SEB Asset Management AB purchased a new stake in shares of American International Group, Inc. (NYSE:AIG – Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 120,812 shares of the insurance provider’s stock, valued at approximately $9,091,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in AIG. Modus Advisors LLC bought a new position in American International Group in the 4th quarter valued at approximately $27,000. Navalign LLC acquired a new stake in American International Group during the 4th quarter worth approximately $29,000. Mcguire Capital Advisors Inc. bought a new stake in American International Group during the 4th quarter worth approximately $29,000. SHP Wealth Management acquired a new position in American International Group in the 4th quarter valued at approximately $34,000. Finally, CENTRAL TRUST Co lifted 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 purchasing an additional 151 shares during the period. 90.60% of the stock is currently owned by institutional investors.
American International Group Price Performance
Shares of NYSE AIG opened at $80.16 on Wednesday. The firm has a market capitalization of $42.50 billion, a P/E ratio of 14.14, a P/E/G ratio of 0.73 and a beta of 0.53. The firm’s 50-day moving average price is $76.57 and its 200-day moving average price is $76.57. 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, Inc. has a 1-year low of $71.25 and a 1-year high of $87.29.
American International Group Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Monday, June 15th. This is a positive change from American International Group’s previous quarterly dividend of $0.45. American International Group’s payout ratio is currently 35.27%.
Analysts Set New Price Targets
A number of analysts recently weighed in on AIG shares. UBS Group increased their price objective on American International Group from $94.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Barclays upped their price target on American International Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. increased their price target on American International Group from $86.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday. Mizuho raised their price objective on American International Group from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Finally, Weiss Ratings raised American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. One equities 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $88.22.
Check Out Our Latest Stock Report on AIG
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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