Colonial River Investments LLC Purchases New Position in American International Group, Inc. (NYSE:AIG)

Colonial River Investments LLC purchased a new stake in American International Group, Inc. (NYSE:AIG) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 4,703 shares of the insurance provider’s stock, valued at approximately $409,000.

Several other institutional investors have also modified their holdings of AIG. Sumitomo Mitsui Trust Group Inc. lifted its position in American International Group by 5.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,518,122 shares of the insurance provider’s stock worth $131,986,000 after buying an additional 82,211 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in American International Group by 11.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 627,316 shares of the insurance provider’s stock worth $54,457,000 after purchasing an additional 63,281 shares during the last quarter. 3Chopt Investment Partners LLC bought a new stake in American International Group in the first quarter worth about $350,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of American International Group by 17.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 61,232 shares of the insurance provider’s stock worth $5,120,000 after acquiring an additional 9,061 shares during the last quarter. Finally, Achmea Investment Management B.V. lifted its stake in shares of American International Group by 29.8% during the 1st quarter. Achmea Investment Management B.V. now owns 253,149 shares of the insurance provider’s stock worth $22,009,000 after acquiring an additional 58,072 shares during the last quarter. 90.60% of the stock is owned by institutional investors.

American International Group Stock Performance

Shares of American International Group stock opened at $84.60 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market capitalization of $48.76 billion, a PE ratio of -31.80, a P/E/G ratio of 0.92 and a beta of 0.64. The company has a 50-day simple moving average of $83.52 and a two-hundred day simple moving average of $79.50. American International Group, Inc. has a one year low of $69.00 and a one year high of $88.07.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.04 by $0.13. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.89 billion. American International Group had a negative net margin of 7.05% and a positive return on equity of 7.13%. During the same quarter in the previous year, the business posted $1.25 EPS. Research analysts expect that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a dividend of $0.45 per share. This is a positive change from American International Group’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.13%. The ex-dividend date was Friday, June 13th. American International Group’s dividend payout ratio is currently -67.67%.

Insider Activity at American International Group

In other news, EVP Christopher Flatt sold 46,182 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the transaction, the executive vice president now owns 21,400 shares in the company, valued at $1,781,764. This represents a 68.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Barclays raised their price target on American International Group from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. BMO Capital Markets lifted their price objective on shares of American International Group from $75.00 to $83.00 and gave the company a “market perform” rating in a report on Thursday, March 13th. Keefe, Bruyette & Woods lifted their price objective on shares of American International Group from $94.00 to $97.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Evercore ISI lifted their target price 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. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $91.00 target price (up from $83.00) on shares of American International Group in a research report on Tuesday, April 8th. Nine research 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 stock. According to MarketBeat, American International Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.12.

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.