Kestra Advisory Services LLC Has $5.15 Million Position in American International Group, Inc. $AIG

Kestra Advisory Services LLC raised its position in American International Group, Inc. (NYSE:AIG) by 27.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,395 shares of the insurance provider’s stock after purchasing an additional 14,681 shares during the quarter. Kestra Advisory Services LLC’s holdings in American International Group were worth $5,147,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AIG. Geneos Wealth Management Inc. raised its holdings in American International Group by 2.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock valued at $434,000 after buying an additional 129 shares during the last quarter. Westwood Holdings Group Inc. grew its holdings in American International Group by 2.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock worth $396,000 after acquiring an additional 130 shares during the last quarter. Larson Financial Group LLC increased its position in American International Group by 12.6% in the 4th quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider’s stock valued at $107,000 after acquiring an additional 140 shares during the period. GW&K Investment Management LLC increased its position in American International Group by 8.1% in the 4th quarter. GW&K Investment Management LLC now owns 1,917 shares of the insurance provider’s stock valued at $164,000 after acquiring an additional 144 shares during the period. Finally, Kestra Private Wealth Services LLC raised its stake in shares of American International Group by 1.3% during the first quarter. Kestra Private Wealth Services LLC now owns 11,048 shares of the insurance provider’s stock valued at $831,000 after acquiring an additional 146 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Trading Down 2.9%

AIG opened at $76.70 on Thursday. The company has a fifty day moving average price of $76.31 and a two-hundred day moving average price of $76.75. American International Group, Inc. has a 1-year low of $71.25 and a 1-year high of $87.29. The company has a market cap of $40.67 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 0.72 and a beta of 0.53. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23.

American International Group (NYSE:AIG) last released its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.22. The company had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $7.03 billion. American International Group had a net margin of 11.86% and a return on equity of 10.93%. During the same quarter in the prior year, the firm earned $1.17 EPS. Analysts predict that American International Group, Inc. will post 8 EPS for the current fiscal year.

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.6%. This is a boost from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Monday, June 15th. American International Group’s dividend payout ratio (DPR) is currently 35.27%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AIG. Weiss Ratings upgraded shares of American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. Keefe, Bruyette & Woods lowered their target price on American International Group from $98.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, July 8th. Piper Sandler restated a “neutral” rating and set a $80.00 price objective (down from $88.00) on shares of American International Group in a research report on Wednesday. Barclays upped their price objective on shares of American International Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Finally, BMO Capital Markets increased their price objective on shares of American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $88.00.

About American International Group

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.