Cullen Capital Management LLC acquired a new position in American International Group, Inc. (NYSE:AIG – Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 494,273 shares of the insurance provider’s stock, valued at approximately $42,285,000. Cullen Capital Management LLC owned 0.09% of American International Group as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Caprock Group LLC acquired a new position in shares of American International Group in the third quarter worth about $3,054,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of American International Group in the third quarter worth about $2,257,000. Nordea Investment Management AB raised its position in shares of American International Group by 129.9% in the fourth quarter. Nordea Investment Management AB now owns 136,069 shares of the insurance provider’s stock worth $11,695,000 after acquiring an additional 76,874 shares during the period. Munich Reinsurance Co Stock Corp in Munich acquired a new position in shares of American International Group in the third quarter worth about $77,054,000. Finally, Cypress Wealth Services LLC acquired a new position in shares of American International Group in the fourth quarter worth about $1,269,000. Institutional investors and hedge funds own 90.60% of the company’s stock.
Analyst Upgrades and Downgrades
AIG has been the subject of a number of analyst reports. UBS Group upped their price objective on shares of American International Group from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Cantor Fitzgerald upped their price objective on shares of American International Group from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Mizuho upped their price objective on shares of American International Group from $84.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. The Goldman Sachs Group reduced their price target on shares of American International Group from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 8th. Finally, Bank of America reduced their price target on shares of American International Group from $80.00 to $79.00 and set a “neutral” rating for the company in a research report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, American International Group presently has a consensus rating of “Hold” and an average price target of $87.78.
American International Group Stock Up 0.4%
AIG opened at $75.60 on Friday. American International Group, Inc. has a twelve month low of $71.25 and a twelve month high of $87.29. 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 company has a 50-day moving average price of $76.07 and a 200 day moving average price of $77.38. The company has a market cap of $40.08 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 0.69 and a beta of 0.52.
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 firm had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $7.03 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. Sell-side analysts expect 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 dividend of $0.50 per share. This is a boost from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date is Monday, June 15th. This represents a $2.00 annualized dividend and a dividend yield of 2.6%. 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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