Founders Financial Securities LLC Boosts Stake in American International Group, Inc. (NYSE:AIG)

Founders Financial Securities LLC boosted its stake in shares of American International Group, Inc. (NYSE:AIG) by 3.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,189 shares of the insurance provider’s stock after buying an additional 319 shares during the period. Founders Financial Securities LLC’s holdings in American International Group were worth $682,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Capital Research Global Investors lifted its holdings in American International Group by 0.4% during the fourth quarter. Capital Research Global Investors now owns 41,770,175 shares of the insurance provider’s stock worth $2,829,930,000 after buying an additional 176,286 shares during the period. Norges Bank purchased a new stake in shares of American International Group during the 4th quarter valued at $746,005,000. Putnam Investments LLC lifted its holdings in shares of American International Group by 3.8% during the 4th quarter. Putnam Investments LLC now owns 8,245,693 shares of the insurance provider’s stock valued at $558,646,000 after purchasing an additional 300,712 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of American International Group by 0.6% during the 1st quarter. Clearbridge Investments LLC now owns 5,440,355 shares of the insurance provider’s stock valued at $425,273,000 after purchasing an additional 31,340 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of American International Group by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,395,566 shares of the insurance provider’s stock valued at $297,800,000 after purchasing an additional 32,065 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insider Activity at American International Group

In related news, major shareholder International Group American sold 8,032,129 shares of American International Group stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total value of $200,000,012.10. Following the completion of the sale, the insider now owns 284,238,898 shares in the company, valued at approximately $7,077,548,560.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is owned by insiders.

American International Group Trading Up 0.9 %

AIG opened at $76.69 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. The company’s 50 day simple moving average is $75.09 and its two-hundred day simple moving average is $75.55. American International Group, Inc. has a 1-year low of $57.72 and a 1-year high of $80.83. The firm has a market capitalization of $49.38 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 3.84 and a beta of 1.07.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.14). The firm had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.64 billion. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.75 EPS. Analysts expect that American International Group, Inc. will post 5.24 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 annualized dividend and a yield of 2.09%. American International Group’s dividend payout ratio (DPR) is presently 23.88%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AIG. BMO Capital Markets increased their price objective on American International Group from $88.00 to $89.00 and gave the company an “outperform” rating in a report on Monday, May 13th. TD Cowen cut their price target on American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. HSBC downgraded American International Group from a “buy” rating to a “hold” rating and set a $86.00 price target on the stock. in a research report on Wednesday, May 15th. Piper Sandler cut their price target on American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $87.00 price target on shares of American International Group in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $83.47.

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.