Total Clarity Wealth Management Inc. Acquires New Position in American International Group, Inc. $AIG

Total Clarity Wealth Management Inc. bought a new position in American International Group, Inc. (NYSE:AIG) during the third quarter, Holdings Channel.com reports. The fund bought 12,470 shares of the insurance provider’s stock, valued at approximately $979,000.

A number of other large investors have also recently modified their holdings of the company. Westfuller Advisors LLC purchased a new position in American International Group during the 3rd quarter worth $26,000. Atlantic Union Bankshares Corp grew its position in shares of American International Group by 7,100.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock worth $28,000 after buying an additional 355 shares in the last quarter. Eastern Bank increased its stake in shares of American International Group by 2,473.3% during the third quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock valued at $30,000 after buying an additional 371 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new stake in American International Group in the second quarter worth about $32,000. Finally, Motco grew its holdings in American International Group by 950.0% during the 3rd quarter. Motco now owns 420 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 380 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Stock Up 0.4%

AIG stock opened at $80.16 on Thursday. The stock has a market capitalization of $43.01 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 0.61 and a beta of 0.61. American International Group, Inc. has a 52 week low of $71.25 and a 52 week high of $88.07. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average of $78.47 and a 200 day moving average of $78.94.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.06. American International Group had a net margin of 11.56% and a return on equity of 9.79%. The business had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.99 billion. During the same quarter last year, the company posted $1.30 earnings per share. Sell-side analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. American International Group’s payout ratio is currently 33.21%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AIG. Wall Street Zen downgraded shares of American International Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Mizuho boosted their price target on American International Group from $83.00 to $86.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Evercore dropped their price objective on American International Group from $90.00 to $85.00 in a research report on Friday, January 23rd. UBS Group reduced their target price on shares of American International Group from $94.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Finally, Barclays cut their price objective on shares of American International Group from $81.00 to $79.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, American International Group has a consensus rating of “Hold” and an average price target of $87.58.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.