Avitas Wealth Management LLC bought a new position in shares of American International Group Inc (NYSE:AIG) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 47,006 shares of the insurance provider’s stock, valued at approximately $2,618,000.
Other institutional investors also recently bought and sold shares of the company. Pathstone Family Office LLC bought a new position in shares of American International Group during the 2nd quarter worth approximately $28,000. Cerebellum GP LLC lifted its position in shares of American International Group by 145.2% during the 3rd quarter. Cerebellum GP LLC now owns 591 shares of the insurance provider’s stock worth $35,000 after buying an additional 350 shares during the period. North Star Investment Management Corp. bought a new position in shares of American International Group during the 3rd quarter worth approximately $39,000. Clean Yield Group bought a new position in shares of American International Group during the 2nd quarter worth approximately $40,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of American International Group during the 2nd quarter worth approximately $46,000. Institutional investors and hedge funds own 91.01% of the company’s stock.
Shares of AIG opened at $53.97 on Monday. The stock has a fifty day moving average price of $55.03 and a two-hundred day moving average price of $52.67. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.28 and a current ratio of 0.28. American International Group Inc has a 52-week low of $36.16 and a 52-week high of $58.66. The company has a market cap of $47.03 billion, a price-to-earnings ratio of 46.13, a PEG ratio of 1.07 and a beta of 1.19.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 17th were given a $0.32 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.28 annualized dividend and a yield of 2.37%. American International Group’s payout ratio is 109.40%.
In other American International Group news, CEO Seraina Macia sold 7,550 shares of American International Group stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $56.00, for a total value of $422,800.00. Following the completion of the transaction, the chief executive officer now owns 11,055 shares in the company, valued at approximately $619,080. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.10% of the company’s stock.
Several equities analysts recently commented on AIG shares. Morgan Stanley restated a “buy” rating and set a $63.00 target price on shares of American International Group in a research report on Monday, August 12th. Royal Bank of Canada raised their target price on American International Group to $68.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. William Blair upgraded American International Group from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 18th. Evercore ISI began coverage on American International Group in a research report on Thursday. They issued an “in-line” rating and a $54.00 price objective for the company. Finally, Barclays lifted their price objective on American International Group from $65.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $57.80.
About American International Group
American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, crop, and marine insurance.
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