American International Group, Inc. (NYSE:AIG) Position Boosted by Spartan Planning & Wealth Management

Spartan Planning & Wealth Management grew its holdings in shares of American International Group, Inc. (NYSE:AIG) by 369.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,023 shares of the insurance provider’s stock after purchasing an additional 805 shares during the period. Spartan Planning & Wealth Management’s holdings in American International Group were worth $69,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in AIG. Aviva PLC boosted its holdings in shares of American International Group by 71.8% in the third quarter. Aviva PLC now owns 347,018 shares of the insurance provider’s stock worth $21,029,000 after buying an additional 145,010 shares during the period. Kestra Advisory Services LLC boosted its holdings in shares of American International Group by 69.8% in the third quarter. Kestra Advisory Services LLC now owns 31,733 shares of the insurance provider’s stock worth $1,923,000 after buying an additional 13,050 shares during the period. Prudential PLC boosted its holdings in shares of American International Group by 40.9% in the third quarter. Prudential PLC now owns 91,703 shares of the insurance provider’s stock worth $5,557,000 after buying an additional 26,604 shares during the period. QRG Capital Management Inc. acquired a new position in shares of American International Group in the third quarter worth about $14,006,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in shares of American International Group in the third quarter worth about $1,760,000. Institutional investors own 90.60% of the company’s stock.

Insiders Place Their Bets

In other American International Group news, major shareholder International Group American sold 30,000,000 shares of American International Group stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $29.20, for a total transaction of $876,000,000.00. Following the sale, the insider now owns 294,203,636 shares in the company, valued at $8,590,746,171.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.61% of the company’s stock.

American International Group Trading Up 0.7 %

NYSE:AIG opened at $73.96 on Tuesday. The company’s 50 day moving average is $76.61 and its 200-day moving average is $72.75. The firm has a market cap of $49.08 billion, a price-to-earnings ratio of 11.04, a P/E/G ratio of 2.02 and a beta of 1.08. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05. American International Group, Inc. has a 12 month low of $54.84 and a 12 month high of $80.83.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.11. The business had revenue of $12.58 billion for the quarter, compared to the consensus estimate of $12.04 billion. American International Group had a net margin of 9.98% and a return on equity of 10.54%. During the same quarter last year, the company posted $1.63 earnings per share. Equities analysts anticipate that American International Group, Inc. will post 7.02 EPS for the current year.

American International Group announced that its Board of Directors has approved a stock buyback plan on Wednesday, May 1st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to buy up to 19.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a yield of 2.16%. This is an increase from American International Group’s previous quarterly dividend of $0.36. American International Group’s payout ratio is currently 23.88%.

Analyst Upgrades and Downgrades

Several research analysts have commented on AIG shares. UBS Group raised their target price on shares of American International Group from $83.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. HSBC cut shares of American International Group from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a report on Wednesday, May 15th. BMO Capital Markets raised their price target on shares of American International Group from $88.00 to $89.00 and gave the stock an “outperform” rating in a report on Monday, May 13th. Bank of America raised their price target on shares of American International Group from $82.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, June 11th. Finally, Keefe, Bruyette & Woods raised their price target on shares of American International Group from $82.00 to $86.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $81.50.

American International Group Company 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.