Nomura Asset Management Co. Ltd. Grows Holdings in American International Group, Inc. $AIG

Nomura Asset Management Co. Ltd. raised its position in shares of American International Group, Inc. (NYSE:AIG) by 2.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 365,833 shares of the insurance provider’s stock after purchasing an additional 7,038 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in American International Group were worth $31,312,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. GFG Capital LLC purchased a new stake in shares of American International Group in the second quarter worth $33,000. Barrett & Company Inc. purchased a new position in shares of American International Group during the 2nd quarter valued at $35,000. NewSquare Capital LLC boosted its holdings in American International Group by 58.6% in the 2nd quarter. NewSquare Capital LLC now owns 417 shares of the insurance provider’s stock worth $36,000 after buying an additional 154 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in American International Group in the 2nd quarter worth $40,000. Finally, Hemington Wealth Management raised its holdings in American International Group by 42.8% during the first quarter. Hemington Wealth Management now owns 474 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 142 shares during the period. 90.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AIG shares. UBS Group boosted their price objective on American International Group from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Cfra Research raised American International Group to a “moderate buy” rating in a report on Monday, August 11th. Bank of America upped their price target on American International Group from $88.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, October 13th. Piper Sandler cut their price objective on shares of American International Group from $96.00 to $88.00 and set an “overweight” rating for the company in a report on Thursday, October 2nd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of American International Group in a report on Thursday, November 13th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.00.

American International Group Stock Performance

NYSE AIG opened at $77.04 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63. American International Group, Inc. has a 1-year low of $69.24 and a 1-year high of $88.07. The business has a 50 day simple moving average of $78.71 and a two-hundred day simple moving average of $80.95. The stock has a market capitalization of $41.57 billion, a PE ratio of 14.59, a P/E/G ratio of 0.77 and a beta of 0.73.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.63. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.82 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same period in the prior year, the firm earned $1.23 EPS. On average, research analysts predict that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

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

American International Group Company Profile

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.