider’s stock valued at $7,882,000 after acquiring an additional 1,850 shares during the period. Finally, Pacer Advisors Inc. boosted its holdings in shares of American International Group by 3.9% in the 2nd quarter. Pacer Advisors Inc. now owns 48,520 shares of the insurance provider’s stock valued at $3,602,000 after acquiring an additional 1,838 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insider Transactions at American International Group

In other news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the transaction, the insider now directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 14,964,738 shares of company stock valued at $400,732,195 over the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AIG shares. Piper Sandler decreased their target price on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Bank of America boosted their price objective on American International Group from $81.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Citigroup dropped their target price on American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, July 23rd. Barclays started coverage on American International Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price objective on American International Group from $80.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $83.88.

American International Group Trading Down 0.2 %

Shares of American International Group stock opened at $73.76 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a twelve month low of $57.72 and a twelve month high of $80.83. The firm has a market capitalization 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 firm’s 50-day moving average price is $74.55 and its 200 day moving average price is $75.68.

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). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The firm had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter last year, the business earned $1.75 EPS. The business’s revenue was up .0% compared to the same quarter last year. On average, sell-side analysts predict that American International Group, Inc. will post 5.24 EPS for the current fiscal year.

American International Group Dividend Announcement

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

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.