Resona Asset Management Co. Ltd. Reduces Holdings in American International Group, Inc. $AIG

Resona Asset Management Co. Ltd. lowered its position in shares of American International Group, Inc. (NYSE:AIG) by 2.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 189,368 shares of the insurance provider’s stock after selling 5,729 shares during the period. Resona Asset Management Co. Ltd.’s holdings in American International Group were worth $16,179,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Sachetta LLC grew its stake in American International Group by 194.5% during the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock worth $33,000 after buying an additional 249 shares during the last quarter. GFG Capital LLC acquired a new stake in shares of American International Group in the second quarter valued at approximately $33,000. Barrett & Company Inc. purchased a new position in shares of American International Group during the second quarter worth approximately $35,000. NewSquare Capital LLC increased its stake in American International Group by 58.6% in the second quarter. NewSquare Capital LLC now owns 417 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 154 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new position in American International Group in the 2nd quarter valued at about $40,000. 90.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AIG shares. Jefferies Financial Group increased their price target on American International Group from $96.00 to $99.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. The Goldman Sachs Group raised their target price on shares of American International Group from $85.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Cfra Research raised shares of American International Group to a “moderate buy” rating in a report on Monday, August 11th. Morgan Stanley lowered their price objective on American International Group from $85.00 to $84.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 7th. Finally, Piper Sandler dropped their target price on American International Group from $96.00 to $88.00 and set an “overweight” rating on the stock in a research report on Thursday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $90.13.

American International Group Stock Performance

Shares of AIG opened at $76.80 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 52-week low of $69.24 and a 52-week high of $88.07. The company has a 50-day simple moving average of $79.13 and a 200-day simple moving average of $81.19. The company has a market capitalization of $42.55 billion, a PE ratio of 14.55, a P/E/G ratio of 0.77 and a beta of 0.73.

American International Group (NYSE:AIG) last issued its earnings results on Tuesday, November 4th. The insurance provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.63. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same period in the prior year, the business posted $1.23 earnings per share. Equities research analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 16th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.80 annualized dividend and a yield of 2.3%. American International Group’s payout ratio is currently 32.73%.

About American International Group

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.