Jupiter Topco LLC Purchases New Position in American International Group, Inc. $AIG

Jupiter Topco LLC bought a new stake in shares of American International Group, Inc. (NYSE:AIG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 69,416 shares of the insurance provider’s stock, valued at approximately $5,174,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in shares of American International Group in the fourth quarter worth about $636,782,000. Bank of New York Mellon Corp purchased a new stake in shares of American International Group in the second quarter worth approximately $496,890,000. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of American International Group in the second quarter worth about $464,539,000. Price T Rowe Associates Inc. MD grew its stake in American International Group by 39.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock worth $1,400,613,000 after acquiring an additional 4,661,246 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in American International Group by 36.9% during the 4th quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock valued at $1,336,147,000 after purchasing an additional 4,210,363 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

Shares of AIG stock opened at $76.38 on Tuesday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. The company has a market cap of $39.94 billion, a PE ratio of 13.96, a PEG ratio of 0.70 and a beta of 0.52. American International Group, Inc. has a 12-month low of $71.25 and a 12-month high of $87.29. The business’s fifty day simple moving average is $77.92 and its 200-day simple moving average is $77.04.

American International Group (NYSE:AIG) last announced its earnings results on Thursday, August 6th. The insurance provider reported $2.00 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same period in the previous year, the business earned $1.81 EPS. Analysts expect that American International Group, Inc. will post 8.02 earnings per share for the current fiscal year.

American International Group Announces Dividend

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

Insiders Place Their Bets

In other American International Group news, insider Peter Zaffino sold 36,829 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $76.14, for a total transaction of $2,804,160.06. Following the sale, the insider owned 556,004 shares of the company’s stock, valued at approximately $42,334,144.56. The trade was a 6.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on AIG. Royal Bank Of Canada increased their target price on shares of American International Group from $85.00 to $87.00 and gave the stock a “sector perform” rating in a report on Monday, August 10th. Keefe, Bruyette & Woods upped their price target on shares of American International Group from $95.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. increased their price objective on shares of American International Group from $86.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. UBS Group lifted their price objective on shares of American International Group from $94.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Finally, Wells Fargo & Company lowered their target price on American International Group from $89.00 to $85.00 and set an “equal weight” rating for the company in a report on Monday, August 10th. Seven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $88.28.

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.