Legal & General Group Plc cut its position in shares of American International Group, Inc. (NYSE:AIG – Free Report) by 3.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,265,264 shares of the insurance provider’s stock after selling 121,404 shares during the quarter. Legal & General Group Plc’s holdings in American International Group were worth $279,343,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Navalign LLC purchased a new stake in shares of American International Group in the fourth quarter valued at approximately $29,000. Atlantic Union Bankshares Corp raised its stake in American International Group by 7,100.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 355 shares during the last quarter. Aventura Private Wealth LLC acquired a new position in American International Group in the 4th quarter valued at $39,000. JPL Wealth Management LLC acquired a new position in American International Group in the 3rd quarter valued at $39,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in American International Group in the 4th quarter valued at $52,000. 90.60% of the stock is owned by hedge funds and other institutional investors.
American International Group Stock Performance
NYSE AIG opened at $77.23 on Wednesday. The stock has a market cap of $40.95 billion, a PE ratio of 13.62, a P/E/G ratio of 0.71 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, Inc. has a twelve month low of $71.25 and a twelve month high of $87.46. The stock has a fifty day simple moving average of $76.20 and a 200-day simple moving average of $77.61.
American International Group Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, June 15th. This is a positive change from American International Group’s previous quarterly dividend of $0.45. American International Group’s dividend payout ratio is currently 35.27%.
Analyst Upgrades and Downgrades
Several research firms recently commented on AIG. Keefe, Bruyette & Woods increased their price objective on American International Group from $97.00 to $98.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. BMO Capital Markets increased their price objective on American International Group from $83.00 to $89.00 in a research note on Thursday, May 7th. Citigroup increased their price objective on American International Group from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. The Goldman Sachs Group increased their price objective on American International Group from $87.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Finally, HSBC raised their target price on 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 research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $88.06.
Check Out Our Latest Stock Analysis on AIG
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.
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