American International Group, Inc. $AIG Shares Acquired by Truist Financial Corp

Truist Financial Corp boosted its holdings in shares of American International Group, Inc. (NYSE:AIG) by 11.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 77,757 shares of the insurance provider’s stock after acquiring an additional 7,997 shares during the period. Truist Financial Corp’s holdings in American International Group were worth $6,655,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Pinnacle Associates Ltd. raised its holdings in American International Group by 1.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 7,706 shares of the insurance provider’s stock valued at $670,000 after acquiring an additional 122 shares during the last quarter. Miracle Mile Advisors LLC increased its holdings in shares of American International Group by 1.6% during the 1st quarter. Miracle Mile Advisors LLC now owns 8,094 shares of the insurance provider’s stock worth $704,000 after buying an additional 124 shares during the last quarter. Western Pacific Wealth Management LP increased its holdings in shares of American International Group by 2.3% during the 1st quarter. Western Pacific Wealth Management LP now owns 5,673 shares of the insurance provider’s stock worth $493,000 after buying an additional 125 shares during the last quarter. Aaron Wealth Advisors LLC increased its stake in American International Group by 2.4% during the second quarter. Aaron Wealth Advisors LLC now owns 5,466 shares of the insurance provider’s stock worth $468,000 after acquiring an additional 126 shares during the last quarter. Finally, Montag A & Associates Inc. increased its stake in American International Group by 0.7% during the first quarter. Montag A & Associates Inc. now owns 17,788 shares of the insurance provider’s stock worth $1,546,000 after acquiring an additional 130 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Cfra Research upgraded American International Group to a “moderate buy” rating in a research note on Monday, August 11th. Evercore ISI increased their target price on shares of American International Group from $89.00 to $90.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 1st. William Blair raised shares of American International Group to a “strong-buy” rating in a research report on Friday, August 1st. Cantor Fitzgerald raised shares of American International Group to a “hold” rating in a research report on Tuesday, August 12th. Finally, Citigroup started coverage on American International Group in a report on Wednesday, August 13th. They issued a “neutral” rating and a $85.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.25.

American International Group Price Performance

Shares of NYSE AIG opened at $83.00 on Tuesday. The firm has a market cap of $45.98 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 0.87 and a beta of 0.68. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a fifty-two week low of $69.24 and a fifty-two week high of $88.07. The business has a 50 day moving average price of $79.37 and a two-hundred day moving average price of $81.67.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.21. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.81 billion. American International Group had a net margin of 11.51% and a return on equity of 7.88%. During the same period last year, the business earned $1.16 EPS. Sell-side analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a $0.45 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. American International Group’s dividend payout ratio (DPR) is presently 34.09%.

American International Group Company Profile

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers’ compensation, excess casualty, and crisis management insurance products; and professional liability insurance.