Ashton Thomas Securities LLC Makes New Investment in American International Group, Inc. $AIG

Key Points

• Ashton Thomas Securities LLC invested approximately $933,000 in American International Group, purchasing 10,850 shares in the first quarter.
• Several major investors, including GQG Partners LLC and Nuveen LLC, have significantly increased their stakes in AIG, demonstrating growing institutional confidence in the company.
• AIG announced a quarterly dividend of $0.45 per share, set to be paid on September 30th, representing an annualized dividend yield of 2.2%.

Ashton Thomas Securities LLC bought a new position 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 Securities & Exchange Commission. The firm bought 10,850 shares of the insurance provider's stock, valued at approximately $933,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Focus Partners Advisor Solutions LLC grew its stake in American International Group by 224.1% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 12,260 shares of the insurance provider's stock valued at $1,066,000 after buying an additional 8,477 shares in the last quarter. Centric Wealth Management grew its position in shares of American International Group by 7.2% during the 1st quarter. Centric Wealth Management now owns 35,530 shares of the insurance provider's stock valued at $3,089,000 after purchasing an additional 2,372 shares in the last quarter. Baird Financial Group Inc. increased its holdings in shares of American International Group by 3.2% in the first quarter. Baird Financial Group Inc. now owns 39,344 shares of the insurance provider's stock worth $3,421,000 after purchasing an additional 1,216 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its position in shares of American International Group by 6.6% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 3,508 shares of the insurance provider's stock valued at $305,000 after acquiring an additional 218 shares during the last quarter. Finally, Vident Advisory LLC grew its stake in American International Group by 10.8% in the 1st quarter. Vident Advisory LLC now owns 240,574 shares of the insurance provider's stock worth $20,916,000 after buying an additional 23,532 shares in the last quarter. Institutional investors own 90.60% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AIG shares. Morgan Stanley raised their price target on American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Cfra Research upgraded shares of American International Group to a "moderate buy" rating in a report on Monday, August 11th. Citigroup assumed coverage on American International Group in a report on Wednesday, August 13th. They set a "neutral" rating and a $85.00 price target on the stock. Keefe, Bruyette & Woods cut their price target on shares of American International Group from $97.00 to $91.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Finally, Cantor Fitzgerald raised American International Group to a "hold" rating in a research report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.27.

American International Group Stock Performance

NYSE:AIG traded up $0.37 during mid-day trading on Thursday, hitting $81.71. 3,464,501 shares of the company traded hands, compared to its average volume of 4,496,315. American International Group, Inc. has a one year low of $69.24 and a one year high of $88.07. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. The firm has a market cap of $45.27 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 0.87 and a beta of 0.70. The stock's fifty day moving average price is $81.03 and its 200-day moving average price is $81.96.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, beating 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 the consensus estimate of $6.81 billion. During the same period in the previous year, the business earned $1.16 earnings per share. Research analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 dividend payout ratio (DPR) 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.