Trust Co. of Toledo NA OH Acquires Shares of 521 American International Group, Inc. $AIG

Trust Co. of Toledo NA OH acquired a new stake in shares of American International Group, Inc. (NYSE:AIG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 521 shares of the insurance provider’s stock, valued at approximately $45,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sachetta LLC raised its holdings in shares of American International Group by 194.5% in the first quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock worth $33,000 after buying an additional 249 shares during the period. GFG Capital LLC purchased a new stake in shares of American International Group in the second quarter worth approximately $33,000. Barrett & Company Inc. purchased a new stake in shares of American International Group in the second quarter worth approximately $35,000. Hemington Wealth Management raised its holdings in shares of American International Group by 42.8% in the first quarter. Hemington Wealth Management now owns 474 shares of the insurance provider’s stock worth $41,000 after buying an additional 142 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of American International Group in the second quarter worth approximately $42,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Stock Up 0.7%

Shares of NYSE AIG opened at $81.84 on Tuesday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $45.34 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 0.86 and a beta of 0.68. The stock’s fifty day simple moving average is $79.88 and its two-hundred day simple moving average is $81.63. American International Group, Inc. has a 12-month low of $69.24 and a 12-month high of $88.07.

American International Group (NYSE:AIG) last announced its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.21. The business had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.81 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same quarter last year, the firm earned $1.16 EPS. As a group, analysts expect that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. American International Group’s dividend payout ratio (DPR) is presently 34.09%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald upgraded American International Group to a “hold” rating in a report on Tuesday, August 12th. Piper Sandler reduced their price objective on American International Group from $96.00 to $88.00 and set an “overweight” rating on the stock in a report on Thursday, October 2nd. Wall Street Zen upgraded American International Group from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Evercore ISI raised their price objective on American International Group from $89.00 to $90.00 and gave the stock an “in-line” rating in a report on Wednesday, October 1st. Finally, Citigroup initiated coverage on American International Group in a report on Wednesday, August 13th. They set a “neutral” rating and a $85.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $89.53.

American International Group Company Profile

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers’ compensation, excess casualty, and crisis management insurance products; and professional liability insurance.