World Investment Advisors Raises Position in American International Group, Inc. (NYSE:AIG)

World Investment Advisors boosted its stake in American International Group, Inc. (NYSE:AIG) by 61.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,315 shares of the insurance provider’s stock after buying an additional 3,528 shares during the period. World Investment Advisors’ holdings in American International Group were worth $810,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in American International Group by 175.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 181,810 shares of the insurance provider’s stock worth $15,807,000 after buying an additional 115,706 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of American International Group by 2.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,625 shares of the insurance provider’s stock worth $1,445,000 after purchasing an additional 355 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of American International Group by 34.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 11,161 shares of the insurance provider’s stock worth $813,000 after purchasing an additional 2,874 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of American International Group by 18.6% in the 1st quarter. GAMMA Investing LLC now owns 13,187 shares of the insurance provider’s stock worth $1,146,000 after purchasing an additional 2,069 shares in the last quarter. Finally, Brighton Jones LLC bought a new stake in shares of American International Group in the 4th quarter worth approximately $1,091,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Price Performance

Shares of AIG opened at $83.18 on Wednesday. The firm has a market cap of $47.94 billion, a PE ratio of -31.27, a P/E/G ratio of 0.91 and a beta of 0.63. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.21. The firm has a fifty day simple moving average of $83.81 and a two-hundred day simple moving average of $80.11. American International Group, Inc. has a 1-year low of $69.00 and a 1-year high of $88.07.

American International Group (NYSE:AIG) last announced its earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.13. The business 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 period in the previous year, the business earned $1.25 EPS. On average, equities analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.16%. This is a positive change from American International Group’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, June 13th. American International Group’s dividend payout ratio is -67.67%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AIG. BMO Capital Markets boosted their price target on American International Group from $75.00 to $83.00 and gave the stock a “market perform” rating in a research report on Thursday, March 13th. Barclays boosted their price target on American International Group from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Keefe, Bruyette & Woods boosted their price target on American International Group from $94.00 to $97.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $91.00 price target (up from $83.00) on shares of American International Group in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company upped their price objective on American International Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $88.12.

Insider Activity at American International Group

In other news, EVP Christopher Flatt sold 46,182 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $83.26, for a total value of $3,845,113.32. Following the completion of the sale, the executive vice president directly owned 21,400 shares in the company, valued at $1,781,764. This represents a 68.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.61% of the stock is owned by company insiders.

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.