American International Group, Inc. $AIG Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its position in shares of American International Group, Inc. (NYSE:AIG) by 55.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 134,763 shares of the insurance provider’s stock after acquiring an additional 48,049 shares during the quarter. CIBC Asset Management Inc’s holdings in American International Group were worth $11,529,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AIG. Vanguard Group Inc. lifted its stake in American International Group by 11.6% in the 3rd quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider’s stock valued at $5,378,635,000 after buying an additional 7,117,583 shares in the last quarter. Capital Research Global Investors lifted its stake in American International Group by 79.6% in the 3rd quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider’s stock valued at $2,241,091,000 after buying an additional 12,645,616 shares in the last quarter. Wellington Management Group LLP lifted its stake in American International Group by 7.9% in the 3rd quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock valued at $2,045,657,000 after buying an additional 1,899,203 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in American International Group by 4.3% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 12,111,405 shares of the insurance provider’s stock valued at $951,230,000 after buying an additional 499,330 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in American International Group by 22.0% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock valued at $805,529,000 after buying an additional 1,846,979 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AIG. BMO Capital Markets raised their price target on shares of American International Group from $83.00 to $89.00 in a research note on Thursday, May 7th. Piper Sandler decreased 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. Wells Fargo & Company decreased their target price on shares of American International Group from $86.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 6th. HSBC raised their target price on shares of American International Group from $89.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. decreased their target price on shares of 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. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $88.06.

American International Group Stock Up 2.8%

American International Group stock opened at $75.51 on Friday. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.46. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a 50 day moving average price of $76.04 and a 200 day moving average price of $77.44. The company has a market capitalization of $40.03 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 0.67 and a beta of 0.52.

American International Group (NYSE:AIG) last posted its earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.22. American International Group had a net margin of 11.86% and a return on equity of 10.93%. The firm had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $7.03 billion. During the same quarter last year, the firm earned $1.17 EPS. Research analysts expect that American International Group, Inc. will post 7.99 earnings per share for the current year.

American International Group Increases Dividend

The firm 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 $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.6%. This is a positive change from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date is Monday, June 15th. American International Group’s payout ratio is presently 31.75%.

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.