Empirical Financial Services LLC d.b.a. Empirical Wealth Management Raises Holdings in American International Group, Inc. $AIG

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in American International Group, Inc. (NYSE:AIG) by 21.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,366 shares of the insurance provider’s stock after purchasing an additional 7,432 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in American International Group were worth $3,188,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Nordea Investment Management AB raised its position in American International Group by 129.9% in the 4th quarter. Nordea Investment Management AB now owns 136,069 shares of the insurance provider’s stock worth $11,695,000 after buying an additional 76,874 shares during the last quarter. Cypress Wealth Services LLC purchased a new stake in shares of American International Group during the 4th quarter valued at about $1,269,000. Board of the Pension Protection Fund boosted its holdings in shares of American International Group by 296.1% during the 4th quarter. Board of the Pension Protection Fund now owns 20,200 shares of the insurance provider’s stock valued at $1,728,000 after acquiring an additional 15,100 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of American International Group by 20.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 88,932 shares of the insurance provider’s stock worth $7,608,000 after acquiring an additional 15,116 shares during the period. Finally, Norges Bank bought a new stake in shares of American International Group in the fourth quarter worth approximately $636,782,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on AIG. BMO Capital Markets increased their price objective on shares of American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. Weiss Ratings raised shares of American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. Bank of America lowered their price target on American International Group from $80.00 to $79.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Citigroup raised their price target on American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Finally, UBS Group lifted their price objective on American International Group from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, American International Group presently has a consensus rating of “Moderate Buy” and an average target price of $88.44.

American International Group Stock Performance

AIG opened at $79.12 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23. The company has a market cap of $41.95 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 0.73 and a beta of 0.53. The company’s 50 day moving average is $76.33 and its 200 day moving average is $76.82. American International Group, Inc. has a 12-month low of $71.25 and a 12-month high of $87.29.

American International Group (NYSE:AIG) last announced its earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.22. American International Group had a net margin of 11.86% and a return on equity of 10.93%. The company had revenue of $6.65 billion during the quarter, compared to analyst estimates of $7.03 billion. During the same period in the previous year, the business posted $1.17 earnings per share. On average, equities research analysts predict that American International Group, Inc. will post 8 EPS for the current year.

American International Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, June 15th. This is a positive change from American International Group’s previous quarterly dividend of $0.45. American International Group’s payout ratio is presently 35.27%.

American International Group Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.