NewEdge Wealth LLC Buys 9,686 Shares of American International Group, Inc. $AIG

NewEdge Wealth LLC raised its stake in shares of American International Group, Inc. (NYSE:AIG) by 156.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 15,888 shares of the insurance provider’s stock after buying an additional 9,686 shares during the quarter. NewEdge Wealth LLC’s holdings in American International Group were worth $1,359,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its holdings in shares of American International Group by 2.6% during the second quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock valued at $434,000 after acquiring an additional 129 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in American International Group by 2.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock worth $396,000 after purchasing an additional 130 shares in the last quarter. JFS Wealth Advisors LLC grew its position in American International Group by 17.7% during the 3rd quarter. JFS Wealth Advisors LLC now owns 872 shares of the insurance provider’s stock valued at $68,000 after purchasing an additional 131 shares during the last quarter. Howard Capital Management Inc. grew its position in American International Group by 3.0% during the 3rd quarter. Howard Capital Management Inc. now owns 4,717 shares of the insurance provider’s stock valued at $370,000 after purchasing an additional 138 shares during the last quarter. Finally, One Wealth Capital Management LLC increased its stake in American International Group by 3.7% during the 3rd quarter. One Wealth Capital Management LLC now owns 4,005 shares of the insurance provider’s stock valued at $315,000 after purchasing an additional 144 shares in the last quarter. 90.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AIG shares. Piper Sandler dropped their target price on shares of American International Group from $95.00 to $88.00 and set an “overweight” rating on the stock in a research note on Thursday, February 12th. Barclays raised their price target on shares of American International Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. BMO Capital Markets boosted their price objective on shares of American International Group from $83.00 to $89.00 in a report on Thursday, May 7th. Keefe, Bruyette & Woods increased their target price on American International Group from $97.00 to $98.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, HSBC lifted their target price on American International Group from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $88.06.

American International Group Stock Performance

Shares of NYSE AIG opened at $75.75 on Thursday. The firm’s 50-day moving average price is $76.35 and its 200-day moving average price is $77.70. American International Group, Inc. has a 52-week low of $71.25 and a 52-week high of $87.46. The company has a market cap of $40.16 billion, a PE ratio of 13.36, a PEG ratio of 0.73 and a beta of 0.53. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23.

American International Group (NYSE:AIG) last released its quarterly earnings data on Thursday, April 30th. The insurance provider reported $2.11 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.22. The firm had revenue of $7.02 billion during the quarter, compared to analysts’ expectations of $7.03 billion. American International Group had a net margin of 11.86% and a return on equity of 10.93%. During the same period in the previous year, the company earned $1.17 earnings per share. As a group, analysts anticipate that American International Group, Inc. will post 7.95 EPS for the current year.

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. This is a boost from American International Group’s previous quarterly dividend of $0.45. American International Group’s dividend payout ratio (DPR) is presently 31.75%.

American International Group Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.