Empowered Funds LLC Acquires 958 Shares of American International Group, Inc. (NYSE:AIG)

Empowered Funds LLC boosted its holdings in shares of American International Group, Inc. (NYSE:AIG) by 8.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,928 shares of the insurance provider’s stock after buying an additional 958 shares during the quarter. Empowered Funds LLC’s holdings in American International Group were worth $873,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AIG. Christopher J. Hasenberg Inc bought a new stake in shares of American International Group during the 3rd quarter valued at $26,000. Fortitude Family Office LLC grew its holdings 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 period. Y.D. More Investments Ltd purchased a new stake in American International Group in the second quarter worth about $27,000. Versant Capital Management Inc raised its stake in shares of American International Group by 326.0% in the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after buying an additional 339 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new position in shares of American International Group during the 3rd quarter valued at about $46,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Trading Up 0.1 %

Shares of NYSE AIG opened at $76.06 on Friday. American International Group, Inc. has a 1-year low of $64.54 and a 1-year high of $80.83. The business has a fifty day moving average price of $75.50 and a 200 day moving average price of $75.62. The stock has a market capitalization of $47.44 billion, a P/E ratio of -22.44, a price-to-earnings-growth ratio of 7.45 and a beta of 1.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65.

American International Group (NYSE:AIG) last released its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. The business had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. During the same period last year, the business earned $1.61 EPS. Equities research analysts expect that American International Group, Inc. will post 5.13 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Monday, December 16th. American International Group’s payout ratio is presently -47.20%.

Insider Activity

In other news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the transaction, the insider now owns 279,238,898 shares in the company, valued at $8,058,834,596.28. This represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

AIG has been the subject of a number of research reports. TD Cowen dropped their target price on shares of American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Keefe, Bruyette & Woods cut their target price on American International Group from $88.00 to $87.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. UBS Group increased their price objective on shares of American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. upgraded American International Group from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $93.00 to $89.00 in a research report on Thursday, October 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $87.00 price objective on shares of American International Group in a research report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $84.80.

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.