Sterling Capital Management LLC boosted its stake in shares of American International Group, Inc. (NYSE:AIG – Free Report) by 897.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,663 shares of the insurance provider’s stock after purchasing an additional 15,892 shares during the quarter. Sterling Capital Management LLC’s holdings in American International Group were worth $1,329,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. Modus Advisors LLC bought a new stake in shares of American International Group during the 4th quarter worth about $27,000. Navalign LLC bought a new position in American International Group in the 4th quarter valued at about $29,000. Mcguire Capital Advisors Inc. bought a new position in American International Group in the 4th quarter valued at about $29,000. SHP Wealth Management acquired a new stake in American International Group during the fourth quarter worth approximately $34,000. Finally, CENTRAL TRUST Co boosted its holdings in shares of American International Group by 48.7% during the first quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 151 shares during the period. 90.60% of the stock is owned by institutional investors.
American International Group Trading Down 0.4%
Shares of NYSE:AIG opened at $75.25 on Tuesday. The company has a market capitalization of $39.90 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.69 and a beta of 0.52. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $87.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65. The business’s 50 day simple moving average is $75.72 and its 200 day simple moving average is $77.31.
American International Group Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were given a dividend of $0.50 per share. This is a positive change from American International Group’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Monday, June 15th. American International Group’s dividend payout ratio (DPR) is currently 35.27%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on AIG shares. Bank of America lowered their target price on American International Group from $80.00 to $79.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. HSBC boosted their price target on American International Group from $89.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Citigroup increased their price objective on American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Cantor Fitzgerald lifted their target price on American International Group from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. reduced their target price on shares of American International Group from $97.00 to $86.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $87.78.
View Our Latest Analysis on American International Group
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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