Mayfair Advisory Group LLC Makes New $259,000 Investment in American International Group, Inc. (NYSE:AIG)

Mayfair Advisory Group LLC acquired a new position in shares of American International Group, Inc. (NYSE:AIG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,402 shares of the insurance provider’s stock, valued at approximately $259,000.

Other large investors have also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc bought a new stake in American International Group in the 3rd quarter valued at approximately $26,000. Fortitude Family Office LLC boosted its stake in shares of American International Group by 199.2% during the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after buying an additional 239 shares during the last quarter. Y.D. More Investments Ltd bought a new stake in American International Group during the second quarter worth about $27,000. Valued Wealth Advisors LLC grew its stake in American International Group by 303.3% in the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 276 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of American International Group by 326.0% during the 2nd quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 339 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

Shares of NYSE:AIG opened at $76.81 on Friday. American International Group, Inc. has a 1 year low of $59.12 and a 1 year high of $80.83. The stock has a market capitalization of $50.98 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 3.88 and a beta of 1.06. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. The company’s 50 day simple moving average is $74.83 and its 200 day simple moving average is $75.51.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). The business had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. American International Group’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the firm posted $1.75 EPS. As a group, research analysts predict that American International Group, Inc. will post 5.09 EPS for the current fiscal year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. American International Group’s payout ratio is currently 23.88%.

Wall Street Analyst Weigh In

AIG has been the subject of several analyst reports. Citigroup decreased their target price on shares of American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, July 23rd. Piper Sandler lowered their price target on American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Keefe, Bruyette & Woods reduced their target price on American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Bank of America upped their price objective on shares of American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $87.00 price objective on shares of American International Group in a research report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $84.38.

Insider Activity at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the transaction, the insider now owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is currently owned by insiders.

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.