Total Clarity Wealth Management Inc. Makes New Investment in American International Group, Inc. $AIG

Total Clarity Wealth Management Inc. acquired a new stake in shares of American International Group, Inc. (NYSE:AIG) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 12,470 shares of the insurance provider’s stock, valued at approximately $979,000.

A number of other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in American International Group in the 2nd quarter worth $787,724,000. Vanguard Group Inc. boosted its stake in shares of American International Group by 11.6% in the third quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider’s stock worth $5,378,635,000 after acquiring an additional 7,117,583 shares during the period. Viking Global Investors LP purchased a new stake in shares of American International Group during the second quarter worth about $155,413,000. Jupiter Asset Management Ltd. raised its stake in American International Group by 2,157.0% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 1,615,618 shares of the insurance provider’s stock valued at $126,891,000 after purchasing an additional 1,544,037 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in American International Group by 6.1% in the 2nd quarter. Franklin Resources Inc. now owns 12,536,144 shares of the insurance provider’s stock worth $1,072,969,000 after purchasing an additional 716,209 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. UBS Group cut their price objective 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. Bank of America cut their target price on shares of American International Group from $89.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, January 16th. Barclays decreased their price target on shares of American International Group from $81.00 to $79.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 11th. Jefferies Financial Group raised their price objective on American International Group from $96.00 to $101.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Finally, Wells Fargo & Company lifted their target price on American International Group from $85.00 to $87.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat.com, American International Group currently has an average rating of “Hold” and a consensus price target of $87.58.

American International Group Stock Up 0.4%

Shares of NYSE:AIG opened at $80.16 on Thursday. The company has a market cap of $43.01 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 0.61 and a beta of 0.61. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $88.07. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $78.47 and a 200 day moving average price of $78.94.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.06. The company had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.99 billion. American International Group had a return on equity of 9.79% and a net margin of 11.56%.During the same period in the previous year, the firm posted $1.30 earnings per share. As a group, equities research analysts predict 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 disclosed 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 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 33.21%.

American International Group 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.