Foster & Motley Inc. Has $2.57 Million Stake in American International Group, Inc. $AIG

Key Points

• Foster & Motley Inc. increased its stake in American International Group, Inc. (AIG) by 19.4%, owning 30,036 shares valued at approximately $2.57 million as per their recent SEC filing.
• AIG reported a quarterly earnings of $1.81 per share, exceeding analysts' expectations of $1.60, but its revenue of $6.77 billion fell short of estimates of $6.81 billion.
• The company declared a quarterly dividend of $0.45, with an annualized yield of 2.3%, and currently has a dividend payout ratio of 34.09%.

Foster & Motley Inc. raised its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 19.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,036 shares of the insurance provider's stock after buying an additional 4,880 shares during the quarter. Foster & Motley Inc.'s holdings in American International Group were worth $2,571,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Sachetta LLC increased its holdings in shares of American International Group by 194.5% in the first quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock worth $33,000 after acquiring an additional 249 shares in the last quarter. GFG Capital LLC bought a new stake in shares of American International Group in the second quarter worth about $33,000. Barrett & Company Inc. bought a new stake in shares of American International Group in the second quarter worth about $35,000. Hemington Wealth Management increased its holdings in shares of American International Group by 42.8% in the first quarter. Hemington Wealth Management now owns 474 shares of the insurance provider's stock worth $41,000 after acquiring an additional 142 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in shares of American International Group in the second quarter worth about $42,000. Institutional investors and hedge funds own 90.60% of the company's stock.

American International Group Stock Up 0.4%

AIG stock opened at $77.30 on Friday. 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 business has a 50 day moving average price of $80.00 and a two-hundred day moving average price of $81.46. The company has a market cap of $42.82 billion, a price-to-earnings ratio of 14.64, a P/E/G ratio of 0.76 and a beta of 0.68. 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 posted its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $0.21. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate 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 last year, the company earned $1.16 earnings per share. Analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Tuesday, September 16th. American International Group's dividend payout ratio (DPR) is currently 34.09%.

Analyst Ratings Changes

Several brokerages have issued reports on AIG. JPMorgan Chase & Co. increased their price target on American International Group from $95.00 to $97.00 and gave the stock a "neutral" rating in a report on Thursday, October 9th. Cantor Fitzgerald upgraded American International Group to a "hold" rating in a report on Tuesday, August 12th. Morgan Stanley dropped their target price on American International Group from $85.00 to $84.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 7th. 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. Finally, Jefferies Financial Group lifted their target price on American International Group from $96.00 to $99.00 and gave the company a "buy" rating in a research report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $89.81.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.