CTC Alternative Strategies Ltd. Makes New Investment in American International Group, Inc. $AIG

Key Points

• CTC Alternative Strategies Ltd. acquired 4,800 shares of American International Group, Inc. (AIG) worth around $417,000 during the first quarter, contributing to institutional investors holding 90.60% of the company's stock.
• AIG reported a quarterly earnings per share of $1.81, surpassing the consensus estimate of $1.60, while experiencing a year-over-year improvement from $1.16 earnings per share.
• The company announced a quarterly dividend of $0.45 per share, representing an annualized dividend of $1.80 and a yield of 2.3%, with the payment scheduled for September 30th.

CTC Alternative Strategies Ltd. acquired a new stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,800 shares of the insurance provider's stock, valued at approximately $417,000.

A number of other institutional investors have also modified their holdings of AIG. AIA Group Ltd lifted its holdings in American International Group by 169.6% in the first quarter. AIA Group Ltd now owns 10,368 shares of the insurance provider's stock valued at $901,000 after acquiring an additional 6,523 shares during the period. Townsquare Capital LLC increased its holdings in American International Group by 5.4% in the first quarter. Townsquare Capital LLC now owns 115,129 shares of the insurance provider's stock valued at $10,009,000 after buying an additional 5,899 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in American International Group by 175.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 181,810 shares of the insurance provider's stock valued at $15,807,000 after buying an additional 115,706 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in American International Group by 2.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,625 shares of the insurance provider's stock valued at $1,445,000 after buying an additional 355 shares in the last quarter. Finally, IFP Advisors Inc increased its stake in shares of American International Group by 34.9% in the 1st quarter. IFP Advisors Inc now owns 2,882 shares of the insurance provider's stock valued at $251,000 after purchasing an additional 745 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company's stock.

Analyst Ratings Changes

AIG has been the subject of several recent analyst reports. Keefe, Bruyette & Woods cut their price target on American International Group from $97.00 to $91.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. Wall Street Zen lowered shares of American International Group from a "buy" rating to a "hold" rating in a report on Sunday, September 7th. Morgan Stanley boosted their target price on shares of American International Group from $81.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Citigroup initiated coverage on shares of American International Group in a research note on Wednesday, August 13th. They set a "neutral" rating and a $85.00 target price for the company. Finally, Cantor Fitzgerald upgraded American International Group to a "hold" rating in a research note on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $88.27.

American International Group Trading Up 0.2%

NYSE:AIG traded up $0.18 during trading hours on Friday, hitting $78.90. The company had a trading volume of 3,737,122 shares, compared to its average volume of 4,484,740. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 1 year low of $69.24 and a 1 year high of $88.07. The company has a 50-day moving average of $80.41 and a 200 day moving average of $82.09. The company has a market cap of $43.71 billion, a P/E ratio of 14.94, a P/E/G ratio of 0.83 and a beta of 0.70.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.21. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The business had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.81 billion. During the same quarter in the prior year, the company posted $1.16 EPS. Sell-side analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, September 16th. American International Group's dividend payout ratio is presently 34.09%.

American International Group 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.