Net Worth Advisory Group Invests $640,000 in American International Group, Inc. (NYSE:AIG)

Net Worth Advisory Group purchased a new stake in American International Group, Inc. (NYSE:AIG - Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 8,743 shares of the insurance provider's stock, valued at approximately $640,000.

Several other hedge funds have also recently bought and sold shares of AIG. Christopher J. Hasenberg Inc acquired a new position in shares of American International Group in the 3rd quarter worth approximately $26,000. Fortitude Family Office LLC boosted its stake in American International Group by 199.2% in the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider's stock worth $27,000 after purchasing an additional 239 shares in the last quarter. Y.D. More Investments Ltd bought a new stake in shares of American International Group during the second quarter worth $27,000. Valued Wealth Advisors LLC increased its stake in shares of American International Group by 303.3% in the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider's stock valued at $29,000 after buying an additional 276 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of American International Group by 326.0% in the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider's stock valued at $33,000 after buying an additional 339 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on AIG shares. Piper Sandler decreased their price objective 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. Bank of America increased their price target on shares of American International Group from $82.00 to $86.00 and gave the company a "neutral" rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. upgraded shares of American International Group from a "neutral" rating to an "overweight" rating and dropped their price objective for the stock from $93.00 to $89.00 in a research report on Thursday, October 10th. UBS Group upped their price objective on American International Group from $84.00 to $88.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Finally, BMO Capital Markets cut American International Group from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $90.00 to $84.00 in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $84.38.

American International Group Trading Down 0.8 %

American International Group stock traded down $0.64 during midday trading on Friday, hitting $78.55. 2,658,652 shares of the stock were exchanged, compared to its average volume of 4,137,100. American International Group, Inc. has a 52 week low of $58.69 and a 52 week high of $80.83. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $52.13 billion, a PE ratio of 11.72, a P/E/G ratio of 3.88 and a beta of 1.06. The company has a fifty day simple moving average of $74.43 and a two-hundred day simple moving average of $75.48.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.14). The firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.64 billion. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. American International Group's quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the firm earned $1.75 EPS. Equities research analysts anticipate that American International Group, Inc. will post 5.09 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Monday, September 16th. American International Group's dividend payout ratio is currently 23.88%.

Insider Activity

In related news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $8,058,834,596.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is currently owned by company insiders.

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.