Danske Bank A S grew its stake in shares of American International Group, Inc. (NYSE:AIG – Free Report) by 4.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 345,819 shares of the insurance provider’s stock after buying an additional 13,500 shares during the period. Danske Bank A S’s holdings in American International Group were worth $25,774,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in American International Group by 39.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock valued at $1,400,613,000 after purchasing an additional 4,661,246 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of American International Group by 36.9% in the 4th 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 in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of American International Group by 22.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock valued at $805,529,000 after purchasing an additional 1,846,979 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of American International Group by 6.1% during the 1st quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider’s stock valued at $619,862,000 after buying an additional 474,035 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in American International Group by 10.8% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,482,558 shares of the insurance provider’s stock worth $640,133,000 after buying an additional 731,802 shares during the last quarter. 90.60% of the stock is owned by institutional investors.
American International Group Price Performance
AIG opened at $75.81 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61. The stock’s 50 day simple moving average is $77.67 and its 200 day simple moving average is $76.96. The firm has a market cap of $39.64 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 0.69 and a beta of 0.53. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $87.29.
American International Group Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Wednesday, September 16th. American International Group’s dividend payout ratio is currently 36.56%.
Analyst Upgrades and Downgrades
AIG has been the topic of a number of recent research reports. Barclays increased their price target on shares of American International Group from $80.00 to $81.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Wells Fargo & Company cut their price objective on shares of American International Group from $89.00 to $85.00 and set an “equal weight” rating for the company in a research note on Monday, August 10th. Morgan Stanley reduced their target price on shares of American International Group from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 12th. Cantor Fitzgerald decreased their target price on shares of American International Group from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Piper Sandler boosted their price target on shares of American International Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Seven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $88.28.
Check Out Our Latest Report on American International Group
Insider Buying and Selling
In other American International Group news, insider Peter Zaffino sold 36,829 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $76.14, for a total transaction of $2,804,160.06. Following the completion of the sale, the insider owned 556,004 shares of the company’s stock, valued at $42,334,144.56. This represents a 6.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by corporate insiders.
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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