Joel Isaacson & Co. LLC Makes New Investment in American International Group, Inc. $AIG

Joel Isaacson & Co. LLC bought a new position in American International Group, Inc. (NYSE:AIG) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 2,590 shares of the insurance provider’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pinnacle Associates Ltd. lifted its holdings in American International Group by 1.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 7,706 shares of the insurance provider’s stock worth $670,000 after purchasing an additional 122 shares in the last quarter. Miracle Mile Advisors LLC lifted its holdings in American International Group by 1.6% during the 1st quarter. Miracle Mile Advisors LLC now owns 8,094 shares of the insurance provider’s stock worth $704,000 after purchasing an additional 124 shares in the last quarter. Western Pacific Wealth Management LP lifted its holdings in American International Group by 2.3% during the 1st quarter. Western Pacific Wealth Management LP now owns 5,673 shares of the insurance provider’s stock worth $493,000 after purchasing an additional 125 shares in the last quarter. Aaron Wealth Advisors LLC increased its stake in American International Group by 2.4% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 5,466 shares of the insurance provider’s stock worth $468,000 after acquiring an additional 126 shares during the last quarter. Finally, Montag A & Associates Inc. increased its stake in American International Group by 0.7% in the 1st quarter. Montag A & Associates Inc. now owns 17,788 shares of the insurance provider’s stock worth $1,546,000 after acquiring an additional 130 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Trading Down 0.0%

Shares of AIG stock opened at $84.01 on Thursday. The stock has a market capitalization of $46.54 billion, a PE ratio of 15.91, a P/E/G ratio of 0.89 and a beta of 0.68. American International Group, Inc. has a 1-year low of $69.24 and a 1-year high of $88.07. The business has a 50-day moving average of $79.61 and a 200 day moving average of $81.70. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.21. The company had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.81 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same period in the prior year, the business posted $1.16 EPS. As a group, sell-side analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a $0.45 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $1.80 annualized dividend and a yield of 2.1%. American International Group’s dividend payout ratio (DPR) is 34.09%.

Analyst Ratings Changes

A number of equities analysts have weighed in on AIG shares. The Goldman Sachs Group upped their target price on American International Group from $85.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday. Keefe, Bruyette & Woods decreased their target price on American International Group from $97.00 to $91.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 12th. Cantor Fitzgerald upgraded American International Group to a “hold” rating in a research note on Tuesday, August 12th. Wolfe Research started coverage on American International Group in a research note on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Finally, Evercore ISI upped their target price on American International Group from $89.00 to $90.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 1st. Two 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 stock. According to data from MarketBeat, American International Group has a consensus rating of “Moderate Buy” and a consensus price target of $88.94.

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.