Arbor Wealth Management LLC Increases Holdings in American International Group Inc (AIG)
Arbor Wealth Management LLC boosted its stake in shares of American International Group Inc (NYSE:AIG) by 15.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 66,261 shares of the insurance provider’s stock after purchasing an additional 9,074 shares during the period. American International Group makes up approximately 3.5% of Arbor Wealth Management LLC’s portfolio, making the stock its 7th biggest holding. Arbor Wealth Management LLC’s holdings in American International Group were worth $4,072,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in AIG. Valeo Financial Advisors LLC purchased a new stake in shares of American International Group during the 3rd quarter worth about $1,137,000. AlphaStar Capital Management LLC purchased a new stake in shares of American International Group during the 3rd quarter worth about $251,000. Patten Group Inc. lifted its stake in American International Group by 328.8% in the 3rd quarter. Patten Group Inc. now owns 106,389 shares of the insurance provider’s stock valued at $1,491,000 after buying an additional 81,576 shares in the last quarter. Madison Investment Holdings Inc. lifted its stake in American International Group by 14.8% in the 3rd quarter. Madison Investment Holdings Inc. now owns 268,387 shares of the insurance provider’s stock valued at $16,476,000 after buying an additional 34,560 shares in the last quarter. Finally, Bank of Nova Scotia Trust Co. purchased a new position in American International Group in the 3rd quarter valued at about $109,000. 86.10% of the stock is currently owned by institutional investors.
Shares of American International Group Inc (NYSE:AIG) opened at $59.51 on Monday. American International Group Inc has a 1-year low of $57.90 and a 1-year high of $67.47. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.26 and a quick ratio of 0.26. The firm has a market cap of $53,497.07, a P/E ratio of 23.71, a P/E/G ratio of 1.96 and a beta of 1.17.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be given a $0.32 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.28 annualized dividend and a yield of 2.15%. American International Group’s dividend payout ratio is presently -51.00%.
AIG has been the topic of a number of research reports. BidaskClub lowered shares of American International Group from a “hold” rating to a “sell” rating in a research note on Sunday, August 13th. Royal Bank Of Canada reiterated a “buy” rating and issued a $73.00 price objective on shares of American International Group in a report on Wednesday, September 6th. Buckingham Research assumed coverage on shares of American International Group in a report on Monday, September 11th. They issued an “underperform” rating and a $52.00 price objective for the company. UBS cut their price objective on shares of American International Group from $65.00 to $64.00 and set a “neutral” rating for the company in a report on Tuesday, September 19th. Finally, Wells Fargo & Company reiterated a “buy” rating and issued a $75.00 price objective on shares of American International Group in a report on Sunday, October 1st. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $67.70.
American International Group Company Profile
American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.
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