Magnolia Capital Advisors LLC Takes Position in American International Group, Inc. (NYSE:AIG)

Magnolia Capital Advisors LLC purchased a new stake in American International Group, Inc. (NYSE:AIG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 50,854 shares of the insurance provider's stock, valued at approximately $3,775,000.

Several other hedge funds have also made changes to their positions in the company. Y.D. More Investments Ltd purchased a new position in shares of American International Group during the 2nd quarter worth approximately $27,000. Fortitude Family Office LLC boosted its position in shares of American International Group by 199.2% during the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider's stock worth $27,000 after purchasing an additional 239 shares during the period. Valued Wealth Advisors LLC boosted its position in shares of American International Group by 303.3% during the 1st quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider's stock worth $29,000 after purchasing an additional 276 shares during the period. Rise Advisors LLC purchased a new position in shares of American International Group during the 1st quarter worth approximately $29,000. Finally, Versant Capital Management Inc boosted its position in shares of American International Group by 326.0% during the 2nd quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider's stock worth $33,000 after purchasing an additional 339 shares during the period. Hedge funds and other institutional investors own 90.60% of the company's stock.

Insider Buying and Selling

In related news, major shareholder International Group American sold 8,032,129 shares of American International Group stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the sale, the insider now directly owns 284,238,898 shares in the company, valued at approximately $7,077,548,560.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 14,964,738 shares of company stock worth $400,732,195 in the last ninety days. 0.61% of the stock is owned by corporate insiders.

American International Group Stock Up 0.3 %

Shares of AIG traded up $0.22 during midday trading on Friday, reaching $73.34. The stock had a trading volume of 2,851,655 shares, compared to its average volume of 4,183,385. American International Group, Inc. has a 1-year low of $57.72 and a 1-year high of $80.83. The company's fifty day simple moving average is $74.15 and its two-hundred day simple moving average is $75.63. The company has a market cap of $48.67 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 3.70 and a beta of 1.06. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67.

American International Group (NYSE:AIG - Get Free Report) last announced 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). 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 analyst estimates of $11.64 billion. During the same quarter in the previous year, the business posted $1.75 earnings per share. American International Group's revenue for the quarter was up .0% compared to the same quarter last year. Equities research analysts expect 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 declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, September 16th. This represents a $1.60 annualized dividend and a yield of 2.18%. American International Group's dividend payout ratio is currently 23.88%.

Wall Street Analyst Weigh In

AIG has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price objective on shares of American International Group from $79.00 to $77.00 and set an "equal weight" rating for the company in a research report on Friday, August 9th. Evercore ISI reduced their target price on shares of American International Group from $81.00 to $78.00 and set an "in-line" rating on the stock in a report on Thursday, June 27th. StockNews.com lowered shares of American International Group from a "hold" rating to a "sell" rating in a report on Monday, August 5th. Citigroup reduced their target price on shares of American International Group from $89.00 to $87.00 and set a "buy" rating on the stock in a report on Tuesday, July 23rd. Finally, Barclays started coverage on shares of American International Group in a report on Wednesday, September 4th. They set an "overweight" rating and a $90.00 target price on the stock. 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $83.88.

American International Group 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.