Ridgewood Investments LLC Invests $101,000 in American International Group, Inc. (NYSE:AIG)

Ridgewood Investments LLC acquired a new stake in American International Group, Inc. (NYSE:AIG) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,364 shares of the insurance provider’s stock, valued at approximately $101,000.

Several other institutional investors and hedge funds have also made changes to their positions in AIG. Fortitude Family Office LLC boosted its stake in shares of American International Group by 199.2% in the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after buying an additional 239 shares during the last quarter. Rise Advisors LLC purchased a new stake in shares of American International Group during the first quarter worth approximately $29,000. Valued Wealth Advisors LLC raised its position in shares of American International Group by 303.3% in the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock valued at $29,000 after buying an additional 276 shares during the last quarter. Versant Capital Management Inc lifted its stake in American International Group by 326.0% in the 2nd quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 339 shares in the last quarter. Finally, CENTRAL TRUST Co lifted its position in American International Group by 123.8% during the first quarter. CENTRAL TRUST Co now owns 452 shares of the insurance provider’s stock worth $35,000 after buying an additional 250 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Keefe, Bruyette & Woods decreased their target price on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Morgan Stanley dropped their target price on American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Bank of America upped their price objective on American International Group from $81.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price target on shares of American International Group from $80.00 to $93.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Finally, HSBC cut American International Group from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a research report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $83.47.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 1,932,609 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total value of $56,432,182.80. Following the sale, the insider now directly owns 292,271,027 shares of the company’s stock, valued at approximately $8,534,313,988.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold 39,964,738 shares of company stock valued at $1,132,432,195 in the last quarter. 0.61% of the stock is currently owned by corporate insiders.

American International Group Stock Performance

Shares of AIG traded up $0.61 during mid-day trading on Thursday, hitting $76.13. 2,435,127 shares of the company’s stock were exchanged, compared to its average volume of 4,136,771. The business’s 50 day moving average is $74.93 and its two-hundred day moving average is $75.31. American International Group, Inc. has a fifty-two week low of $57.72 and a fifty-two week high of $80.83. The firm has a market capitalization of $50.53 billion, a P/E ratio of 11.36, a P/E/G ratio of 2.48 and a beta of 1.07. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.05.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.14). American International Group had a positive return on equity of 9.37% and a negative net margin of 1.54%. The firm had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the prior year, the company earned $1.75 earnings per share. The company’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities analysts expect that American International Group, Inc. will post 6.4 earnings per share for the current year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Monday, September 16th. American International Group’s dividend payout ratio is currently 23.88%.

American International Group announced that its board has approved a share repurchase program on Wednesday, May 1st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the insurance provider to buy up to 19.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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.