Sagespring Wealth Partners LLC Makes New $300,000 Investment in American International Group, Inc. (NYSE:AIG)

Sagespring Wealth Partners LLC purchased a new stake in American International Group, Inc. (NYSE:AIG) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,127 shares of the insurance provider’s stock, valued at approximately $300,000.

A number of other hedge funds have also modified their holdings of AIG. Barclays PLC boosted its stake in American International Group by 24.7% during the third quarter. Barclays PLC now owns 2,748,674 shares of the insurance provider’s stock worth $201,286,000 after buying an additional 544,110 shares during the period. M&T Bank Corp boosted its holdings in American International Group by 329.0% during the 3rd quarter. M&T Bank Corp now owns 98,964 shares of the insurance provider’s stock valued at $7,247,000 after acquiring an additional 75,894 shares during the period. Advisory Resource Group boosted its holdings in American International Group by 5.3% in the third quarter. Advisory Resource Group now owns 58,996 shares of the insurance provider’s stock valued at $4,320,000 after purchasing an additional 2,951 shares in the last quarter. Virtu Financial LLC purchased a new position in American International Group in the third quarter valued at approximately $2,880,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of American International Group in the 3rd quarter valued at $1,005,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Stock Down 1.1 %

Shares of NYSE AIG opened at $81.01 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $80.85 and a 200 day moving average price of $76.81. American International Group, Inc. has a 52 week low of $69.00 and a 52 week high of $88.07. The stock has a market capitalization of $48.24 billion, a price-to-earnings ratio of -38.95, a price-to-earnings-growth ratio of 1.01 and a beta of 0.63.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. Equities research analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.98%. The ex-dividend date was Monday, March 17th. American International Group’s dividend payout ratio (DPR) is -76.92%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AIG. Hsbc Global Res raised American International Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft increased their price target on shares of American International Group to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, April 2nd. The Goldman Sachs Group lifted their price objective on shares of American International Group from $79.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday, April 1st. BMO Capital Markets increased their target price on shares of American International Group from $75.00 to $83.00 and gave the stock a “market perform” rating in a research note on Thursday, March 13th. Finally, Evercore ISI boosted their price target on American International Group from $81.00 to $89.00 and gave the company an “in-line” rating in a research report on Tuesday, April 1st. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $87.65.

Insider Activity

In other American International Group news, Director John G. Rice purchased 10,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were acquired at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $770,000. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.61% of the company’s stock.

American International Group Company 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.