Sheets Smith Wealth Management Takes Position in American International Group, Inc. $AIG

Key Points

• Sheets Smith Wealth Management has acquired a new stake in American International Group, Inc. (AIG), purchasing 7,827 shares valued at approximately $670,000.
• AIG reported earnings of $1.81 per share for the latest quarter, surpassing analyst expectations of $1.60, although revenue fell short of consensus estimates at $6.77 billion.
• The company will pay a quarterly dividend of $0.45, representing an annualized dividend of $1.80 and a yield of 2.3%, with the ex-dividend date set for September 16th.

Sheets Smith Wealth Management purchased a new stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,827 shares of the insurance provider's stock, valued at approximately $670,000.

A number of other large investors have also made changes to their positions in the company. Ameriflex Group Inc. acquired a new position in American International Group in the 4th quarter valued at approximately $29,000. Sachetta LLC increased its stake in American International Group by 194.5% in the 1st 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 period. Hemington Wealth Management increased its stake in American International Group by 42.8% in the 1st 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 period. NBC Securities Inc. acquired a new position in American International Group in the 1st quarter valued at approximately $47,000. Finally, WPG Advisers LLC acquired a new position in American International Group in the 1st quarter valued at approximately $47,000. Institutional investors and hedge funds own 90.60% of the company's stock.

American International Group Stock Performance

AIG stock opened at $77.87 on Thursday. 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 company has a market capitalization of $43.14 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 0.82 and a beta of 0.70. American International Group, Inc. has a 12 month low of $69.24 and a 12 month high of $88.07. The firm has a 50 day moving average of $79.52 and a two-hundred day moving average of $81.87.

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

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 16th. American International Group's dividend payout ratio is currently 34.09%.

Wall Street Analysts Forecast Growth

AIG has been the topic of several research reports. Wolfe Research initiated coverage on shares of American International Group in a research note on Tuesday, September 16th. They issued a "peer perform" rating on the stock. William Blair upgraded shares of American International Group to a "strong-buy" rating in a research note on Friday, August 1st. Cfra Research upgraded shares of American International Group to a "moderate buy" rating in a research note on Monday, August 11th. Citigroup initiated coverage on shares of American International Group in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $85.00 target price for the company. Finally, Cantor Fitzgerald raised shares of American International Group to a "hold" rating in a research report on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $88.27.

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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