GC Wealth Management RIA LLC Invests $443,000 in American International Group, Inc. $AIG

GC Wealth Management RIA LLC bought a new stake in shares of American International Group, Inc. (NYSE:AIG) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 5,175 shares of the insurance provider’s stock, valued at approximately $443,000.

Several other institutional investors have also recently added to or reduced their stakes in AIG. GQG Partners LLC increased its stake in American International Group by 33,315.0% during the first quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider’s stock valued at $1,643,995,000 after purchasing an additional 18,852,949 shares during the last quarter. Nuveen LLC bought a new stake in American International Group during the first quarter valued at $440,273,000. AQR Capital Management LLC increased its stake in American International Group by 184.4% during the first quarter. AQR Capital Management LLC now owns 3,335,040 shares of the insurance provider’s stock valued at $287,214,000 after purchasing an additional 2,162,545 shares during the last quarter. Raymond James Financial Inc. increased its stake in American International Group by 151.6% during the first quarter. Raymond James Financial Inc. now owns 3,285,963 shares of the insurance provider’s stock valued at $285,682,000 after purchasing an additional 1,980,001 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in American International Group by 20.4% during the first quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider’s stock valued at $974,840,000 after purchasing an additional 1,901,998 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

AIG stock opened at $78.55 on Wednesday. The company has a market capitalization of $43.52 billion, a P/E ratio of 14.88, a PEG ratio of 0.83 and a beta of 0.70. The company has a 50-day simple moving average of $79.26 and a 200 day simple moving average of $81.76. American International Group, Inc. has a fifty-two week low of $69.24 and a fifty-two week 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 posted its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.21. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. Sell-side analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

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

Analyst Ratings Changes

Several analysts have weighed in on AIG shares. Wolfe Research started coverage on shares of American International Group in a research note on Tuesday, September 16th. They set a “peer perform” rating for the company. William Blair upgraded shares of American International Group to a “strong-buy” rating in a research note on Friday, August 1st. Cantor Fitzgerald raised shares of American International Group to a “hold” rating in a report on Tuesday, August 12th. Cfra Research upgraded shares of American International Group to a “moderate buy” rating in a research report on Monday, August 11th. Finally, Wall Street Zen lowered shares of American International Group from a “buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.27.

American International Group 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.