Hamilton Wealth LLC Acquires New Shares in American International Group, Inc. (NYSE:AIG)

Hamilton Wealth LLC bought a new position in shares of American International Group, Inc. (NYSE:AIG) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 4,680 shares of the insurance provider’s stock, valued at approximately $366,000.

Several other large investors also recently modified their holdings of AIG. Norges Bank acquired a new position in shares of American International Group in the 4th quarter valued at approximately $746,005,000. Swedbank AB bought a new position in American International Group in the first quarter valued at approximately $99,951,000. Canada Pension Plan Investment Board increased its position in shares of American International Group by 98.9% during the first quarter. Canada Pension Plan Investment Board now owns 1,893,990 shares of the insurance provider’s stock worth $148,053,000 after acquiring an additional 941,607 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of American International Group by 95.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,221,724 shares of the insurance provider’s stock worth $82,772,000 after acquiring an additional 597,661 shares during the period. Finally, Third Point LLC lifted its position in American International Group by 16.9% in the 4th quarter. Third Point LLC now owns 3,450,000 shares of the insurance provider’s stock valued at $233,738,000 after acquiring an additional 500,000 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AIG. Bank of America raised their target price on shares of American International Group from $81.00 to $82.00 and gave the company a “neutral” rating in a research report on Thursday. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $87.00 target price on shares of American International Group in a research note on Thursday, June 27th. BMO Capital Markets upped their price objective on shares of American International Group from $88.00 to $89.00 and gave the company an “outperform” rating in a report on Monday, May 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $87.00 price target on shares of American International Group in a research note on Tuesday, July 9th. Finally, Wells Fargo & Company raised their price objective on shares of American International Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, American International Group has a consensus rating of “Hold” and an average target price of $82.38.

American International Group Stock Performance

AIG traded down $2.94 during midday trading on Friday, reaching $71.97. The company had a trading volume of 7,453,145 shares, compared to its average volume of 4,655,245. American International Group, Inc. has a 12-month low of $57.02 and a 12-month high of $80.83. The business has a 50-day moving average price of $75.93 and a two-hundred day moving average price of $74.73. The stock has a market cap of $47.76 billion, a PE ratio of 10.74, a P/E/G ratio of 2.48 and a beta of 1.07. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.29 and a current ratio of 0.29.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.14). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.37%. The firm had revenue of $1.00 million for the quarter, compared to the consensus estimate of $11.64 billion. During the same period last year, the company posted $1.75 earnings per share. American International Group’s revenue for the quarter was up .0% on a year-over-year basis. On average, sell-side analysts expect that American International Group, Inc. will post 6.4 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Monday, September 16th. American International Group’s payout ratio is currently 23.88%.

American International Group declared that its Board of Directors has initiated a stock repurchase program on Wednesday, May 1st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the insurance provider to purchase up to 19.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, major shareholder International Group American sold 1,932,609 shares of American International Group stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total value of $56,432,182.80. Following the completion of the transaction, the insider now directly owns 292,271,027 shares in the company, valued at $8,534,313,988.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, major shareholder International Group American sold 1,932,609 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 292,271,027 shares in the company, valued at $8,534,313,988.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director W Don Cornwell 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The disclosure for this trade can be found here. 0.61% of the stock is owned by insiders.

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.