American International Group, Inc. (NYSE:AIG) Shares Acquired by Legacy Advisors LLC

Legacy Advisors LLC lifted its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 266.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,037 shares of the insurance provider's stock after acquiring an additional 11,664 shares during the period. Legacy Advisors LLC's holdings in American International Group were worth $1,394,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of American International Group by 175.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 181,810 shares of the insurance provider's stock valued at $15,807,000 after purchasing an additional 115,706 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of American International Group by 54.3% in the fourth quarter. Jones Financial Companies Lllp now owns 12,690 shares of the insurance provider's stock valued at $924,000 after acquiring an additional 4,468 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of American International Group by 34.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 11,161 shares of the insurance provider's stock valued at $813,000 after buying an additional 2,874 shares during the last quarter. Brighton Jones LLC bought a new stake in shares of American International Group during the fourth quarter valued at approximately $1,091,000. Finally, NBC Securities Inc. acquired a new stake in shares of American International Group in the 1st quarter valued at $47,000. 90.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AIG. Hsbc Global Res raised shares of American International Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Wells Fargo & Company lifted their price target on shares of American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group raised their target price on shares of American International Group from $79.00 to $87.00 and gave the company a "neutral" rating in a research note on Tuesday, April 1st. Evercore ISI boosted their price target on American International Group from $81.00 to $89.00 and gave the stock an "in-line" rating in a research report on Tuesday, April 1st. Finally, Keefe, Bruyette & Woods raised their target price on shares of American International Group from $94.00 to $97.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Nine research 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 company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $88.12.

American International Group Stock Performance

Shares of AIG stock traded up $0.12 during trading hours on Friday, hitting $85.09. The company's stock had a trading volume of 106,781 shares, compared to its average volume of 4,361,150. The stock has a market cap of $49.04 billion, a PE ratio of -31.92, a price-to-earnings-growth ratio of 0.91 and a beta of 0.64. American International Group, Inc. has a 12-month low of $69.00 and a 12-month high of $88.07. The company has a 50 day moving average of $83.45 and a 200 day moving average of $79.42. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.21.

American International Group (NYSE:AIG - Get Free Report) last announced its earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.13. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates 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 quarter last year, the business earned $1.25 earnings per share. On average, sell-side analysts forecast that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.12%. This is a boost from American International Group's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, June 13th. American International Group's dividend payout ratio is -67.67%.

Insider Transactions at American International Group

In related news, EVP Christopher Flatt sold 46,182 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $83.26, for a total value of $3,845,113.32. Following the transaction, the executive vice president now directly owns 21,400 shares of the company's stock, valued at $1,781,764. This trade represents a 68.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.50% of the company's stock.

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.