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

New Century Financial Group LLC bought a new position in American International Group, Inc. (NYSE:AIG) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 3,013 shares of the insurance provider’s stock, valued at approximately $224,000.

Several other institutional investors have also recently made changes to their positions in the company. Fortitude Family Office LLC lifted its position in American International Group by 199.2% during the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 239 shares during the last quarter. Y.D. More Investments Ltd bought a new stake in shares of American International Group during the 2nd quarter worth $27,000. Rise Advisors LLC bought a new position in American International Group in the first quarter valued at $29,000. Valued Wealth Advisors LLC increased its stake in American International Group by 303.3% in the first 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 raised its position in American International Group by 326.0% during the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 339 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

Insider Activity

In related news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the sale, the insider now directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.61% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on AIG shares. 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. Bank of America lifted their target price on shares of American International Group from $81.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Piper Sandler cut their price target on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Keefe, Bruyette & Woods decreased their price objective on American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $87.00 target price on shares of American International Group in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, American International Group currently has a consensus rating of “Hold” and a consensus target price of $83.88.

American International Group Stock Performance

Shares of AIG stock opened at $72.45 on Thursday. The firm has a market capitalization of $48.08 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 3.70 and a beta of 1.06. The stock has a fifty day moving average of $73.96 and a 200 day moving average of $75.57. American International Group, Inc. has a 52 week low of $57.72 and a 52 week 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.

American International Group (NYSE:AIG) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing the consensus estimate 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 company had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the prior year, the business posted $1.75 earnings per share. The company’s revenue for the quarter was up .0% on a year-over-year basis. As a group, research analysts expect that American International Group, Inc. will post 5.24 earnings per share for the current year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Monday, September 16th. American International Group’s dividend payout ratio is currently 23.88%.

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.