Cooper Financial Group Buys 5,567 Shares of American International Group, Inc. (NYSE:AIG)

Key Points

• Cooper Financial Group increased its stake in American International Group (AIG) by 79.8% in the first quarter, acquiring a total of 12,540 shares valued at approximately $1,090,000.
• AIG reported earnings of $1.81 per share in its most recent quarter, surpassing the consensus estimate of $1.60, while its revenue was slightly below expectations at $6.77 billion.
• AIG has declared a quarterly dividend of $0.45 per share, resulting in an annualized dividend yield of 2.3%, payable on September 30th.

Cooper Financial Group grew its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 79.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,540 shares of the insurance provider's stock after purchasing an additional 5,567 shares during the quarter. Cooper Financial Group's holdings in American International Group were worth $1,090,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Ameriflex Group Inc. bought a new position in American International Group in the 4th quarter valued at about $29,000. Sachetta LLC increased its holdings in American International Group by 194.5% in the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock valued at $33,000 after buying an additional 249 shares during the period. Hemington Wealth Management increased its holdings in American International Group by 42.8% in the 1st quarter. Hemington Wealth Management now owns 474 shares of the insurance provider's stock valued at $41,000 after buying an additional 142 shares during the period. NBC Securities Inc. acquired a new stake in shares of American International Group in the 1st quarter valued at approximately $47,000. Finally, Colonial Trust Co SC boosted its stake in shares of American International Group by 150.2% in the 4th quarter. Colonial Trust Co SC now owns 738 shares of the insurance provider's stock valued at $54,000 after purchasing an additional 443 shares in the last quarter. 90.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reduced 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 research note on Tuesday. Morgan Stanley lifted their target price on shares of American International Group from $81.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Wall Street Zen upgraded shares of American International Group from a "hold" rating to a "buy" rating in a research report on Saturday. William Blair upgraded shares of American International Group to a "strong-buy" rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company raised their price target on shares of American International Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $87.75.

American International Group Stock Up 1.8%

AIG traded up $1.43 during mid-day trading on Wednesday, reaching $79.91. 4,293,698 shares of the stock were exchanged, compared to its average volume of 4,360,877. American International Group, Inc. has a 1 year low of $69.24 and a 1 year high of $88.07. The company has a 50 day moving average price of $82.15 and a two-hundred day moving average price of $81.26. The stock has a market capitalization of $44.27 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 0.85 and a beta of 0.63. 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 (NYSE:AIG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $6.81 billion. During the same period in the previous year, the business posted $1.16 EPS. As a group, research analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, September 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. American International Group's dividend 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.