Securian Asset Management Inc. lowered its stake in shares of American International Group, Inc. (NYSE:AIG – Free Report) by 45.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,672 shares of the insurance provider’s stock after selling 12,082 shares during the period. Securian Asset Management Inc.’s holdings in American International Group were worth $1,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of AIG. Westfuller Advisors LLC bought a new stake in shares of American International Group in the third quarter worth about $26,000. Atlantic Union Bankshares Corp boosted its stake in American International Group by 7,100.0% during the third quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock valued at $28,000 after buying an additional 355 shares during the last quarter. Eastern Bank grew its holdings in American International Group by 2,473.3% during the 3rd quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock valued at $30,000 after buying an additional 371 shares in the last quarter. Aventura Private Wealth LLC purchased a new position in American International Group during the 4th quarter valued at approximately $39,000. Finally, JPL Wealth Management LLC bought a new stake in shares of American International Group in the 3rd quarter valued at approximately $39,000. Institutional investors own 90.60% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently weighed in on AIG. Piper Sandler cut their target price on American International Group from $95.00 to $88.00 and set an “overweight” rating on the stock in a research report on Thursday, February 12th. Keefe, Bruyette & Woods boosted their price objective on shares of American International Group from $97.00 to $98.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. BMO Capital Markets increased their target price on shares of American International Group from $83.00 to $89.00 in a research note on Thursday, May 7th. Cantor Fitzgerald raised their target price on shares of American International Group from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Finally, HSBC lifted their price target on shares of American International Group from $89.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, American International Group presently has a consensus rating of “Hold” and an average price target of $88.06.
American International Group Trading Up 0.4%
AIG stock opened at $76.36 on Wednesday. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $87.46. The firm’s 50-day moving average is $76.45 and its 200 day moving average is $77.72. The company has a market capitalization of $40.49 billion, a PE ratio of 13.47, a P/E/G ratio of 0.73 and a beta of 0.53. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65.
American International Group (NYSE:AIG – Get Free Report) last issued its earnings results on Thursday, April 30th. The insurance provider reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.22. The business had revenue of $7.02 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned $1.17 EPS. On average, research analysts anticipate that American International Group, Inc. will post 7.95 EPS for the current year.
American International Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.6%. This is an increase from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, June 15th. American International Group’s payout ratio is currently 31.75%.
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.
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