Sequoia Financial Advisors LLC Has $2.55 Million Stake in American International Group, Inc. $AIG

Sequoia Financial Advisors LLC lifted its position in shares of American International Group, Inc. (NYSE:AIG) by 33.0% during the second quarter, Holdings Channel.com reports. The firm owned 34,274 shares of the insurance provider’s stock after buying an additional 8,500 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in American International Group were worth $2,554,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Modus Advisors LLC bought a new stake in American International Group in the 4th quarter valued at $27,000. Mcguire Capital Advisors Inc. bought a new position in American International Group during the 4th quarter worth $29,000. First Bancorp Inc ME acquired a new stake in shares of American International Group during the second quarter worth $30,000. SHP Wealth Management bought a new stake in shares of American International Group in the fourth quarter valued at about $34,000. Finally, Fiduciary Financial Advisors bought a new stake in shares of American International Group in the second quarter valued at about $34,000. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Trading Down 0.0%

AIG opened at $75.33 on Monday. American International Group, Inc. has a twelve month low of $71.25 and a twelve month high of $87.29. The company has a 50-day simple moving average of $77.79 and a 200 day simple moving average of $76.82. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $39.39 billion, a price-to-earnings ratio of 13.77, a P/E/G ratio of 0.84 and a beta of 0.50.

American International Group (NYSE:AIG) last released its earnings results on Friday, August 7th. The insurance provider reported $2.00 EPS for the quarter, beating the consensus estimate of $1.92 by $0.08. The firm had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.25 billion. American International Group had a net margin of 11.13% and a return on equity of 11.05%. During the same period last year, the firm earned $1.81 EPS. Analysts predict that American International Group, Inc. will post 8.02 EPS for the current fiscal year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, September 16th. American International Group’s dividend payout ratio (DPR) is 36.56%.

Insider Transactions at American International Group

In other American International Group news, insider Peter Zaffino sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total transaction of $15,294,000.00. Following the completion of the transaction, the insider directly owned 592,833 shares in the company, valued at $45,333,939.51. The trade was a 25.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AIG has been the topic of a number of recent research reports. UBS Group raised their price target on shares of American International Group from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Weiss Ratings raised shares of American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. Barclays increased their target price on shares of American International Group from $80.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. HSBC lowered their target price on shares of American International Group from $94.00 to $88.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Finally, JPMorgan Chase & Co. boosted their price target on American International Group from $86.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Eight analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $88.37.

American International Group Company Profile

American International Group, Inc (NYSE:AIG) is a global insurance organization that provides commercial and personal insurance products and services. Through its General Insurance business, AIG offers property, casualty, liability, workers’ compensation, accident, specialty, and other insurance solutions to businesses, institutions, and individuals.

AIG serves multinational corporations, small and midsize businesses, public-sector organizations, and individual policyholders through a network spanning numerous countries and jurisdictions.