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Western Financial Corporation Takes $731,000 Position in American International Group, Inc. (NYSE:AIG)

Financial News Live · Oct 1, 2022 12:12

Western Financial Corporation bought a new stake in shares of American International Group, Inc. (NYSE:AIG – Get Rating) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 14,290 shares of the insurance provider's stock, valued at approximately $731,000.

A number of other institutional investors have also recently modified their holdings of the stock. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in American International Group by 0.3% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,292 shares of the insurance provider's stock valued at $3,345,000 after buying an additional 167 shares during the period. Tyler Stone Wealth Management lifted its stake in American International Group by 6.1% during the first quarter. Tyler Stone Wealth Management now owns 3,265 shares of the insurance provider's stock worth $205,000 after purchasing an additional 187 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in American International Group by 20.9% during the first quarter. Parkside Financial Bank & Trust now owns 1,110 shares of the insurance provider's stock worth $69,000 after purchasing an additional 192 shares during the last quarter. Goodwin Daniel L lifted its stake in American International Group by 2.4% during the first quarter. Goodwin Daniel L now owns 9,625 shares of the insurance provider's stock worth $604,000 after purchasing an additional 225 shares during the last quarter. Finally, 44 Wealth Management LLC lifted its stake in American International Group by 1.3% during the first quarter. 44 Wealth Management LLC now owns 18,497 shares of the insurance provider's stock worth $1,161,000 after purchasing an additional 229 shares during the last quarter. 90.18% of the stock is currently owned by institutional investors.

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Insider Activity at American International Group

In related news, EVP Luciana Fato sold 17,000 shares of the business's stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $54.01, for a total transaction of $918,170.00. Following the transaction, the executive vice president now owns 45,444 shares in the company, valued at approximately $2,454,430.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other American International Group news, EVP Luciana Fato sold 17,000 shares of the company's stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $54.01, for a total transaction of $918,170.00. Following the transaction, the executive vice president now owns 45,444 shares in the company, valued at approximately $2,454,430.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder International Group American sold 80,000,000 shares of the company's stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $21.00, for a total value of $1,680,000,000.00. Following the transaction, the insider now owns 501,145,000 shares in the company, valued at approximately $10,524,045,000. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

American International Group Trading Down 0.4 %

NYSE:AIG traded down $0.18 during mid-day trading on Friday, reaching $47.48. 5,209,229 shares of the company's stock traded hands, compared to its average volume of 5,215,023. American International Group, Inc. has a 12-month low of $47.05 and a 12-month high of $65.73. The firm has a market capitalization of $36.10 billion, a price-to-earnings ratio of 3.12 and a beta of 1.17. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.32 and a quick ratio of 0.32. The company has a 50 day moving average price of $52.98 and a 200-day moving average price of $55.93.

American International Group (NYSE:AIG – Get Rating) last announced its quarterly earnings results on Monday, August 8th. The insurance provider reported $1.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.23 by ($0.04). American International Group had a net margin of 22.23% and a return on equity of 7.12%. The business had revenue of $10.90 billion for the quarter, compared to analysts' expectations of $11.19 billion. During the same quarter in the prior year, the firm earned $1.52 EPS. On average, sell-side analysts predict that American International Group, Inc. will post 5.03 earnings per share for the current year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.70%. American International Group's dividend payout ratio is presently 8.40%.

Analysts Set New Price Targets

AIG has been the subject of several research analyst reports. Credit Suisse Group lifted their price target on American International Group from $50.00 to $60.00 and gave the stock a "neutral" rating in a research note on Monday, September 12th. StockNews.com lowered American International Group from a "buy" rating to a "hold" rating in a research note on Saturday, July 2nd. Finally, Barclays lowered their target price on American International Group from $63.00 to $56.00 and set an "equal weight" rating for the company in a research note on Thursday, July 14th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $65.29.

About American International Group

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American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment provides general liability, environmental, commercial automobile liability, workers' compensation, casualty, and crisis management insurance products; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, crop, and marine insurance.