Souders Financial Advisors Makes New Investment in American International Group, Inc. (NYSE:AIG)

Souders Financial Advisors acquired a new position in American International Group, Inc. (NYSE:AIG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,217 shares of the insurance provider's stock, valued at approximately $280,000.

A number of other hedge funds have also recently added to or reduced their stakes in AIG. Norges Bank acquired a new position in American International Group in the fourth quarter worth approximately $718,013,000. Bank of New York Mellon Corp increased its holdings in American International Group by 20.4% in the first quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider's stock worth $974,840,000 after buying an additional 1,901,998 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in American International Group in the fourth quarter worth approximately $135,325,000. Wellington Management Group LLP boosted its position in American International Group by 7.2% during the fourth quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider's stock worth $1,951,427,000 after purchasing an additional 1,791,964 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in American International Group by 2,134.0% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,426,985 shares of the insurance provider's stock worth $103,885,000 after purchasing an additional 1,363,108 shares during the period. Institutional investors and hedge funds own 90.60% of the company's stock.

Insider Transactions at American International Group

In other news, EVP Christopher Flatt sold 46,182 shares of American International Group stock in a transaction dated 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 transaction, the executive vice president owned 21,400 shares in the company, valued at $1,781,764. The trade was a 68.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AIG shares. Jefferies Financial Group upped their target price on American International Group from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Evercore ISI upped their target price 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. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $91.00 target price (up previously from $83.00) on shares of American International Group in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft upped their target price on American International Group to $91.00 and gave the stock a "buy" rating in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods increased their price objective on American International Group from $94.00 to $97.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.19.

American International Group Price Performance

American International Group stock traded down $0.28 during mid-day trading on Thursday, hitting $79.23. 1,624,087 shares of the company were exchanged, compared to its average volume of 4,565,755. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average of $83.59 and a 200 day moving average of $80.71. American International Group, Inc. has a 1-year low of $69.00 and a 1-year high of $88.07. The company has a market capitalization of $45.66 billion, a PE ratio of -29.77, a price-to-earnings-growth ratio of 0.90 and a beta of 0.63.

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 for the quarter, beating analysts' consensus estimates of $1.04 by $0.13. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.89 billion. American International Group had a positive return on equity of 7.13% and a negative net margin of 7.05%. During the same period last year, the company posted $1.25 earnings per share. As a group, sell-side analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a dividend of $0.45 per share. The ex-dividend date was Friday, June 13th. This represents a $1.80 dividend on an annualized basis and a yield of 2.27%. This is a boost from American International Group's previous quarterly dividend of $0.40. American International Group's dividend payout ratio (DPR) is -67.67%.

American International Group 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.