American International Group, Inc. (NYSE:AIG) Shares Acquired by Centric Wealth Management

Centric Wealth Management boosted its stake in shares of American International Group, Inc. (NYSE:AIG) by 2.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,692 shares of the insurance provider’s stock after purchasing an additional 790 shares during the quarter. Centric Wealth Management’s holdings in American International Group were worth $2,595,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AIG. Jacobs Levy Equity Management Inc. increased its stake in shares of American International Group by 7.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 29,286 shares of the insurance provider’s stock valued at $2,289,000 after purchasing an additional 1,982 shares during the period. B. Riley Wealth Advisors Inc. grew its stake in shares of American International Group by 14.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 13,133 shares of the insurance provider’s stock worth $1,027,000 after purchasing an additional 1,675 shares in the last quarter. iA Global Asset Management Inc. increased its holdings in shares of American International Group by 4.1% during the first quarter. iA Global Asset Management Inc. now owns 11,093 shares of the insurance provider’s stock valued at $867,000 after purchasing an additional 435 shares during the period. Atria Investments Inc raised its stake in shares of American International Group by 4.1% during the first quarter. Atria Investments Inc now owns 45,731 shares of the insurance provider’s stock valued at $3,574,000 after purchasing an additional 1,788 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in American International Group by 348.6% in the first quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock worth $4,506,000 after purchasing an additional 44,797 shares during the period. 90.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the business’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 transaction, the insider now owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. The trade was a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

American International Group Trading Up 1.1 %

Shares of AIG opened at $77.14 on Friday. The stock’s 50-day moving average price is $75.75 and its 200 day moving average price is $75.53. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 12-month low of $64.54 and a 12-month high of $80.83. The firm has a market capitalization of $48.12 billion, a price-to-earnings ratio of -22.76, a P/E/G ratio of 7.53 and a beta of 1.05.

American International Group (NYSE:AIG) last released its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. The company had revenue of $6.75 billion during the quarter, compared to the consensus estimate 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 firm earned $1.61 EPS. As a group, research analysts predict that American International Group, Inc. will post 5.12 earnings per share for the current year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be paid a $0.40 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. American International Group’s dividend payout ratio is presently -47.20%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Evercore ISI lowered their price target on American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 9th. UBS Group upped their price target on shares of American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Barclays initiated coverage on shares of American International Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 price objective on the stock. Piper Sandler cut their target price on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Bank of America lifted their price target on shares of American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, American International Group currently has an average rating of “Moderate Buy” and an average price target of $84.80.

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.