Wealth Enhancement Advisory Services LLC Purchases 5,006 Shares of American International Group, Inc. $AIG

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in American International Group, Inc. by 2.8% during the second quarter, acquiring an additional 5,006 shares and bringing their total to 186,816 shares worth approximately $15.5 million.
• American International Group reported earnings of $1.81 per share in the latest quarter, surpassing consensus estimates of $1.60, while generating revenues of $6.77 billion.
• The firm announced a quarterly dividend of $0.45 per share, with an annualized dividend yield of 2.3%, to be paid on September 30th to investors of record on September 16th.

Wealth Enhancement Advisory Services LLC boosted its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 186,816 shares of the insurance provider's stock after purchasing an additional 5,006 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in American International Group were worth $15,539,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Wedmont Private Capital increased its stake in American International Group by 4.6% in the 2nd quarter. Wedmont Private Capital now owns 14,050 shares of the insurance provider's stock worth $1,167,000 after purchasing an additional 612 shares during the period. Ayrshire Capital Management LLC boosted its position in shares of American International Group by 0.8% during the second quarter. Ayrshire Capital Management LLC now owns 93,093 shares of the insurance provider's stock valued at $7,968,000 after purchasing an additional 769 shares in the last quarter. Signal Advisors Wealth LLC purchased a new position in American International Group during the second quarter valued at $1,383,000. Sivia Capital Partners LLC raised its stake in American International Group by 30.7% during the second quarter. Sivia Capital Partners LLC now owns 5,050 shares of the insurance provider's stock valued at $432,000 after buying an additional 1,185 shares during the last quarter. Finally, Intelligence Driven Advisers LLC raised its stake in American International Group by 4.6% during the second quarter. Intelligence Driven Advisers LLC now owns 3,049 shares of the insurance provider's stock valued at $261,000 after buying an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company's stock.

American International Group Price Performance

Shares of AIG stock opened at $76.97 on Monday. American International Group, Inc. has a 1-year low of $69.24 and a 1-year high of $88.07. The stock's 50-day moving average is $79.77 and its 200 day moving average is $81.97. The company has a market cap of $42.64 billion, a P/E ratio of 14.58, a PEG ratio of 0.82 and a beta of 0.70. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $0.21. American International Group had a return on equity of 7.88% and a net margin of 11.51%.The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter last year, the company earned $1.16 earnings per share. Research analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.

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