Syverson Strege & Co Invests $340,000 in American International Group, Inc. $AIG

Syverson Strege & Co purchased a new position in American International Group, Inc. (NYSE:AIG) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,969 shares of the insurance provider’s stock, valued at approximately $340,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AIG. Sachetta LLC raised its position in American International Group by 194.5% in the first quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 249 shares in the last quarter. GFG Capital LLC bought a new stake in American International Group in the second quarter worth about $33,000. Barrett & Company Inc. bought a new stake in American International Group in the second quarter worth about $35,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of American International Group during the 2nd quarter valued at $40,000. Finally, Hemington Wealth Management lifted its position in shares of American International Group by 42.8% during the 1st quarter. Hemington Wealth Management now owns 474 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 142 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors.

American International Group Price Performance

AIG opened at $79.02 on Friday. The stock has a fifty day moving average of $79.56 and a 200-day moving average of $81.30. The firm has a market capitalization of $43.78 billion, a P/E ratio of 14.97, a PEG ratio of 0.77 and a beta of 0.68. American International Group, Inc. has a 12-month low of $69.24 and a 12-month high of $88.07. 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 released its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.21. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned $1.16 earnings per share. Equities analysts forecast that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. American International Group’s dividend payout ratio is 34.09%.

Analysts Set New Price Targets

A number of brokerages have recently commented on AIG. Citigroup began coverage on American International Group in a research report on Wednesday, August 13th. They set a “neutral” rating and a $85.00 price objective for the company. The Goldman Sachs Group increased their price objective on American International Group from $85.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Morgan Stanley cut their price objective on American International Group from $85.00 to $84.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Piper Sandler cut their price objective on American International Group from $96.00 to $88.00 and set an “overweight” rating for the company in a research report on Thursday, October 2nd. Finally, Evercore ISI increased their price objective on American International Group from $89.00 to $90.00 and gave the company an “in-line” rating in a research report on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, American International Group has an average rating of “Moderate Buy” and a consensus price target of $89.81.

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.