Congress Wealth Management LLC DE Acquires 1,502 Shares of American International Group, Inc. (NYSE:AIG)

Congress Wealth Management LLC DE boosted its holdings in shares of American International Group, Inc. (NYSE:AIG) by 11.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,261 shares of the insurance provider’s stock after acquiring an additional 1,502 shares during the quarter. Congress Wealth Management LLC DE’s holdings in American International Group were worth $1,038,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of AIG. Wellington Management Group LLP grew its holdings in shares of American International Group by 32.4% in the third quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock worth $1,831,727,000 after purchasing an additional 6,119,996 shares during the last quarter. Prana Capital Management LP grew its stake in American International Group by 280.5% in the 3rd quarter. Prana Capital Management LP now owns 1,888,072 shares of the insurance provider’s stock worth $138,264,000 after acquiring an additional 1,391,859 shares in the last quarter. Raymond James Financial Inc. bought a new position in American International Group in the 4th quarter worth about $95,074,000. Swedbank AB increased its position in shares of American International Group by 70.6% during the fourth quarter. Swedbank AB now owns 2,127,688 shares of the insurance provider’s stock worth $154,896,000 after acquiring an additional 880,625 shares during the period. Finally, Proficio Capital Partners LLC boosted its holdings in shares of American International Group by 9,790.9% in the fourth quarter. Proficio Capital Partners LLC now owns 690,185 shares of the insurance provider’s stock valued at $50,245,000 after purchasing an additional 683,207 shares during the period. Institutional investors own 90.60% of the company’s stock.

American International Group Trading Up 0.5 %

Shares of NYSE:AIG opened at $84.60 on Friday. The business’s 50-day moving average is $78.36 and its 200 day moving average is $75.83. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67. American International Group, Inc. has a 1 year low of $69.00 and a 1 year high of $85.11. The firm has a market capitalization of $50.19 billion, a P/E ratio of -40.67, a P/E/G ratio of 1.01 and a beta of 0.98.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. On average, research analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.40 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.89%. American International Group’s dividend payout ratio is currently -76.92%.

Insider Transactions at American International Group

In other news, Director John G. Rice bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average price of $77.00 per share, with a total value of $770,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $770,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on AIG. HSBC upgraded American International Group from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a report on Wednesday, March 5th. Hsbc Global Res upgraded American International Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Keefe, Bruyette & Woods raised their target price on shares of American International Group from $87.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, February 14th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $79.00 price target (down previously from $83.00) on shares of American International Group in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $84.31.

American International Group 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.