Kingsview Wealth Management LLC Boosts Holdings in American International Group, Inc. $AIG

Kingsview Wealth Management LLC boosted its holdings in American International Group, Inc. (NYSE:AIG) by 422.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,729 shares of the insurance provider’s stock after acquiring an additional 28,085 shares during the quarter. Kingsview Wealth Management LLC’s holdings in American International Group were worth $2,972,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in AIG. GFG Capital LLC acquired a new stake in shares of American International Group in the 2nd quarter worth approximately $33,000. Barrett & Company Inc. purchased a new stake in shares of American International Group in the 2nd quarter worth about $35,000. NewSquare Capital LLC increased its holdings in American International Group by 58.6% during the 2nd quarter. NewSquare Capital LLC now owns 417 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 154 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of American International Group in the second quarter worth $40,000. Finally, Hemington Wealth Management lifted its holdings in American International Group by 42.8% in the 1st quarter. Hemington Wealth Management now owns 474 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 142 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Citigroup assumed coverage on American International Group in a research note on Wednesday, August 13th. They issued a “neutral” rating and a $85.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of American International Group in a research report on Thursday, November 13th. Keefe, Bruyette & Woods lowered their target price on American International Group from $97.00 to $91.00 and set an “outperform” rating for the company in a research note on Tuesday, August 12th. Cfra Research raised American International Group to a “moderate buy” rating in a research report on Monday, August 11th. Finally, Wolfe Research started coverage on American International Group in a report on Tuesday, September 16th. They issued a “peer perform” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $90.00.

American International Group Trading Up 0.8%

Shares of NYSE:AIG opened at $77.04 on Wednesday. The company has a 50 day moving average of $78.71 and a 200-day moving average of $80.95. The firm has a market cap of $41.57 billion, a P/E ratio of 14.59, a P/E/G ratio of 0.77 and a beta of 0.73. American International Group, Inc. has a twelve month low of $69.24 and a twelve month high of $88.07. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.63. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.82 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same period in the previous year, the firm posted $1.23 EPS. As a group, analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 16th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, December 16th. American International Group’s payout ratio is currently 32.73%.

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.