Harrell Investment Partners LLC Purchases Shares of 5,562 American International Group, Inc. (NYSE:AIG)

Harrell Investment Partners LLC acquired a new stake in American International Group, Inc. (NYSE:AIG - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,562 shares of the insurance provider's stock, valued at approximately $484,000.

Other large investors have also made changes to their positions in the company. McHugh Group LLC bought a new stake in American International Group during the 1st quarter valued at $217,000. Aspiriant LLC boosted its position in American International Group by 19.8% during the 1st quarter. Aspiriant LLC now owns 3,503 shares of the insurance provider's stock valued at $305,000 after acquiring an additional 580 shares in the last quarter. Grove Bank & Trust boosted its position in American International Group by 14.7% during the 1st quarter. Grove Bank & Trust now owns 3,660 shares of the insurance provider's stock valued at $318,000 after acquiring an additional 470 shares in the last quarter. Grimes & Company Inc. bought a new stake in American International Group during the 1st quarter valued at $229,000. Finally, Sagespring Wealth Partners LLC boosted its position in American International Group by 136.6% during the 1st quarter. Sagespring Wealth Partners LLC now owns 9,764 shares of the insurance provider's stock valued at $849,000 after acquiring an additional 5,637 shares in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Christopher Flatt sold 46,182 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the completion of the sale, the executive vice president now directly owns 21,400 shares of the company's stock, valued at $1,781,764. The trade was a 68.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.50% of the company's stock.

American International Group Price Performance

AIG stock opened at $84.30 on Thursday. The firm has a 50 day moving average of $83.04 and a 200-day moving average of $79.02. American International Group, Inc. has a 12-month low of $69.00 and a 12-month high of $88.07. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.21. The company has a market cap of $48.59 billion, a price-to-earnings ratio of -31.69, a PEG ratio of 0.91 and a beta of 0.64.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.13. The business had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.89 billion. American International Group had a negative net margin of 7.05% and a positive return on equity of 7.13%. During the same period last year, the company posted $1.25 EPS. As a group, equities analysts expect that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, June 13th. This is a boost from American International Group's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.14%. American International Group's payout ratio is currently -67.67%.

Analyst Ratings Changes

Several brokerages have issued reports on AIG. Morgan Stanley increased their target price on American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. The Goldman Sachs Group increased their price objective on American International Group from $79.00 to $87.00 and gave the company a "neutral" rating in a report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft increased their price objective on American International Group to $91.00 and gave the company a "buy" rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods raised their target price on American International Group from $94.00 to $97.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Finally, Barclays raised their target price on American International Group from $92.00 to $93.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $88.12.

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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