Journey Advisory Group LLC Takes $240,000 Position in American International Group, Inc. $AIG

Journey Advisory Group LLC purchased a new stake in American International Group, Inc. (NYSE:AIG) during the second quarter, HoldingsChannel.com reports. The firm purchased 2,803 shares of the insurance provider’s stock, valued at approximately $240,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sachetta LLC grew its stake in American International Group by 194.5% in the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock valued at $33,000 after buying an additional 249 shares during the last quarter. GFG Capital LLC acquired a new position in American International Group in the 2nd quarter valued at about $33,000. Barrett & Company Inc. acquired a new position in American International Group in the 2nd quarter valued at about $35,000. Hemington Wealth Management grew its stake in American International Group by 42.8% in the 1st quarter. Hemington Wealth Management now owns 474 shares of the insurance provider’s stock valued at $41,000 after buying an additional 142 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in American International Group in the 2nd quarter valued at about $42,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Stock Performance

Shares of NYSE:AIG opened at $77.71 on Tuesday. The company’s 50 day moving average price is $79.98 and its two-hundred day moving average price is $81.42. American International Group, Inc. has a 12-month low of $69.24 and a 12-month high of $88.07. The firm has a market cap of $43.05 billion, a PE ratio of 14.72, a PEG ratio of 0.76 and a beta of 0.68. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.21. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.81 billion. American International Group had a net margin of 11.51% and a return on equity of 7.88%. During the same quarter last year, the business posted $1.16 EPS. Equities research analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a dividend of $0.45 per share. The ex-dividend date was Tuesday, September 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. American International Group’s dividend payout ratio (DPR) is currently 34.09%.

Analyst Ratings Changes

A number of research analysts recently commented on AIG shares. Evercore ISI upped their price target on shares of American International Group from $89.00 to $90.00 and gave the company an “in-line” rating in a research note on Wednesday, October 1st. Piper Sandler decreased their price target on shares of American International Group from $96.00 to $88.00 and set an “overweight” rating on the stock in a research note on Thursday, October 2nd. Citigroup began coverage on shares of American International Group in a research report on Wednesday, August 13th. They set a “neutral” rating and a $85.00 target price on the stock. Keefe, Bruyette & Woods decreased their target price on shares of American International Group from $97.00 to $91.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 12th. Finally, Cantor Fitzgerald upgraded shares of American International Group to a “hold” rating in a research report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, American International Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.81.

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.