Arista Wealth Management LLC Makes New Investment in American International Group, Inc. $AIG

Key Points

• Arista Wealth Management LLC has acquired a new position in American International Group, purchasing 7,532 shares valued at approximately $645,000 in Q2.
• Several hedge funds have significantly increased their stakes in AIG, with GQG Partners raising its stake by 33,315.0% in the first quarter.
• Analysts have set a consensus price target of $89.81 for AIG, with Goldman Sachs raising its price objective to $86.00 and giving the stock a "neutral" rating.

Arista Wealth Management LLC purchased a new position in American International Group, Inc. (NYSE:AIG - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,532 shares of the insurance provider's stock, valued at approximately $645,000.

A number of other hedge funds also recently bought and sold shares of AIG. GQG Partners LLC raised its stake in American International Group by 33,315.0% during the first quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider's stock valued at $1,643,995,000 after purchasing an additional 18,852,949 shares in the last quarter. Nuveen LLC purchased a new position in American International Group in the 1st quarter worth about $440,273,000. AQR Capital Management LLC increased its stake in American International Group by 184.4% in the 1st quarter. AQR Capital Management LLC now owns 3,335,040 shares of the insurance provider's stock worth $287,214,000 after buying an additional 2,162,545 shares during the period. Raymond James Financial Inc. raised its holdings in shares of American International Group by 151.6% in the 1st quarter. Raymond James Financial Inc. now owns 3,285,963 shares of the insurance provider's stock valued at $285,682,000 after purchasing an additional 1,980,001 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in American International Group by 20.4% during the first quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider's stock worth $974,840,000 after buying an additional 1,901,998 shares during the period. Hedge funds and other institutional investors own 90.60% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. The Goldman Sachs Group boosted their price objective on shares of American International Group from $85.00 to $86.00 and gave the stock a "neutral" rating in a research note on Monday, October 6th. Cantor Fitzgerald upgraded American International Group to a "hold" rating in a report on Tuesday, August 12th. Morgan Stanley dropped their target price on American International Group from $85.00 to $84.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 7th. William Blair upgraded American International Group to a "strong-buy" rating in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. raised their price target on American International Group from $95.00 to $97.00 and gave the stock a "neutral" rating in a report on Thursday, October 9th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, American International Group has an average rating of "Moderate Buy" and a consensus price target of $89.81.

American International Group Price Performance

American International Group stock opened at $77.00 on Friday. The company's fifty day moving average price is $80.02 and its 200 day moving average price is $81.57. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a market capitalization of $42.66 billion, a P/E ratio of 14.58, a P/E/G ratio of 0.80 and a beta of 0.68. American International Group, Inc. has a 1 year low of $69.24 and a 1 year high of $88.07.

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

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. American International Group's payout ratio is currently 34.09%.

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.

Want to see what other hedge funds are holding AIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American International Group, Inc. (NYSE:AIG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.