FORA Capital LLC Invests $501,000 in American International Group, Inc. (NYSE:AIG)

FORA Capital LLC purchased a new stake in American International Group, Inc. (NYSE:AIG) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,835 shares of the insurance provider’s stock, valued at approximately $501,000.

Several other institutional investors and hedge funds have also bought and sold shares of AIG. Townsquare Capital LLC lifted its holdings in shares of American International Group by 13.0% during the 3rd quarter. Townsquare Capital LLC now owns 108,922 shares of the insurance provider’s stock worth $7,976,000 after acquiring an additional 12,517 shares during the period. Avestar Capital LLC lifted its stake in American International Group by 11.3% during the third quarter. Avestar Capital LLC now owns 3,623 shares of the insurance provider’s stock worth $265,000 after purchasing an additional 368 shares during the last quarter. Brooklyn Investment Group boosted its holdings in shares of American International Group by 12.6% in the 3rd quarter. Brooklyn Investment Group now owns 5,128 shares of the insurance provider’s stock valued at $376,000 after purchasing an additional 573 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of American International Group during the 3rd quarter worth $1,819,000. Finally, Dai ichi Life Insurance Company Ltd raised its holdings in shares of American International Group by 179.8% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 23,344 shares of the insurance provider’s stock worth $1,709,000 after buying an additional 15,000 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

Insider Activity

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This trade represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

American International Group Price Performance

American International Group stock opened at $77.14 on Friday. The stock’s 50 day moving average price is $75.75 and its two-hundred day moving average price is $75.53. The stock has a market capitalization of $48.12 billion, a price-to-earnings ratio of -22.76, a PEG ratio of 7.53 and a beta of 1.05. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. American International Group, Inc. has a 52-week low of $64.54 and a 52-week high of $80.83.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.13. The firm had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. During the same period in the previous year, the firm posted $1.61 earnings per share. On average, equities analysts predict that American International Group, Inc. will post 5.12 earnings per share for the current year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be paid a $0.40 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. American International Group’s dividend payout ratio (DPR) is presently -47.20%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. StockNews.com raised shares of American International Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Bank of America raised their target price on shares of American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Piper Sandler lowered their price target on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. upgraded American International Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $93.00 to $89.00 in a research report on Thursday, October 10th. Finally, Jefferies Financial Group upped their price objective on American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, American International Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.80.

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.