First Trust Advisors LP Raises Stock Holdings in American International Group, Inc. $AIG

First Trust Advisors LP raised its stake in shares of American International Group, Inc. (NYSE:AIG) by 38.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 754,064 shares of the insurance provider’s stock after acquiring an additional 210,082 shares during the period. First Trust Advisors LP’s holdings in American International Group were worth $59,224,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AIG. Westfuller Advisors LLC purchased a new position in shares of American International Group during the third quarter valued at approximately $26,000. Atlantic Union Bankshares Corp boosted its holdings in American International Group by 7,100.0% in the third quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 355 shares during the last quarter. Eastern Bank boosted its holdings in American International Group by 2,473.3% in the third quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 371 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in American International Group in the 2nd quarter worth approximately $32,000. Finally, Motco grew its position in American International Group by 950.0% in the 3rd quarter. Motco now owns 420 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 380 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AIG shares. Wells Fargo & Company increased their price target on American International Group from $85.00 to $87.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. HSBC upped their price objective on American International Group from $86.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Weiss Ratings reissued a “buy (b-)” rating on shares of American International Group in a report on Monday, December 29th. Bank of America dropped their target price on American International Group from $89.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, January 16th. Finally, Barclays reduced their price target on shares of American International Group from $81.00 to $79.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, American International Group currently has an average rating of “Hold” and an average target price of $87.95.

American International Group Price Performance

Shares of American International Group stock opened at $78.07 on Wednesday. The stock has a market cap of $41.89 billion, a P/E ratio of 14.40, a P/E/G ratio of 0.59 and a beta of 0.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61. The stock’s fifty day moving average is $77.20 and its 200 day moving average is $78.83. American International Group, Inc. has a one year low of $71.25 and a one year high of $88.07.

American International Group (NYSE:AIG) last released its quarterly earnings results on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.06. The business had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.99 billion. American International Group had a return on equity of 9.79% and a net margin of 11.56%.During the same quarter in the previous year, the company posted $1.30 earnings per share. Sell-side analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, March 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. American International Group’s payout ratio is 33.21%.

American International Group 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.