Sequoia Financial Advisors LLC Acquires 21,279 Shares of American International Group, Inc. (NYSE:AIG)

Sequoia Financial Advisors LLC lifted its holdings in shares of American International Group, Inc. (NYSE:AIG) by 121.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,809 shares of the insurance provider’s stock after acquiring an additional 21,279 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in American International Group were worth $2,629,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in AIG. Fairfield Bush & CO. bought a new position in shares of American International Group during the 1st quarter worth approximately $84,000. Cetera Advisor Networks LLC boosted its stake in shares of American International Group by 11.7% during the 1st quarter. Cetera Advisor Networks LLC now owns 5,535 shares of the insurance provider’s stock worth $347,000 after acquiring an additional 578 shares during the period. Blair William & Co. IL boosted its stake in shares of American International Group by 1.2% during the 1st quarter. Blair William & Co. IL now owns 100,861 shares of the insurance provider’s stock worth $6,331,000 after acquiring an additional 1,207 shares during the period. Cetera Investment Advisers boosted its stake in shares of American International Group by 20.1% during the 1st quarter. Cetera Investment Advisers now owns 20,447 shares of the insurance provider’s stock worth $1,283,000 after acquiring an additional 3,428 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its stake in shares of American International Group by 5.1% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 60,253 shares of the insurance provider’s stock worth $3,782,000 after acquiring an additional 2,916 shares during the period. 90.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director John C. Inglis bought 659 shares of the stock in a transaction on Thursday, March 14th. The stock was acquired at an average price of $75.39 per share, with a total value of $49,682.01. Following the acquisition, the director now directly owns 659 shares in the company, valued at $49,682.01. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other American International Group news, CEO Peter Zaffino sold 333,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.87, for a total value of $25,264,710.00. Following the sale, the chief executive officer now owns 505,420 shares in the company, valued at approximately $38,346,215.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John C. Inglis purchased 659 shares of American International Group stock in a transaction on Thursday, March 14th. The stock was bought at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the transaction, the director now directly owns 659 shares in the company, valued at approximately $49,682.01. The disclosure for this purchase can be found here. Insiders own 0.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. TD Cowen assumed coverage on American International Group in a research note on Wednesday, January 10th. They issued a “market perform” rating and a $78.00 price target for the company. BMO Capital Markets reduced their price target on American International Group from $83.00 to $81.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Royal Bank of Canada boosted their price target on American International Group from $76.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Piper Sandler restated an “overweight” rating and issued a $87.00 price target on shares of American International Group in a research note on Monday, April 1st. Finally, Wells Fargo & Company boosted their price target on American International Group from $74.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $77.35.

American International Group Price Performance

American International Group stock opened at $74.15 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31. American International Group, Inc. has a 52 week low of $48.95 and a 52 week high of $78.95. The stock has a market capitalization of $50.49 billion, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 1.10 and a beta of 1.03. The stock has a fifty day moving average of $73.69 and a 200-day moving average of $67.91.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.20. American International Group had a return on equity of 10.68% and a net margin of 7.78%. The business had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the prior year, the firm earned $1.36 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. On average, sell-side analysts expect that American International Group, Inc. will post 7.1 earnings per share for the current fiscal year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.94%. American International Group’s payout ratio is presently 28.86%.

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.