Sequoia Financial Advisors LLC boosted its position in shares of American International Group, Inc. (NYSE:AIG – Free Report) by 2.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,534 shares of the insurance provider’s stock after purchasing an additional 194 shares during the period. Sequoia Financial Advisors LLC’s holdings in American International Group were worth $379,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Pathstone Family Office LLC lifted its holdings in American International Group by 4.0% during the 4th quarter. Pathstone Family Office LLC now owns 49,847 shares of the insurance provider’s stock valued at $5,086,000 after purchasing an additional 1,933 shares during the last quarter. Romano Brothers AND Company bought a new position in American International Group during the 4th quarter valued at about $38,000. Wesbanco Bank Inc. bought a new position in shares of American International Group in the fourth quarter worth about $342,000. PGGM Investments raised its stake in shares of American International Group by 4.7% in the fourth quarter. PGGM Investments now owns 99,728 shares of the insurance provider’s stock worth $6,307,000 after acquiring an additional 4,465 shares during the last quarter. Finally, Valeo Financial Advisors LLC raised its stake in shares of American International Group by 9.6% in the first quarter. Valeo Financial Advisors LLC now owns 16,014 shares of the insurance provider’s stock worth $806,000 after acquiring an additional 1,397 shares during the last quarter. 88.18% of the stock is owned by institutional investors.
American International Group Stock Down 0.2 %
Shares of NYSE AIG opened at $58.65 on Thursday. The stock has a market cap of $42.45 billion, a P/E ratio of 7.66, a P/E/G ratio of 0.91 and a beta of 1.13. The firm has a 50 day moving average price of $55.40 and a 200 day moving average price of $56.52. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.30 and a current ratio of 0.30. American International Group, Inc. has a 52-week low of $45.66 and a 52-week high of $64.88.
American International Group Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend was Thursday, June 15th. This is a boost from American International Group’s previous quarterly dividend of $0.32. American International Group’s dividend payout ratio is 18.80%.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the stock. Citigroup dropped their target price on shares of American International Group from $71.00 to $70.00 in a research note on Tuesday, April 18th. Barclays boosted their target price on shares of American International Group from $55.00 to $58.00 in a research note on Tuesday, May 9th. Morgan Stanley assumed coverage on shares of American International Group in a research note on Tuesday, June 20th. They issued an “equal weight” rating and a $57.00 target price for the company. TheStreet raised shares of American International Group from a “c+” rating to a “b-” rating in a research note on Friday, June 23rd. Finally, Piper Sandler lifted their price target on shares of American International Group from $76.00 to $77.00 in a research report on Tuesday, May 23rd. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, American International Group presently has a consensus rating of “Hold” and a consensus target price of $66.86.
Insider Activity
In other news, major shareholder International Group American sold 10,981,108 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $16.41, for a total value of $180,199,982.28. Following the completion of the transaction, the insider now owns 415,413,892 shares in the company, valued at $6,816,941,967.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.49% of the company’s stock.
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 General Insurance, and Life and Retirement segments. 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.
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