Fifth Third Wealth Advisors LLC Grows Stake in American International Group, Inc. (NYSE:AIG)

Fifth Third Wealth Advisors LLC grew its stake in shares of American International Group, Inc. (NYSE:AIG) by 12.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,437 shares of the insurance provider’s stock after acquiring an additional 2,995 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in American International Group were worth $2,009,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AIG. Forum Financial Management LP increased its stake in American International Group by 1.1% during the 2nd quarter. Forum Financial Management LP now owns 12,173 shares of the insurance provider’s stock valued at $904,000 after purchasing an additional 128 shares in the last quarter. Quent Capital LLC lifted its position in American International Group by 4.0% in the 2nd quarter. Quent Capital LLC now owns 3,834 shares of the insurance provider’s stock valued at $285,000 after acquiring an additional 146 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in American International Group by 4.9% during the 1st quarter. EP Wealth Advisors LLC now owns 3,536 shares of the insurance provider’s stock valued at $276,000 after purchasing an additional 165 shares during the last quarter. Graypoint LLC increased its holdings in shares of American International Group by 2.0% in the 3rd quarter. Graypoint LLC now owns 8,672 shares of the insurance provider’s stock worth $635,000 after purchasing an additional 167 shares in the last quarter. Finally, Spire Wealth Management raised its stake in shares of American International Group by 4.4% in the second quarter. Spire Wealth Management now owns 4,096 shares of the insurance provider’s stock worth $304,000 after purchasing an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder International Group American sold 5,000,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was 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 approximately $8,058,834,596.28. The trade was a 1.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.61% of the stock is currently owned by company insiders.

American International Group Stock Down 1.3 %

NYSE AIG opened at $75.28 on Wednesday. The stock’s 50-day moving average price is $75.33 and its 200-day moving average price is $75.65. The company has a market capitalization 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. 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, Inc. has a 52 week low of $63.79 and a 52 week high of $80.83.

American International Group (NYSE:AIG) last released its earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. The company had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. During the same quarter last year, the business earned $1.61 EPS. On average, equities research analysts predict that American International Group, Inc. will post 5.13 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, December 30th. Investors of record on Monday, December 16th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.13%. The ex-dividend date is Monday, December 16th. American International Group’s dividend payout ratio is currently -47.20%.

Analysts Set New Price Targets

Several equities research analysts recently commented on AIG shares. JPMorgan Chase & Co. raised American International Group from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $93.00 to $89.00 in a research report on Thursday, October 10th. Barclays initiated coverage on shares of American International Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 price target for the company. Jefferies Financial Group increased their price objective on shares of American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. StockNews.com raised shares of American International Group from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Bank of America increased their price target on American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, American International Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.13.

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.