Ieq Capital LLC Increases Holdings in American International Group, Inc. $AIG

Ieq Capital LLC increased its position in American International Group, Inc. (NYSE:AIG) by 29.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 65,907 shares of the insurance provider’s stock after buying an additional 15,040 shares during the quarter. Ieq Capital LLC’s holdings in American International Group were worth $4,912,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of AIG. Norges Bank bought a new position in shares of American International Group during the 4th quarter valued at $636,782,000. Danske Bank A S lifted its stake in American International Group by 7.7% in the fourth quarter. Danske Bank A S now owns 351,972 shares of the insurance provider’s stock worth $30,111,000 after purchasing an additional 25,200 shares during the last quarter. Lee Danner & Bass Inc. lifted its stake in American International Group by 194.2% in the first quarter. Lee Danner & Bass Inc. now owns 33,781 shares of the insurance provider’s stock worth $2,542,000 after purchasing an additional 22,300 shares during the last quarter. Swiss National Bank boosted its position in American International Group by 4.3% during the first quarter. Swiss National Bank now owns 1,583,564 shares of the insurance provider’s stock valued at $119,163,000 after buying an additional 65,400 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in American International Group by 4.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,156,343 shares of the insurance provider’s stock valued at $97,445,000 after buying an additional 50,775 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insider Buying and Selling

In other news, insider Peter Zaffino sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total value of $15,294,000.00. Following the completion of the sale, the insider directly owned 592,833 shares of the company’s stock, valued at approximately $45,333,939.51. This trade represents a 25.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AIG. Royal Bank Of Canada lifted their price objective on American International Group from $85.00 to $87.00 and gave the stock a “sector perform” rating in a report on Monday, August 10th. Piper Sandler lifted their price target on American International Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Cantor Fitzgerald lowered their price objective on American International Group from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. The Goldman Sachs Group increased their price objective on American International Group from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods raised their target price on shares of American International Group from $95.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Seven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, American International Group has an average rating of “Hold” and a consensus price target of $88.28.

American International Group Stock Up 0.2%

NYSE AIG opened at $76.30 on Monday. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $87.29. The stock has a market capitalization of $39.90 billion, a PE ratio of 13.95, a PEG ratio of 0.69 and a beta of 0.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61. The business’s 50-day moving average is $77.69 and its 200 day moving average is $76.98.

American International Group (NYSE:AIG) last released its quarterly earnings results on Thursday, August 6th. The insurance provider reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. American International Group had a return on equity of 11.05% and a net margin of 11.13%.The business had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.25 billion. During the same quarter in the prior year, the company posted $1.81 EPS. Sell-side analysts forecast that American International Group, Inc. will post 8.02 earnings per share for the current year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, September 16th. American International Group’s dividend payout ratio is currently 36.56%.

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.