Premier Path Wealth Partners LLC Grows Holdings in American International Group, Inc. (NYSE:AIG)

Premier Path Wealth Partners LLC increased its position in shares of American International Group, Inc. (NYSE:AIG) by 3.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,609 shares of the insurance provider’s stock after purchasing an additional 194 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in American International Group were worth $491,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AIG. Norges Bank purchased a new position in American International Group in the fourth quarter valued at about $746,005,000. Swedbank AB purchased a new position in American International Group in the first quarter valued at about $99,951,000. Canada Pension Plan Investment Board boosted its stake in American International Group by 98.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,893,990 shares of the insurance provider’s stock valued at $148,053,000 after acquiring an additional 941,607 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in shares of American International Group by 95.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,221,724 shares of the insurance provider’s stock valued at $82,772,000 after buying an additional 597,661 shares in the last quarter. Finally, Third Point LLC lifted its stake in shares of American International Group by 16.9% during the 4th quarter. Third Point LLC now owns 3,450,000 shares of the insurance provider’s stock valued at $233,738,000 after buying an additional 500,000 shares in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at American International Group

In other American International Group news, major shareholder International Group American sold 30,000,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $29.20, for a total transaction of $876,000,000.00. Following the transaction, the insider now owns 294,203,636 shares in the company, valued at approximately $8,590,746,171.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 39,964,738 shares of company stock valued at $1,132,432,195 over the last ninety days. Insiders own 0.61% of the company’s stock.

American International Group Stock Up 0.7 %

Shares of NYSE:AIG traded up $0.56 on Friday, hitting $75.32. 2,387,656 shares of the company traded hands, compared to its average volume of 4,176,896. The company has a market cap of $49.99 billion, a PE ratio of 11.24, a PEG ratio of 2.48 and a beta of 1.07. The stock has a 50 day simple moving average of $74.88 and a 200-day simple moving average of $75.15. American International Group, Inc. has a 52 week low of $57.39 and a 52 week high of $80.83. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05.

American International Group (NYSE:AIG) last issued its 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). The firm had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $11.64 billion. American International Group had a positive return on equity of 9.37% and a negative net margin of 1.54%. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the firm posted $1.75 earnings per share. As a group, research analysts expect that American International Group, Inc. will post 6.4 earnings per share for the current year.

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

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders 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 dividend yield of 2.12%. The ex-dividend date of this dividend is Monday, September 16th. American International Group’s payout ratio is currently 23.88%.

Analyst Upgrades and Downgrades

AIG has been the topic of a number of recent research reports. Evercore ISI dropped their price target on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday, June 27th. StockNews.com lowered shares of American International Group from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Royal Bank of Canada restated an “outperform” rating and set a $87.00 price target on shares of American International Group in a research report on Tuesday, July 9th. HSBC lowered shares of American International Group from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a research report on Wednesday, May 15th. Finally, Piper Sandler cut their price objective on American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, American International Group currently has an average rating of “Hold” and an average price target of $83.47.

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.