Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of American International Group, Inc. (NYSE:AIG – Free Report) by 5.1% in the 1st quarter, HoldingsChannel reports. The firm owned 1,249,855 shares of the insurance provider’s stock after selling 67,448 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in American International Group were worth $94,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its stake in shares of American International Group by 129.9% during the 4th quarter. Nordea Investment Management AB now owns 136,069 shares of the insurance provider’s stock worth $11,695,000 after buying an additional 76,874 shares during the last quarter. Cypress Wealth Services LLC acquired a new position in American International Group in the 4th quarter valued at about $1,269,000. Board of the Pension Protection Fund grew its stake in American International Group by 296.1% in the 4th quarter. Board of the Pension Protection Fund now owns 20,200 shares of the insurance provider’s stock valued at $1,728,000 after buying an additional 15,100 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in American International Group by 20.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 88,932 shares of the insurance provider’s stock valued at $7,608,000 after acquiring an additional 15,116 shares during the period. Finally, Wellington Management Group LLP raised its holdings in American International Group by 7.9% in the 3rd quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock valued at $2,045,657,000 after acquiring an additional 1,899,203 shares during the period. 90.60% of the stock is owned by institutional investors.
American International Group Stock Performance
NYSE AIG traded up $0.02 during trading on Friday, reaching $79.13. The company’s stock had a trading volume of 2,016,479 shares, compared to its average volume of 4,120,387. The firm has a 50 day moving average price of $76.22 and a 200 day moving average price of $76.99. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $87.29. The firm has a market capitalization of $41.96 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 0.72 and a beta of 0.53. 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 Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, June 15th. This is a positive change from American International Group’s previous quarterly dividend of $0.45. American International Group’s dividend payout ratio is currently 35.27%.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on AIG shares. Mizuho boosted their price objective on American International Group from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Thursday. JPMorgan Chase & Co. lowered their target price on American International Group from $97.00 to $86.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. Keefe, Bruyette & Woods dropped their price target on American International Group from $98.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday. BMO Capital Markets boosted their price target on American International Group from $83.00 to $89.00 in a research note on Thursday, May 7th. Finally, UBS Group boosted their price target on American International Group from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $88.44.
Read Our Latest Stock Report on American International Group
American International Group News Summary
Here are the key news stories impacting American International Group this week:
- Positive Sentiment: Cantor Fitzgerald upgraded AIG from neutral to overweight and lifted its price target to $92, citing continued Q1 momentum. AIG raised to overweight at Cantor based on Q1 momentum continuing
- Positive Sentiment: Mizuho raised its price target on AIG to $89 from $86, reflecting higher valuation expectations even while keeping a neutral rating. American International Group (NYSE:AIG) Price Target Raised to $89.00 at Mizuho
- Positive Sentiment: Wells Fargo also increased its target on AIG to $89 from $85, suggesting analysts see further upside from current levels. Benzinga report on Wells Fargo target increase
- Neutral Sentiment: Barclays reaffirmed its hold rating on AIG, which does not add to the bullish case but shows the stock still has analyst attention. Barclays Reaffirms Their Hold Rating on American International Group (AIG)
- Neutral Sentiment: UBS issued a positive forecast for AIG, but no specific target change or upgrade was detailed in the provided item. UBS Group Issues Positive Forecast for American International Group (NYSE:AIG) Stock Price
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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