Concurrent Investment Advisors LLC Takes $205,000 Position in American International Group, Inc. (NYSE:AIG)

Concurrent Investment Advisors LLC bought a new stake in shares of American International Group, Inc. (NYSE:AIG) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 2,794 shares of the insurance provider’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC lifted its holdings in American International Group by 20.9% in the first quarter. Empowered Funds LLC now owns 10,871 shares of the insurance provider’s stock valued at $850,000 after buying an additional 1,877 shares during the period. Avantax Advisory Services Inc. boosted its stake in shares of American International Group by 2.8% in the first quarter. Avantax Advisory Services Inc. now owns 6,106 shares of the insurance provider’s stock valued at $477,000 after buying an additional 165 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of American International Group by 12.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 935,146 shares of the insurance provider’s stock valued at $73,100,000 after buying an additional 104,567 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in American International Group by 21.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 841,341 shares of the insurance provider’s stock worth $65,768,000 after purchasing an additional 149,037 shares during the period. Finally, Beacon Investment Advisory Services Inc. increased its stake in American International Group by 3.1% in the first quarter. Beacon Investment Advisory Services Inc. now owns 64,172 shares of the insurance provider’s stock valued at $5,016,000 after acquiring an additional 1,940 shares during the last quarter. 90.60% of the stock is owned by institutional investors.

Insider Activity at American International Group

In other news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the transaction, the insider now owns 279,238,898 shares in the company, valued at $8,058,834,596.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.61% of the stock is owned by corporate insiders.

American International Group Stock Performance

Shares of NYSE:AIG opened at $75.38 on Tuesday. The stock’s 50-day moving average is $75.15 and its 200 day moving average is $75.67. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67. American International Group, Inc. has a 1 year low of $63.35 and a 1 year high of $80.83.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. The company had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.62 billion. American International Group had a positive return on equity of 8.49% and a negative net margin of 6.19%. During the same quarter last year, the firm posted $1.61 earnings per share. On average, analysts anticipate that American International Group, Inc. will post 5.14 EPS for the current fiscal year.

American International Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s payout ratio is -47.20%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wells Fargo & Company cut their price objective on American International Group from $77.00 to $76.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and issued a $87.00 target price on shares of American International Group in a report on Wednesday, November 6th. Jefferies Financial Group increased their price target on American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Citigroup dropped their price objective on American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, July 23rd. Finally, Bank of America raised their price objective on shares of American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $84.31.

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.