The Manufacturers Life Insurance Company raised its stake in American International Group Inc (NYSE:AIG) by 31.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 931,599 shares of the insurance provider’s stock after acquiring an additional 223,174 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.11% of American International Group worth $22,592,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in AIG. Mutual Advisors LLC grew its stake in shares of American International Group by 15.4% during the fourth quarter. Mutual Advisors LLC now owns 5,509 shares of the insurance provider’s stock valued at $283,000 after purchasing an additional 736 shares during the last quarter. KBC Group NV increased its stake in shares of American International Group by 8.8% in the 4th quarter. KBC Group NV now owns 299,707 shares of the insurance provider’s stock valued at $15,384,000 after buying an additional 24,185 shares during the period. MUFG Securities EMEA plc raised its position in shares of American International Group by 4.2% during the fourth quarter. MUFG Securities EMEA plc now owns 239,420 shares of the insurance provider’s stock worth $12,289,000 after acquiring an additional 9,633 shares during the last quarter. Landscape Capital Management L.L.C. lifted its stake in shares of American International Group by 399.5% during the fourth quarter. Landscape Capital Management L.L.C. now owns 31,701 shares of the insurance provider’s stock valued at $1,627,000 after acquiring an additional 25,355 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in American International Group by 0.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 645,716 shares of the insurance provider’s stock valued at $33,145,000 after acquiring an additional 5,436 shares during the last quarter. 90.13% of the stock is owned by institutional investors.
AIG stock opened at $29.71 on Monday. American International Group Inc has a 1-year low of $16.07 and a 1-year high of $58.66. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.58. The firm has a market cap of $25.59 billion, a PE ratio of 5.98, a P/E/G ratio of 1.01 and a beta of 1.42. The business’s 50-day moving average price is $30.78 and its two-hundred day moving average price is $37.84.
American International Group (NYSE:AIG) last released its quarterly earnings data on Monday, May 4th. The insurance provider reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.72). American International Group had a net margin of 8.59% and a return on equity of 4.31%. The business had revenue of $10.92 billion for the quarter, compared to the consensus estimate of $11.58 billion. During the same quarter last year, the firm earned $1.58 EPS. On average, analysts forecast that American International Group Inc will post 2.96 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend is Friday, June 12th. American International Group’s payout ratio is currently 27.89%.
A number of research analysts have issued reports on the stock. TheStreet downgraded shares of American International Group from a “b-” rating to a “c+” rating in a research report on Wednesday, March 11th. Wells Fargo & Co cut their price objective on shares of American International Group from $66.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. Piper Sandler lowered their target price on shares of American International Group from $45.00 to $29.00 and set an “overweight” rating for the company in a report on Monday, April 6th. Credit Suisse Group reissued a “hold” rating on shares of American International Group in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. reduced their price target on American International Group from $49.00 to $41.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 5th. They noted that the move was a valuation call. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. American International Group currently has a consensus rating of “Hold” and a consensus target price of $44.23.
About American International Group
American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, crop, and marine insurance.
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