Chemistry Wealth Management LLC Buys New Shares in American International Group, Inc. $AIG

Key Points

• Chemistry Wealth Management LLC acquired 5,249 shares of American International Group, Inc. (AIG), valued at approximately $449,000, in the second quarter.
• A number of hedge funds, including Brighton Jones LLC and Nomura Holdings Inc., have increased their stakes in AIG, demonstrating growing institutional interest in the company.
• Analysts have issued positive ratings for AIG, with a consensus price target of $88.27, and the stock currently has an average rating of "Moderate Buy."

Chemistry Wealth Management LLC bought a new stake in American International Group, Inc. (NYSE:AIG - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,249 shares of the insurance provider's stock, valued at approximately $449,000.

A number of other hedge funds have also added to or reduced their stakes in AIG. Brighton Jones LLC bought a new position in American International Group in the fourth quarter valued at $1,091,000. Focus Partners Wealth grew its position in American International Group by 19.2% in the fourth quarter. Focus Partners Wealth now owns 14,606 shares of the insurance provider's stock valued at $1,063,000 after purchasing an additional 2,350 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in American International Group in the fourth quarter valued at $1,496,000. ProShare Advisors LLC lifted its stake in American International Group by 7.5% in the fourth quarter. ProShare Advisors LLC now owns 137,113 shares of the insurance provider's stock valued at $9,982,000 after acquiring an additional 9,585 shares during the last quarter. Finally, Raiffeisen Bank International AG acquired a new stake in American International Group in the fourth quarter valued at $513,000. Institutional investors own 90.60% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Citigroup assumed coverage on shares of American International Group in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $85.00 price target for the company. Wall Street Zen upgraded shares of American International Group from a "hold" rating to a "buy" rating in a research note on Monday. Cantor Fitzgerald upgraded shares of American International Group to a "hold" rating in a research note on Tuesday, August 12th. William Blair upgraded shares of American International Group to a "strong-buy" rating in a research note on Friday, August 1st. Finally, Cfra Research upgraded shares of American International Group to a "moderate buy" rating in a research note on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $88.27.

American International Group Price Performance

AIG stock opened at $78.90 on Monday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 12 month low of $69.24 and a 12 month high of $88.07. The firm has a market cap of $43.71 billion, a P/E ratio of 14.94, a P/E/G ratio of 0.84 and a beta of 0.70. The company's 50-day moving average price is $80.34 and its two-hundred day moving average price is $82.13.

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 analysts' expectations 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 quarter in the previous year, the firm posted $1.16 earnings per share. On average, 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 announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 16th. American International Group's 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.

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