FORA Capital LLC Takes $501,000 Position in American International Group, Inc. (NYSE:AIG)

FORA Capital LLC acquired a new position in American International Group, Inc. (NYSE:AIG) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,835 shares of the insurance provider’s stock, valued at approximately $501,000.

Other institutional investors have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc purchased a new stake in shares of American International Group in the third quarter worth approximately $26,000. Y.D. More Investments Ltd purchased a new stake in American International Group in the 2nd quarter worth approximately $27,000. Fortitude Family Office LLC boosted its stake in shares of American International Group by 199.2% during the 2nd 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 grew its holdings in shares of American International Group by 326.0% during the 2nd 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 position in shares of American International Group during the 3rd quarter valued at $46,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AIG has been the subject of a number of research reports. Barclays assumed coverage on American International Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price objective for the company. UBS Group raised their target price on American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Evercore ISI reduced their price objective on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating for the company in a research note on Wednesday, October 9th. Bank of America raised their price target on American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, 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. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.80.

American International Group Price Performance

Shares of AIG opened at $77.14 on Friday. The company has a 50 day moving average of $75.75 and a 200-day moving average of $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. The stock has a market capitalization of $48.12 billion, a P/E ratio of -22.76, a P/E/G ratio of 7.53 and a beta of 1.05. American International Group, Inc. has a twelve month low of $64.54 and a twelve month high of $80.83.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.13. The firm had revenue of $6.75 billion for the quarter, compared to analyst estimates 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 in the previous year, the business earned $1.61 EPS. As a group, equities research analysts forecast that American International Group, Inc. will post 5.12 EPS for the current fiscal year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders 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 dividend on an annualized basis and a yield of 2.07%. American International Group’s dividend payout ratio is -47.20%.

Insiders Place Their Bets

In other news, major shareholder International Group American sold 5,000,000 shares of the business’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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.61% of the company’s stock.

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.