Veritable L.P. Acquires 223 Shares of American International Group, Inc. (NYSE:AIG)

Veritable L.P. increased its holdings in American International Group, Inc. (NYSE:AIG) by 2.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,895 shares of the insurance provider’s stock after acquiring an additional 223 shares during the quarter. Veritable L.P.’s holdings in American International Group were worth $627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in American International Group by 0.7% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 27,251 shares of the insurance provider’s stock valued at $1,294,000 after purchasing an additional 186 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of American International Group by 20.9% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,110 shares of the insurance provider’s stock worth $69,000 after acquiring an additional 192 shares during the period. Cyndeo Wealth Partners LLC raised its holdings in shares of American International Group by 0.7% during the 2nd quarter. Cyndeo Wealth Partners LLC now owns 30,355 shares of the insurance provider’s stock worth $1,747,000 after acquiring an additional 197 shares during the period. Annandale Capital LLC raised its holdings in shares of American International Group by 5.1% during the 1st quarter. Annandale Capital LLC now owns 4,101 shares of the insurance provider’s stock worth $207,000 after acquiring an additional 200 shares during the period. Finally, Concord Wealth Partners raised its holdings in shares of American International Group by 15.5% during the 2nd quarter. Concord Wealth Partners now owns 1,546 shares of the insurance provider’s stock worth $89,000 after acquiring an additional 207 shares during the period. 88.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AIG. Morgan Stanley raised their price objective on American International Group from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 9th. StockNews.com began coverage on American International Group in a research report on Thursday, October 5th. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft began coverage on American International Group in a research report on Wednesday, October 4th. They set a “buy” rating and a $79.00 price objective for the company. Wells Fargo & Company raised their price objective on American International Group from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 17th. Finally, Piper Sandler cut their price objective on American International Group from $81.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, November 6th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $68.71.

Insider Buying and Selling

In related news, major shareholder International Group American sold 50,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $20.50, for a total transaction of $1,025,000,000.00. Following the completion of the sale, the insider now owns 365,413,892 shares in the company, valued at $7,490,984,786. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.49% of the stock is owned by company insiders.

American International Group Stock Performance

Shares of American International Group stock opened at $64.48 on Friday. American International Group, Inc. has a one year low of $45.66 and a one year high of $64.94. The company has a market cap of $45.27 billion, a PE ratio of 12.35, a P/E/G ratio of 0.96 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. The business has a 50-day simple moving average of $61.64 and a 200-day simple moving average of $58.68.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Thursday, November 2nd. The insurance provider reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.06. American International Group had a return on equity of 10.66% and a net margin of 7.87%. The business had revenue of $12.77 billion during the quarter, compared to the consensus estimate of $12.62 billion. During the same period in the previous year, the company posted $0.66 earnings per share. On average, equities research analysts forecast that American International Group, Inc. will post 6.63 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 14th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.23%. The ex-dividend date is Wednesday, December 13th. American International Group’s payout ratio is 27.59%.

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.