NEOS Investment Management LLC Acquires 10,160 Shares of American International Group, Inc. $AIG

NEOS Investment Management LLC raised its holdings in shares of American International Group, Inc. (NYSE:AIG) by 13.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 87,198 shares of the insurance provider’s stock after acquiring an additional 10,160 shares during the quarter. NEOS Investment Management LLC’s holdings in American International Group were worth $6,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Modus Advisors LLC purchased a new position in American International Group during the fourth quarter valued at $27,000. Navalign LLC bought a new stake in American International Group during the fourth quarter valued at about $29,000. Mcguire Capital Advisors Inc. purchased a new stake in American International Group in the fourth quarter worth about $29,000. First Bancorp Inc ME bought a new position in shares of American International Group in the second quarter worth about $30,000. Finally, SHP Wealth Management bought a new position in shares of American International Group in the fourth quarter worth about $34,000. Institutional investors own 90.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AIG. Wells Fargo & Company cut their price objective on American International Group from $89.00 to $85.00 and set an “equal weight” rating for the company in a research note on Monday, August 10th. Barclays raised their target price on shares of American International Group from $80.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Piper Sandler lifted their price target on shares of American International Group from $80.00 to $84.00 and gave the company a “neutral” rating in a report on Monday, August 10th. HSBC dropped their price target on shares of American International Group from $94.00 to $88.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Finally, Royal Bank Of Canada raised their price objective on shares of American International Group from $85.00 to $87.00 and gave the company a “sector perform” rating in a research report on Monday, August 10th. Eight analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $88.37.

American International Group Stock Down 0.9%

NYSE AIG opened at $76.18 on Friday. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $87.29. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. The stock has a market cap of $39.83 billion, a PE ratio of 13.93, a P/E/G ratio of 0.85 and a beta of 0.50. The stock’s 50 day moving average is $77.96 and its 200 day moving average is $76.99.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Friday, August 7th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. The business had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.25 billion. American International Group had a net margin of 11.13% and a return on equity of 11.05%. During the same period last year, the firm posted $1.81 EPS. Research analysts predict that American International Group, Inc. will post 8.02 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. American International Group’s dividend payout ratio is currently 36.56%.

Insiders Place Their Bets

In related news, insider Peter Zaffino sold 200,000 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total transaction of $15,294,000.00. Following the completion of the transaction, the insider directly owned 592,833 shares of the company’s stock, valued at approximately $45,333,939.51. This trade represents a 25.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.

About American International Group

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.