ExodusPoint Capital Management LP increased its stake in American International Group, Inc. (NYSE:AIG – Free Report) by 26.7% during the 4th quarter, HoldingsChannel reports. The firm owned 215,187 shares of the insurance provider’s stock after buying an additional 45,298 shares during the period. ExodusPoint Capital Management LP’s holdings in American International Group were worth $18,409,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in AIG. Capital Research Global Investors boosted its holdings in American International Group by 79.6% in the third quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider’s stock worth $2,241,091,000 after purchasing an additional 12,645,616 shares during the last quarter. Norges Bank purchased a new stake in American International Group in the fourth quarter worth approximately $636,782,000. Vanguard Group Inc. boosted its holdings in American International Group by 11.6% in the third quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider’s stock worth $5,378,635,000 after purchasing an additional 7,117,583 shares during the last quarter. Franklin Resources Inc. boosted its holdings in American International Group by 36.9% in the fourth quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock worth $1,336,147,000 after purchasing an additional 4,210,363 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in American International Group by 7.9% in the third quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock worth $2,045,657,000 after purchasing an additional 1,899,203 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the stock. 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. JPMorgan Chase & Co. decreased their price target on shares of American International Group from $97.00 to $86.00 and set a “neutral” rating on the stock in a research report on Monday, April 20th. HSBC increased 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 report on Monday, May 4th. Barclays increased their price target on shares of American International Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, BMO Capital Markets increased their price target on shares of American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. One 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, American International Group currently has a consensus rating of “Hold” and an average price target of $87.78.
American International Group Stock Up 0.3%
AIG opened at $75.13 on Wednesday. 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 1-year low of $71.25 and a 1-year high of $87.29. The company has a market capitalization of $39.84 billion, a PE ratio of 13.25, a PEG ratio of 0.69 and a beta of 0.52. The firm’s 50 day simple moving average is $76.05 and its two-hundred day simple moving average is $77.39.
American International Group (NYSE:AIG – Get Free Report) last released its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.22. American International Group had a net margin of 11.86% and a return on equity of 10.93%. The business had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $7.03 billion. During the same period last year, the firm earned $1.17 earnings per share. As a group, equities analysts forecast that American International Group, Inc. will post 7.99 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. Stockholders of record on Monday, June 15th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Monday, June 15th. This is a positive change from American International Group’s previous quarterly dividend of $0.45. American International Group’s payout ratio is 35.27%.
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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