GAMMA Investing LLC Purchases 1,398 Shares of American International Group, Inc. (NYSE:AIG)

GAMMA Investing LLC increased its position in American International Group, Inc. (NYSE:AIG) by 15.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,168 shares of the insurance provider’s stock after acquiring an additional 1,398 shares during the quarter. GAMMA Investing LLC’s holdings in American International Group were worth $745,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cetera Investment Advisers grew its holdings in American International Group by 348.6% during the 1st quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock valued at $4,506,000 after buying an additional 44,797 shares in the last quarter. OFI Invest Asset Management increased its position in shares of American International Group by 2,208.3% during the second quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock valued at $710,000 after buying an additional 9,805 shares during the period. Bessemer Group Inc. increased its position in shares of American International Group by 64.3% during the first quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider’s stock valued at $2,227,000 after buying an additional 11,149 shares during the period. Coronation Fund Managers Ltd. bought a new stake in shares of American International Group during the first quarter valued at about $1,367,000. Finally, Illinois Municipal Retirement Fund increased its position in shares of American International Group by 19.0% during the first quarter. Illinois Municipal Retirement Fund now owns 156,150 shares of the insurance provider’s stock valued at $12,206,000 after buying an additional 24,906 shares during the period. 90.60% of the stock is currently owned by institutional investors.

American International Group Stock Performance

NYSE:AIG opened at $74.63 on Wednesday. The firm has a market cap of $49.53 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 3.70 and a beta of 1.06. American International Group, Inc. has a fifty-two week low of $58.69 and a fifty-two week high of $80.83. 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 business has a 50 day moving average price of $73.79 and a 200-day moving average price of $75.51.

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 analysts’ consensus estimates of $1.30 by ($0.14). The company had revenue of $1.00 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the company posted $1.75 EPS. Equities research analysts predict that American International Group, Inc. will post 5.24 earnings per share for the current year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date was Monday, September 16th. American International Group’s dividend payout ratio (DPR) is presently 23.88%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AIG. Evercore ISI decreased their price target on American International Group from $81.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, June 27th. Barclays began coverage on American International Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on American International Group from $80.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Piper Sandler cut their price objective 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. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $87.00 price objective on shares of American International Group in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $84.27.

Insider Activity

In other news, major shareholder International Group American sold 8,032,129 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the completion of the sale, the insider now owns 284,238,898 shares of the company’s stock, valued at approximately $7,077,548,560.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.