Easterly Investment Partners LLC trimmed its holdings in shares of American International Group, Inc. (NYSE:AIG – Free Report) by 43.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 38,337 shares of the insurance provider’s stock after selling 29,137 shares during the quarter. Easterly Investment Partners LLC’s holdings in American International Group were worth $3,280,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in AIG. Atlantic Union Bankshares Corp raised its position 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 worth $28,000 after purchasing an additional 355 shares during the period. Navalign LLC purchased a new stake in American International Group in the 4th quarter worth about $29,000. Aventura Private Wealth LLC purchased a new stake in American International Group in the 4th quarter worth about $39,000. JPL Wealth Management LLC purchased a new stake in American International Group in the 3rd quarter worth about $39,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in American International Group in the 4th quarter worth about $52,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on AIG. Wells Fargo & Company reduced their price objective on shares of American International Group from $86.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 6th. The Goldman Sachs Group increased their price objective on shares of American International Group from $87.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. BMO Capital Markets increased their price objective on shares of American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. Piper Sandler dropped their target price on shares of American International Group from $95.00 to $88.00 and set an “overweight” rating on the stock in a research note on Thursday, February 12th. Finally, HSBC upped their target price 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 research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $88.06.
American International Group Price Performance
NYSE AIG opened at $74.26 on Monday. The company has a market cap of $39.37 billion, a PE ratio of 13.10, a P/E/G ratio of 0.68 and a beta of 0.52. American International Group, Inc. has a 52-week low of $71.25 and a 52-week high of $87.46. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. The firm’s 50 day moving average price is $76.12 and its 200-day moving average price is $77.57.
American International Group (NYSE:AIG – Get Free Report) last announced its earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.22. The company had revenue of $6.65 billion during 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 last year, the firm earned $1.17 earnings per share. Sell-side analysts forecast that American International Group, Inc. will post 7.97 EPS for the current fiscal year.
American International Group Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.7%. This is a positive change from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date is Monday, June 15th. American International Group’s payout ratio is 31.75%.
American International Group Company 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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