Savvy Advisors Inc. Takes $217,000 Position in American International Group, Inc. $AIG

Savvy Advisors Inc. bought a new stake in American International Group, Inc. (NYSE:AIG) during the second quarter, according to its most recent filing with the SEC. The firm bought 2,538 shares of the insurance provider’s stock, valued at approximately $217,000.

Other hedge funds also recently bought and sold shares of the company. Sachetta LLC increased its stake in shares of American International Group by 194.5% in the first quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 249 shares during the period. GFG Capital LLC acquired a new position in shares of American International Group during the second quarter worth approximately $33,000. Barrett & Company Inc. bought a new stake in shares of American International Group in the second quarter valued at approximately $35,000. Caitong International Asset Management Co. Ltd bought a new position in American International Group during the second quarter worth $40,000. Finally, Hemington Wealth Management raised its stake in American International Group by 42.8% during the 1st quarter. Hemington Wealth Management now owns 474 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 142 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AIG has been the topic of several research reports. Keefe, Bruyette & Woods dropped their price objective on shares of American International Group from $97.00 to $91.00 and set an “outperform” rating on the stock in a report on Tuesday, August 12th. Evercore ISI upped their price target on American International Group from $89.00 to $90.00 and gave the company an “in-line” rating in a report on Wednesday, October 1st. Jefferies Financial Group lifted their price objective on American International Group from $96.00 to $99.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. William Blair upgraded American International Group to a “strong-buy” rating in a research note on Friday, August 1st. Finally, Citigroup began coverage on American International Group in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $85.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $89.81.

American International Group Price Performance

Shares of AIG stock opened at $79.02 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63. The stock’s fifty day simple moving average is $79.56 and its 200 day simple moving average is $81.30. American International Group, Inc. has a one year low of $69.24 and a one year high of $88.07. The firm has a market cap of $43.78 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 0.77 and a beta of 0.68.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.60 by $0.21. The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.81 billion. American International Group had a net margin of 11.51% and a return on equity of 7.88%. During the same quarter in the previous year, the company earned $1.16 EPS. On average, analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. American International Group’s dividend payout ratio (DPR) is presently 34.09%.

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 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.