Concentric Capital Strategies LP Acquires Shares of 8,115 American International Group, Inc. $AIG

Key Points

• Concentric Capital Strategies LP acquired over 8,100 shares of American International Group (AIG) valued at approximately $706,000, marking a new investment in the company.
• AIG reported earnings of $1.81 per share in its recent quarter, surpassing expectations, although its revenue of $6.77 billion slightly fell short of the consensus estimate.
• The company declared a quarterly dividend of $0.45 per share, with a dividend yield of 2.2%, and has a payout ratio of 34.09% as of its latest announcement.

Concentric Capital Strategies LP acquired a new stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,115 shares of the insurance provider's stock, valued at approximately $706,000.

Several other institutional investors have also bought and sold shares of the business. AQR Capital Management LLC lifted its position in American International Group by 184.4% during the first quarter. AQR Capital Management LLC now owns 3,335,040 shares of the insurance provider's stock valued at $287,214,000 after purchasing an additional 2,162,545 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of American International Group in the first quarter valued at $741,000. Ancora Advisors LLC raised its stake in shares of American International Group by 57.0% in the first quarter. Ancora Advisors LLC now owns 851 shares of the insurance provider's stock valued at $74,000 after acquiring an additional 309 shares during the period. Aprio Wealth Management LLC purchased a new stake in shares of American International Group in the first quarter valued at $207,000. Finally, Promethium Advisors LLC raised its stake in shares of American International Group by 50.0% in the first quarter. Promethium Advisors LLC now owns 7,500 shares of the insurance provider's stock valued at $652,000 after acquiring an additional 2,500 shares during the period. Institutional investors own 90.60% of the company's stock.

Analysts Set New Price Targets

AIG has been the topic of several recent analyst reports. Cfra Research raised shares of American International Group to a "moderate buy" rating in a research note on Monday, August 11th. Cantor Fitzgerald raised shares of American International Group to a "hold" rating in a research note on Tuesday, August 12th. Citigroup began 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 on the stock. William Blair raised shares of American International Group to a "strong-buy" rating in a research note on Friday, August 1st. Finally, Keefe, Bruyette & Woods cut their target price on shares of American International Group from $97.00 to $91.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Two research 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $88.27.

American International Group Stock Performance

AIG stock traded down $0.41 during trading on Wednesday, reaching $78.07. The company had a trading volume of 1,066,445 shares, compared to its average volume of 4,478,946. The firm has a 50-day simple moving average of $80.57 and a 200-day simple moving average of $82.11. The company has a market cap of $43.25 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 0.84 and a beta of 0.70. 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 twelve month low of $69.24 and a twelve month high of $88.07.

American International Group (NYSE:AIG - Get Free Report) last released its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.60 by $0.21. The company had revenue of $6.77 billion during 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 period last year, the business earned $1.16 EPS. As a group, sell-side analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The business also recently announced 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. The ex-dividend date is Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. American International Group's dividend payout ratio (DPR) is 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.