Traders Buy American International Group (AIG) on Weakness

Traders purchased shares of American International Group Inc (NYSE:AIG) on weakness during trading on Tuesday. $70.27 million flowed into the stock on the tick-up and $43.98 million flowed out of the stock on the tick-down, for a money net flow of $26.29 million into the stock. Of all equities tracked, American International Group had the 16th highest net in-flow for the day. American International Group traded down ($0.18) for the day and closed at $59.43

AIG has been the subject of a number of research reports. Zacks Investment Research lowered American International Group from a “hold” rating to a “sell” rating in a research note on Monday, October 30th. Bank of America lowered American International Group from a “buy” rating to a “neutral” rating and set a $69.00 price target for the company. in a research note on Friday, November 3rd. B. Riley reissued a “neutral” rating on shares of American International Group in a research note on Monday, November 6th. Goldman Sachs Group initiated coverage on American International Group in a research note on Monday, December 4th. They set a “neutral” rating and a $61.00 price target for the company. Finally, Deutsche Bank raised American International Group from a “sell” rating to a “hold” rating and increased their price target for the company from $58.00 to $59.00 in a research note on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $66.87.

The firm has a market cap of $53,427.57, a P/E ratio of -8.65, a PEG ratio of 0.95 and a beta of 1.18. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.43.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Thursday, February 8th. The insurance provider reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.18). American International Group had a negative net margin of 5.07% and a positive return on equity of 3.02%. During the same period in the prior year, the business earned ($2.96) earnings per share. equities research analysts anticipate that American International Group Inc will post 5.66 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Wednesday, March 14th. American International Group’s payout ratio is -18.63%.

Large investors have recently bought and sold shares of the company. Connable Office Inc. bought a new stake in shares of American International Group during the 3rd quarter worth approximately $1,563,000. State of Alaska Department of Revenue lifted its stake in shares of American International Group by 334.7% during the 4th quarter. State of Alaska Department of Revenue now owns 97,947 shares of the insurance provider’s stock worth $5,834,000 after acquiring an additional 75,415 shares during the last quarter. Synovus Financial Corp lifted its stake in shares of American International Group by 1.9% during the 3rd quarter. Synovus Financial Corp now owns 93,385 shares of the insurance provider’s stock worth $5,715,000 after acquiring an additional 1,727 shares during the last quarter. Patriot Wealth Management Inc. lifted its stake in shares of American International Group by 1.4% during the 4th quarter. Patriot Wealth Management Inc. now owns 142,495 shares of the insurance provider’s stock worth $8,490,000 after acquiring an additional 1,989 shares during the last quarter. Finally, Torray LLC lifted its stake in shares of American International Group by 26.0% during the 3rd quarter. Torray LLC now owns 190,836 shares of the insurance provider’s stock worth $11,715,000 after acquiring an additional 39,368 shares during the last quarter. 85.61% of the stock is owned by institutional investors and hedge funds.

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About American International Group

American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.

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