AustralianSuper Pty Ltd Purchases 143,722 Shares of American International Group, Inc. $AIG

AustralianSuper Pty Ltd lifted its position in American International Group, Inc. (NYSE:AIG) by 14.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,115,734 shares of the insurance provider’s stock after acquiring an additional 143,722 shares during the period. AustralianSuper Pty Ltd’s holdings in American International Group were worth $95,451,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AIG. Westfuller Advisors LLC bought a new position in American International Group during the 3rd quarter valued at about $26,000. Atlantic Union Bankshares Corp boosted its position in shares of American International Group by 7,100.0% during the third quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock valued at $28,000 after buying an additional 355 shares during the period. Navalign LLC purchased a new position in shares of American International Group during the fourth quarter valued at approximately $29,000. Eastern Bank grew its stake in shares of American International Group by 2,473.3% during the third quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock valued at $30,000 after buying an additional 371 shares during the last quarter. Finally, Aventura Private Wealth LLC purchased a new stake in shares of American International Group in the fourth quarter worth approximately $39,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Trading Down 0.1%

AIG opened at $75.67 on Friday. The stock’s fifty day moving average is $76.28 and its two-hundred day moving average is $77.68. The company has a market capitalization of $40.12 billion, a P/E ratio of 13.35, a PEG ratio of 0.72 and a beta of 0.53. American International Group, Inc. has a 52 week low of $71.25 and a 52 week high of $87.46. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23.

American International Group (NYSE:AIG) last issued its earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.22. American International Group had a return on equity of 10.93% and a net margin of 11.86%.The business had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $7.03 billion. During the same period in the prior year, the business earned $1.17 EPS. Analysts forecast that American International Group, Inc. will post 7.95 earnings per share for the current year.

American International Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. This is a boost from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, June 15th. American International Group’s payout ratio is currently 31.75%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods boosted their price objective on American International Group from $97.00 to $98.00 and gave the company an “outperform” rating in a report on Friday, May 8th. JPMorgan Chase & Co. reduced their target price on American International Group from $97.00 to $86.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. Cantor Fitzgerald boosted their target price on shares of American International Group from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Morgan Stanley cut their price target on shares of American International Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, April 6th. Finally, Piper Sandler reduced their price target on shares of American International Group from $95.00 to $88.00 and set an “overweight” rating on the stock in a research note on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, American International Group has an average rating of “Hold” and an average price target of $88.06.

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.