Cibc World Market Inc. grew its holdings in shares of American International Group, Inc. (NYSE:AIG – Free Report) by 10.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 102,648 shares of the insurance provider’s stock after purchasing an additional 9,875 shares during the quarter. Cibc World Market Inc.’s holdings in American International Group were worth $8,782,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Geneos Wealth Management Inc. boosted its holdings in shares of American International Group by 2.6% during the 2nd quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock worth $434,000 after buying an additional 129 shares in the last quarter. Westwood Holdings Group Inc. boosted its holdings in shares of American International Group by 2.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock worth $396,000 after buying an additional 130 shares in the last quarter. JFS Wealth Advisors LLC boosted its holdings in shares of American International Group by 17.7% during the 3rd quarter. JFS Wealth Advisors LLC now owns 872 shares of the insurance provider’s stock worth $68,000 after buying an additional 131 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of American International Group by 12.6% during the 4th quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider’s stock worth $107,000 after buying an additional 140 shares in the last quarter. Finally, One Wealth Capital Management LLC boosted its holdings in shares of American International Group by 3.7% during the 3rd quarter. One Wealth Capital Management LLC now owns 4,005 shares of the insurance provider’s stock worth $315,000 after buying an additional 144 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have issued reports on AIG shares. Citigroup increased their price target on American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. JPMorgan Chase & Co. cut their target price on American International Group from $97.00 to $86.00 and set a “neutral” rating on the stock in a report on Monday, April 20th. BMO Capital Markets increased their target price on American International Group from $83.00 to $89.00 in a report on Thursday, May 7th. UBS Group increased their target price on American International Group from $92.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, Mizuho increased their target price on American International Group from $84.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $88.06.
American International Group Price Performance
Shares of AIG opened at $75.51 on Friday. American International Group, Inc. has a 12-month low of $71.25 and a 12-month high of $87.46. The business’s fifty day moving average is $76.04 and its 200 day moving average is $77.44. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23. The stock has a market cap of $40.03 billion, a P/E ratio of 13.32, a P/E/G ratio of 0.69 and a beta of 0.52.
American International Group (NYSE:AIG – Get Free Report) last issued its earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.22. American International Group had a return on equity of 10.93% and a net margin of 11.86%.The company had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $7.03 billion. During the same period last year, the business earned $1.17 EPS. Sell-side analysts anticipate that American International Group, Inc. will post 7.99 earnings per share for the current fiscal year.
American International Group Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, June 15th. This is an increase from American International Group’s previous quarterly dividend of $0.45. 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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