HighTower Advisors LLC Purchases 29,311 Shares of American International Group, Inc. $AIG

HighTower Advisors LLC increased its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 31.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,910 shares of the insurance provider's stock after buying an additional 29,311 shares during the period. HighTower Advisors LLC's holdings in American International Group were worth $10,686,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Ameriflex Group Inc. bought a new stake in shares of American International Group during the fourth quarter worth approximately $29,000. Sachetta LLC boosted its holdings in American International Group by 194.5% during the first quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock worth $33,000 after purchasing an additional 249 shares during the last quarter. Hemington Wealth Management boosted its holdings in American International Group by 42.8% during the first quarter. Hemington Wealth Management now owns 474 shares of the insurance provider's stock worth $41,000 after purchasing an additional 142 shares during the last quarter. NBC Securities Inc. acquired a new position in American International Group during the first quarter worth $47,000. Finally, SouthState Corp boosted its holdings in American International Group by 798.5% during the first quarter. SouthState Corp now owns 584 shares of the insurance provider's stock worth $51,000 after purchasing an additional 519 shares during the last quarter. 90.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on AIG. Cantor Fitzgerald upgraded shares of American International Group to a "hold" rating in a report on Tuesday, August 12th. Keefe, Bruyette & Woods cut their price target on shares of 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. Cfra Research upgraded shares of American International Group to a "moderate buy" rating in a research note on Monday, August 11th. Wells Fargo & Company increased their price target on shares of American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Finally, William Blair upgraded shares of American International Group to a "strong-buy" rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, American International Group currently has an average rating of "Moderate Buy" and a consensus price target of $88.27.

American International Group Price Performance

Shares of AIG traded down $0.1420 during trading hours on Thursday, reaching $82.3880. The stock had a trading volume of 1,977,839 shares, compared to its average volume of 4,522,680. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63. American International Group, Inc. has a 12 month low of $69.24 and a 12 month high of $88.07. The stock has a market capitalization of $45.64 billion, a PE ratio of 15.61, a PEG ratio of 0.87 and a beta of 0.63. The company's 50-day moving average is $81.61 and its two-hundred day moving average is $81.45.

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

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 16th. American International Group's payout ratio is currently 34.09%.

About American International Group

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.