Connecticut Wealth Management LLC Acquires 124,846 Shares of American International Group, Inc. (NYSE:AIG)

Connecticut Wealth Management LLC increased its holdings in American International Group, Inc. (NYSE:AIG) by 214.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 183,094 shares of the insurance provider’s stock after buying an additional 124,846 shares during the period. American International Group accounts for 0.7% of Connecticut Wealth Management LLC’s investment portfolio, making the stock its 27th biggest position. Connecticut Wealth Management LLC’s holdings in American International Group were worth $13,593,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. TCW Group Inc. bought a new stake in American International Group during the 4th quarter worth approximately $724,000. Cetera Investment Advisers boosted its stake in American International Group by 348.6% during the first quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock valued at $4,506,000 after buying an additional 44,797 shares during the period. Vinva Investment Management Ltd purchased a new position in American International Group during the fourth quarter worth about $1,699,000. OFI Invest Asset Management grew its position in American International Group by 2,208.3% during the second quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock worth $710,000 after buying an additional 9,805 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in American International Group by 64.3% in the 1st quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider’s stock worth $2,227,000 after acquiring an additional 11,149 shares during the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 1,932,609 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the completion of the transaction, the insider now owns 292,271,027 shares in the company, valued at $8,534,313,988.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 14,964,738 shares of company stock worth $400,732,195. 0.61% of the stock is currently owned by insiders.

Analyst Ratings Changes

AIG has been the subject of several recent analyst reports. Bank of America boosted their price objective on American International Group from $81.00 to $82.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. StockNews.com cut shares of American International Group from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. Barclays assumed coverage on shares of American International Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price objective on the stock. Morgan Stanley lowered their price target on American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, Citigroup cut their price objective on American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $83.88.

American International Group Trading Down 0.2 %

Shares of AIG opened at $73.76 on Friday. The stock has a market capitalization of $48.95 billion, a P/E ratio of 11.01, a PEG ratio of 3.60 and a beta of 1.06. American International Group, Inc. has a twelve month low of $57.72 and a twelve month high of $80.83. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22. The firm has a fifty day simple moving average of $74.55 and a two-hundred day simple moving average of $75.67.

American International Group (NYSE:AIG) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). The firm had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.75 earnings per share. On average, research analysts anticipate that American International Group, Inc. will post 5.24 EPS for the current year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.17%. The ex-dividend date is Monday, September 16th. American International Group’s dividend payout ratio (DPR) is currently 23.88%.

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.