True Wealth Design LLC Purchases New Stake in American International Group, Inc. (NYSE:AIG)

True Wealth Design LLC purchased a new position in American International Group, Inc. (NYSE:AIG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 401 shares of the insurance provider’s stock, valued at approximately $29,000.

A number of other hedge funds have also recently modified their holdings of AIG. Christopher J. Hasenberg Inc bought a new stake in shares of American International Group in the third quarter worth about $26,000. Y.D. More Investments Ltd bought a new stake in shares of American International Group in the 2nd quarter worth approximately $27,000. Fortitude Family Office LLC increased its stake in shares of 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 buying an additional 239 shares during the period. Versant Capital Management Inc raised its holdings in shares of 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 acquiring an additional 339 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in American International Group in the third quarter worth $46,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insider Activity

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

American International Group Stock Performance

Shares of American International Group stock opened at $76.88 on Monday. American International Group, Inc. has a 1 year low of $64.81 and a 1 year high of $80.83. The firm’s 50-day moving average is $75.82 and its 200 day moving average is $75.46. The stock has a market cap of $47.96 billion, a price-to-earnings ratio of -22.68, a PEG ratio of 7.62 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 issued its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.13. The firm had revenue of $6.75 billion for 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 quarter in the prior year, the firm posted $1.61 earnings per share. Sell-side analysts anticipate that American International Group, Inc. will post 5.12 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 paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s dividend payout ratio is currently -47.20%.

Analyst Upgrades and Downgrades

Several research analysts have commented on AIG shares. Keefe, Bruyette & Woods decreased their price objective on shares of American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Jefferies Financial Group increased their price target on shares of American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. BMO Capital Markets cut American International Group from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $90.00 to $84.00 in a research report on Tuesday, October 15th. Barclays assumed coverage on American International Group in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 target price for the company. Finally, JPMorgan Chase & Co. upgraded American International Group from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $93.00 to $89.00 in a research report on Thursday, October 10th. Eight investment analysts have rated the stock with a hold rating and eight have assigned 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 target price 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.