Denali Advisors LLC Has $402,000 Holdings in American International Group, Inc. $AIG

Key Points

• Denali Advisors LLC reduced its holdings in American International Group, Inc. by 56.5%, owning 4,700 shares worth $402,000 after selling 6,100 shares in the second quarter.
• Several hedge funds have modified their positions, with Sachetta LLC increasing its stake by 194.5%, and other funds also purchasing new positions valued between $33,000 and $42,000.
• American International Group reported an EPS of $1.81 for the last quarter, exceeding expectations while announcing a $0.45 quarterly dividend, resulting in an annualized yield of 2.3%.

Denali Advisors LLC lessened its position in American International Group, Inc. (NYSE:AIG - Free Report) by 56.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 4,700 shares of the insurance provider's stock after selling 6,100 shares during the period. Denali Advisors LLC's holdings in American International Group were worth $402,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Sachetta LLC boosted its position in shares of American International Group by 194.5% during the first 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 last quarter. GFG Capital LLC purchased a new position in shares of American International Group during the second quarter valued at approximately $33,000. Barrett & Company Inc. purchased a new position in shares of American International Group during the second quarter valued at approximately $35,000. Hemington Wealth Management boosted its position in shares of American International Group by 42.8% during the first 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 last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in shares of American International Group during the second quarter valued at approximately $42,000. Hedge funds and other institutional investors own 90.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AIG. Bank of America lifted their target price on American International Group from $88.00 to $94.00 and gave the company a "neutral" rating in a research report on Monday, October 13th. Wolfe Research began coverage on American International Group in a research report on Tuesday, September 16th. They set a "peer perform" rating on the stock. JPMorgan Chase & Co. lifted their target price on American International Group from $95.00 to $97.00 and gave the company a "neutral" rating in a research report on Thursday, October 9th. Cantor Fitzgerald upgraded American International Group to a "hold" rating in a report on Tuesday, August 12th. Finally, UBS Group lifted their price target on American International Group from $90.00 to $94.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, American International Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.81.

American International Group Stock Performance

Shares of American International Group stock opened at $78.90 on Thursday. The business's fifty day simple moving average is $79.96 and its 200 day simple moving average is $81.38. The firm has a market capitalization of $43.71 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 0.77 and a beta of 0.68. American International Group, Inc. has a 12 month low of $69.24 and a 12 month high of $88.07. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22.

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

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were paid a $0.45 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. American International Group's payout ratio is presently 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.

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