iA Global Asset Management Inc. Raises Holdings in American International Group, Inc. $AIG

iA Global Asset Management Inc. increased its position in American International Group, Inc. (NYSE:AIG) by 30.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 49,000 shares of the insurance provider’s stock after purchasing an additional 11,390 shares during the period. iA Global Asset Management Inc.’s holdings in American International Group were worth $3,848,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in AIG. Vise Technologies Inc. bought a new position in shares of American International Group in the second quarter valued at approximately $858,000. Jupiter Asset Management Ltd. purchased a new stake in American International Group in the 2nd quarter worth approximately $6,127,000. Patton Fund Management Inc. purchased a new stake in American International Group in the 2nd quarter worth approximately $232,000. Meeder Asset Management Inc. boosted its holdings in American International Group by 88.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 58,314 shares of the insurance provider’s stock valued at $4,580,000 after purchasing an additional 27,431 shares during the period. Finally, Allstate Corp purchased a new position in shares of American International Group during the 3rd quarter valued at $1,689,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AIG has been the topic of a number of recent analyst reports. Piper Sandler increased their price objective on American International Group from $88.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, December 22nd. Wells Fargo & Company raised their price target on American International Group from $83.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, January 13th. Barclays cut their price objective on American International Group from $88.00 to $81.00 and set an “equal weight” rating for the company in a report on Thursday, January 8th. HSBC decreased their price objective on shares of American International Group from $91.00 to $86.00 and set a “buy” rating on the stock in a research report on Friday, January 16th. Finally, TD Cowen lifted their target price on shares of American International Group from $86.00 to $90.00 and gave the company a “hold” rating in a research report on Tuesday, December 16th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $87.68.

American International Group Stock Performance

NYSE:AIG opened at $72.23 on Friday. The company has a market capitalization of $38.97 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 0.75 and a beta of 0.62. The business has a 50 day moving average of $79.12 and a 200 day moving average of $79.42. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.32 and a quick ratio of 1.32. American International Group, Inc. has a 1-year low of $71.25 and a 1-year high of $88.07.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $2.20 EPS for the quarter, topping the consensus estimate of $1.57 by $0.63. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.82 billion. American International Group had a net margin of 11.89% and a return on equity of 9.09%. During the same period last year, the firm posted $1.23 earnings per share. On average, sell-side analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.5%. The ex-dividend date was Tuesday, December 16th. American International Group’s dividend payout ratio is presently 32.73%.

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.