Fifth Third Wealth Advisors LLC Buys 2,995 Shares of American International Group, Inc. (NYSE:AIG)

Fifth Third Wealth Advisors LLC lifted its position in American International Group, Inc. (NYSE:AIG) by 12.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,437 shares of the insurance provider’s stock after purchasing an additional 2,995 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in American International Group were worth $2,009,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Christopher J. Hasenberg Inc purchased a new stake in shares of American International Group during the 3rd quarter worth approximately $26,000. Fortitude Family Office LLC lifted its position in American International Group by 199.2% during the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 239 shares during the last quarter. Y.D. More Investments Ltd purchased a new position in shares of American International Group in the 2nd quarter worth $27,000. Versant Capital Management Inc increased its holdings in shares of American International Group by 326.0% in the 2nd quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after buying an additional 339 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in shares of American International Group in the 3rd quarter valued at about $46,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. StockNews.com raised American International Group from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. UBS Group raised their price target on American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Evercore ISI cut their price objective on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 9th. BMO Capital Markets lowered shares of American International Group from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $90.00 to $84.00 in a report on Tuesday, October 15th. Finally, Piper Sandler cut their price target 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. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, American International Group presently has an average rating of “Moderate Buy” and an average price target of $84.13.

American International Group Stock Down 1.3 %

Shares of NYSE:AIG opened at $75.28 on Wednesday. The business’s 50 day moving average is $75.33 and its 200 day moving average is $75.65. The stock has a market cap of $46.96 billion, a P/E ratio of -22.21, a price-to-earnings-growth ratio of 7.50 and a beta of 1.05. American International Group, Inc. has a 52-week low of $63.79 and a 52-week high of $80.83. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. The business had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same quarter in the prior year, the company earned $1.61 EPS. Sell-side analysts predict that American International Group, Inc. will post 5.13 EPS for the current year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be given a $0.40 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.13%. American International Group’s payout ratio is presently -47.20%.

Insider Activity at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the sale, the insider now directly owns 279,238,898 shares in the company, valued at $8,058,834,596.28. This represents a 1.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.61% of the stock is currently owned by corporate insiders.

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.