Centric Wealth Management Has $2.60 Million Stock Holdings in American International Group, Inc. (NYSE:AIG)

Centric Wealth Management raised its position in American International Group, Inc. (NYSE:AIG) by 2.4% during the third quarter, Holdings Channel reports. The institutional investor owned 33,692 shares of the insurance provider’s stock after buying 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 quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Christopher J. Hasenberg Inc acquired a new stake in 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 during the second quarter worth approximately $27,000. Fortitude Family Office LLC lifted its holdings in American International Group by 199.2% in 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 boosted its stake in American International Group by 326.0% in 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 during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of American International Group during the 3rd quarter valued at $46,000. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Price Performance

Shares of NYSE AIG opened at $77.14 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65. The business has a 50-day moving average of $75.75 and a 200-day moving average of $75.53. The stock has a market capitalization of $48.12 billion, a price-to-earnings ratio of -22.76, a PEG ratio of 7.53 and a beta of 1.05. American International Group, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $80.83.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. The firm had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same period last year, the company earned $1.61 earnings per share. As a group, sell-side analysts predict that American International Group, Inc. will post 5.12 earnings per share for the current fiscal year.

American International Group Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AIG shares. Evercore ISI reduced 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. BMO Capital Markets lowered American International Group from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $90.00 to $84.00 in a research report on Tuesday, October 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $87.00 price target on shares of American International Group in a research note on Wednesday, November 6th. Jefferies Financial Group lifted their price objective 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. Finally, StockNews.com raised shares of American International Group from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $84.80.

Insider Buying and Selling at American International Group

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the sale, the insider now owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This trade represents a 1.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate 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.