Scientech Research LLC Acquires New Holdings in American International Group, Inc. (NYSE:AIG)

Scientech Research LLC bought a new position in shares of American International Group, Inc. (NYSE:AIG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,775 shares of the insurance provider’s stock, valued at approximately $503,000.

Several other institutional investors and hedge funds have also bought and sold shares of AIG. Fortitude Family Office LLC increased its holdings in shares of American International Group by 199.2% in the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 239 shares during the period. Y.D. More Investments Ltd bought a new position in American International Group in the 2nd quarter worth about $27,000. Rise Advisors LLC purchased a new stake in shares of American International Group in the 1st quarter valued at about $29,000. Valued Wealth Advisors LLC boosted its position in shares of American International Group by 303.3% during the 1st quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 276 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of American International Group by 326.0% during the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 339 shares in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Trading Up 0.3 %

Shares of AIG opened at $73.34 on Monday. The stock has a market capitalization of $48.67 billion, a P/E ratio of 10.95, a PEG ratio of 3.70 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 $74.15 and a two-hundred day simple moving average of $75.63.

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). American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The firm had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the prior year, the company posted $1.75 earnings per share. The business’s revenue for the quarter was up .0% on a year-over-year basis. 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 announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.18%. American International Group’s dividend payout ratio (DPR) is presently 23.88%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AIG. Piper Sandler lowered their target price on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $87.00 target price on shares of American International Group in a research report on Tuesday, July 9th. 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. Keefe, Bruyette & Woods cut their price objective on American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Finally, Citigroup reduced their price objective on American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, American International Group presently has a consensus rating of “Hold” and an average target price of $83.88.

Insider Activity

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

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.