Crewe Advisors LLC Takes Position in American International Group, Inc. (NYSE:AIG)

Crewe Advisors LLC acquired a new stake in shares of American International Group, Inc. (NYSE:AIG) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 929 shares of the insurance provider’s stock, valued at approximately $73,000.

A number of other large investors have also made changes to their positions in AIG. Mutual Advisors LLC acquired a new position in American International Group in the fourth quarter worth about $224,000. HB Wealth Management LLC raised its position in American International Group by 14.6% in the fourth quarter. HB Wealth Management LLC now owns 11,463 shares of the insurance provider’s stock worth $777,000 after purchasing an additional 1,458 shares in the last quarter. Raymond James & Associates grew its stake in American International Group by 2.9% during the fourth quarter. Raymond James & Associates now owns 1,243,037 shares of the insurance provider’s stock worth $84,216,000 after buying an additional 34,543 shares during the last quarter. CVA Family Office LLC bought a new stake in American International Group during the fourth quarter worth about $171,000. Finally, Highland Capital Management LLC grew its stake in shares of American International Group by 0.7% during the fourth quarter. Highland Capital Management LLC now owns 82,550 shares of the insurance provider’s stock valued at $5,593,000 after purchasing an additional 590 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Price Performance

Shares of NYSE:AIG traded up $1.49 during midday trading on Friday, hitting $76.74. The stock had a trading volume of 617,308 shares, compared to its average volume of 4,135,036. American International Group, Inc. has a fifty-two week low of $57.02 and a fifty-two 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. The company has a market capitalization of $50.93 billion, a P/E ratio of 11.23, a price-to-earnings-growth ratio of 2.47 and a beta of 1.08. The company’s 50-day moving average price is $76.18 and its 200-day moving average price is $74.36.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.11. American International Group had a net margin of 9.98% and a return on equity of 10.54%. The company had revenue of $12.58 billion for the quarter, compared to analyst estimates of $12.04 billion. During the same period in the prior year, the firm posted $1.63 EPS. As a group, equities research analysts predict that American International Group, Inc. will post 6.45 EPS for the current fiscal year.

American International Group declared that its board has authorized a share repurchase plan on Wednesday, May 1st that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the insurance provider to purchase up to 19.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

American International Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.40 dividend. This is a positive change from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Friday, June 14th. American International Group’s dividend payout ratio is currently 23.88%.

Insider Activity

In related news, major shareholder International Group American sold 30,000,000 shares of the business’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $87.00 price target on shares of American International Group in a research note on Thursday, June 27th. JPMorgan Chase & Co. raised their price objective on shares of American International Group from $80.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Piper Sandler raised their price objective on shares of American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Royal Bank of Canada restated an “outperform” rating and set a $87.00 price objective on shares of American International Group in a report on Tuesday, July 9th. Finally, Morgan Stanley decreased their target price on shares of 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. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, American International Group presently has an average rating of “Hold” and an average target price of $82.50.

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.