Sagespring Wealth Partners LLC Has $849,000 Holdings in American International Group, Inc. (NYSE:AIG)

Sagespring Wealth Partners LLC raised its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 136.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,764 shares of the insurance provider's stock after purchasing an additional 5,637 shares during the period. Sagespring Wealth Partners LLC's holdings in American International Group were worth $849,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Murphy Pohlad Asset Management LLC increased its holdings in American International Group by 0.4% in the first quarter. Murphy Pohlad Asset Management LLC now owns 52,487 shares of the insurance provider's stock valued at $4,563,000 after buying an additional 225 shares during the last quarter. Western Pacific Wealth Management LP grew its position in shares of American International Group by 2.3% in the 1st quarter. Western Pacific Wealth Management LP now owns 5,673 shares of the insurance provider's stock worth $493,000 after acquiring an additional 125 shares in the last quarter. Sowell Financial Services LLC acquired a new position in shares of American International Group in the 1st quarter worth approximately $768,000. Mission Wealth Management LP bought a new stake in shares of American International Group in the 1st quarter valued at approximately $221,000. Finally, D Orazio & Associates Inc. acquired a new stake in shares of American International Group during the 1st quarter valued at approximately $220,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of American International Group from $81.00 to $85.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. The Goldman Sachs Group lifted their price target on shares of American International Group from $79.00 to $87.00 and gave the company a "neutral" rating in a report on Tuesday, April 1st. HSBC raised shares of American International Group from a "hold" rating to a "buy" rating and set a $93.00 price objective for the company in a research report on Wednesday, March 5th. Evercore ISI raised their target price on shares of American International Group from $81.00 to $89.00 and gave the stock an "in-line" rating in a report on Tuesday, April 1st. Finally, JPMorgan Chase & Co. restated a "neutral" rating and issued a $91.00 target price (up from $83.00) on shares of American International Group in a research note on Tuesday, April 8th. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $88.12.

Insiders Place Their Bets

In other American International Group news, EVP Christopher Flatt sold 46,182 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the completion of the transaction, the executive vice president now directly owns 21,400 shares in the company, valued at $1,781,764. This represents a 68.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.50% of the company's stock.

American International Group Price Performance

AIG stock traded up $0.08 on Thursday, hitting $84.30. 4,097,233 shares of the company's stock traded hands, compared to its average volume of 4,411,614. 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 stock has a market cap of $48.59 billion, a price-to-earnings ratio of -31.69, a P/E/G ratio of 0.91 and a beta of 0.64. American International Group, Inc. has a 1-year low of $69.00 and a 1-year high of $88.07. The stock has a fifty day moving average of $83.04 and a 200-day moving average of $79.02.

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

American International Group Increases Dividend

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

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.