Lazard Asset Management LLC lifted its stake in shares of American International Group, Inc. (NYSE:AIG – Free Report) by 28.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 269,081 shares of the insurance provider’s stock after purchasing an additional 60,216 shares during the quarter. Lazard Asset Management LLC’s holdings in American International Group were worth $20,248,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of AIG. Modus Advisors LLC bought a new position in American International Group in the 4th quarter valued at about $27,000. Navalign LLC bought a new stake in shares of American International Group during the 4th quarter worth approximately $29,000. Mcguire Capital Advisors Inc. bought a new stake in shares of American International Group during the 4th quarter worth approximately $29,000. SHP Wealth Management acquired a new stake in shares of American International Group during the 4th quarter worth approximately $34,000. Finally, CENTRAL TRUST Co increased its stake in American International Group by 48.7% in the first quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 151 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.
Analyst Ratings Changes
AIG has been the subject of several research analyst reports. Bank of America lowered their price objective 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. Citigroup raised their target price on American International Group from $85.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, May 4th. HSBC decreased their price target on American International Group from $94.00 to $88.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Weiss Ratings raised American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. Finally, JPMorgan Chase & Co. upped their price objective on American International Group from $86.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $88.22.
American International Group Price Performance
AIG stock opened at $80.89 on Wednesday. The stock has a market cap of $42.89 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 0.73 and a beta of 0.53. 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 company has a 50 day simple moving average of $76.82 and a 200 day simple moving average of $76.47. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $87.29.
American International Group (NYSE:AIG – Get Free Report) last issued its earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.22. The firm had revenue of $6.65 billion for the quarter, compared to analyst estimates 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 quarter last year, the business posted $1.17 earnings per share. Research analysts anticipate that American International Group, Inc. will post 7.97 EPS for the current fiscal year.
American International Group Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were paid a $0.50 dividend. 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%.
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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