MBL Wealth LLC Makes New $722,000 Investment in American International Group, Inc. $AIG

MBL Wealth LLC purchased a new position in American International Group, Inc. (NYSE:AIG) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,706 shares of the insurance provider’s stock, valued at approximately $722,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Ledyard National Bank increased its position in shares of American International Group by 2.2% in the 3rd quarter. Ledyard National Bank now owns 30,487 shares of the insurance provider’s stock valued at $2,269,000 after acquiring an additional 660 shares during the period. Root Financial Partners LLC acquired a new stake in American International Group during the 3rd quarter worth about $191,000. Axxcess Wealth Management LLC lifted its position in American International Group by 141.5% during the 3rd quarter. Axxcess Wealth Management LLC now owns 8,211 shares of the insurance provider’s stock worth $611,000 after acquiring an additional 4,811 shares during the period. Integrated Advisors Network LLC grew its stake in American International Group by 1.3% during the 3rd quarter. Integrated Advisors Network LLC now owns 13,542 shares of the insurance provider’s stock valued at $1,008,000 after purchasing an additional 176 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in American International Group by 0.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,396,647 shares of the insurance provider’s stock valued at $103,938,000 after purchasing an additional 10,427 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AIG has been the subject of several research analyst reports. Royal Bank Of Canada raised their price objective on American International Group from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research note on Monday, August 10th. UBS Group lifted their target price on American International Group from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, October 6th. Argus reiterated a “buy” rating and issued a $90.00 target price on shares of American International Group in a research report on Wednesday, September 2nd. Barclays increased their price target on shares of American International Group from $80.00 to $81.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Finally, Morgan Stanley reduced their price target on shares of American International Group from $81.00 to $80.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 6th. Eight investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $87.68.

American International Group Stock Performance

NYSE:AIG traded down $1.78 during mid-day trading on Friday, hitting $81.25. The company’s stock had a trading volume of 5,139,745 shares, compared to its average volume of 5,016,777. The business’s fifty day moving average is $76.59 and its two-hundred day moving average is $76.83. The stock has a market cap of $42.49 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 0.87 and a beta of 0.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $87.29.

American International Group (NYSE:AIG) last released its quarterly earnings data on Friday, August 7th. The insurance provider reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. The business had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.25 billion. American International Group had a return on equity of 11.05% and a net margin of 11.13%. During the same quarter last year, the business posted $1.81 EPS. Analysts anticipate that American International Group, Inc. will post 8.07 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.5%. The ex-dividend date was Wednesday, September 16th. American International Group’s dividend payout ratio is currently 36.56%.

Insider Activity at American International Group

In other news, insider Peter Zaffino sold 36,829 shares of American International Group stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $76.14, for a total transaction of $2,804,160.06. Following the completion of the transaction, the insider directly owned 556,004 shares of the company’s stock, valued at $42,334,144.56. The trade was a 6.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by insiders.

American International Group Profile

American International Group, Inc (NYSE:AIG) is a global insurance organization that provides property and casualty insurance products and related services to businesses, institutions, and individuals. Its offerings include commercial insurance, personal insurance, specialty coverage, accident and health products, and travel-related protection.

AIG serves customers through operations in the United States and international markets. Its commercial insurance business supports companies across industries with coverage such as property, casualty, liability, marine, and other specialty risks, while its personal insurance operations provide protection for individuals and families.

The company was founded in Shanghai in 1919 by Cornelius Vander Starr and is headquartered in New York City.