June 26, 2023 – &Signet Financial Management LLC has entered the market with a bang by purchasing a new stake in American International Group, Inc. (NYSE:AIG) during the first quarter of this year. The management company revealed that it had bought 9,459 shares of the insurance provider’s stock valued at an estimated $476,000. This news is excellent for both investors and the company as AIG appears to be making a comeback since their failure during the financial crisis of 2008.
In addition to its recent disclosure about buying stocks in AIG, &Signet also announced that the company declared a quarterly dividend that will be paid on Friday, June 30th. Investors of record prior to Friday, June 16th will receive a $0.36 payment per share. That’s quite an increase from their previous quarterly dividend payout of $0.32 per share which showed unprecedented growth for shareholders.
The positive outlook for AIG didn’t stop there as we learned that International Group American purchased 800,000 additional shares (valued at over $25 million) on Wednesday, June 14th. With this purchase, they now hold direct possession of more than 400,000 shares totaling around $10 million.For any investor looking for assurance that AIG may become one of the top-performing stocks in today’s market landscape should look no further than these rising numbers.
Despite several hurdles faced by AIG over the years like nearly going bankrupt during the financial crisis and undergoing extensive bailouts from TARP (the Troubled Asset Relief Program), it appears that they are finally emerging from troubled waters by attracting major companies like &Signet Financial Management to invest in its future prospects.
In conclusion, it seems apparent that American International Group’s improving business shows unity towards moving forward within their industry while demonstrating resilience after overcoming several obstacles in recent years. These significant steps toward progress have encouraged investors to purchase AIG’s stocks which paints a bright future ahead for the company.
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Institutional Investors and Hedge Funds Show Interest in AIG, Analysts Offer Mixed Ratings
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”AIG” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]American International Group, Inc. (AIG) has seen recent activity by institutional investors and hedge funds. According to reports, as of the first quarter, 88.18% of AIG’s stock was owned by institutional investors and hedge funds.
Several buyers have recently acquired stakes in AIG. Fairfield Bush & CO. invested in a new position valued at $84,000 in the first quarter. Meanwhile, Cetera Advisor Networks LLC increased its stake in the company by 11.7%, while Blair William & Co IL grew its stake by 1.2%. Additionally, Cetera Investment Advisers raised their stake in AIG by 20.1%, and Sequoia Financial Advisors LLC increased theirs by 43.3%.
Numerous analyst reports have been issued regarding AIG’s stock performance over the past few months. StockNews.com began coverage with a “hold” rating on May 18th, while Barclays boosted their price objective on shares from $55 to $58 on May 9th. Jefferies Financial Group also reduced their target price from $75 to $67 and gave a “buy” rating.
As of June 26th, AIG opened at $55.22 with a market capitalization of $39.97 billion and a P/E ratio of 7.21 alongside a beta of 1 .12.The company’s one year high is 64 .88 and the low is 45 .66.
In its most recent earnings report released on May 5th, AIG reported earnings per share (EPS) of $1 .63 for Q1 compared to analyst estimates of $1 .43 – an increase of $.20 per share which beat predictions.The insurer had revenue in the region of $10 .98 billion for Q1 compared to predictions that it would reach$11 .35 billion.The company had previously posted EPS figures last year for that same period of $1.30.
The firm has declared a recent quarterly dividend of $0.36 which will be paid on June 30th to investors holding records, as of June 16th.The payout ratio is at present at 18 .80%, an increase from the previous quarter’s rate of $0.32 per share.
AIG has an average rating of “Hold” and an average price target of $66.86, according to data from Bloomberg. However, with competing ratings ranging from “in-line” reports to “buy,” there is considerable difference in opinion regarding this stock’s ability for growth in the near future.
