AustralianSuper Pty Ltd Sells 110,743 Shares of American International Group, Inc. $AIG

AustralianSuper Pty Ltd reduced its position in shares of American International Group, Inc. (NYSE:AIG) by 10.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 972,012 shares of the insurance provider’s stock after selling 110,743 shares during the quarter. AustralianSuper Pty Ltd owned 0.18% of American International Group worth $76,342,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in American International Group during the second quarter valued at approximately $787,724,000. Viking Global Investors LP bought a new position in American International Group in the second quarter worth approximately $155,413,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of American International Group by 3,745.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 929,330 shares of the insurance provider’s stock worth $79,541,000 after acquiring an additional 905,164 shares during the last quarter. Franklin Resources Inc. grew its position in shares of American International Group by 6.1% during the 2nd quarter. Franklin Resources Inc. now owns 12,536,144 shares of the insurance provider’s stock valued at $1,072,969,000 after acquiring an additional 716,209 shares during the period. Finally, McElhenny Sheffield Capital Management LLC bought a new stake in shares of American International Group during the 2nd quarter valued at $53,579,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AIG. Evercore ISI lowered their target price on American International Group from $90.00 to $85.00 in a research report on Friday, January 23rd. TD Cowen raised their price objective on American International Group from $86.00 to $90.00 and gave the stock a “hold” rating in a research note on Tuesday, December 16th. Keefe, Bruyette & Woods lifted their price objective on American International Group from $91.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Piper Sandler boosted their price objective on American International Group from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, December 22nd. Finally, The Goldman Sachs Group raised their target price on shares of American International Group from $81.00 to $83.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat, American International Group currently has an average rating of “Hold” and a consensus price target of $87.42.

American International Group Price Performance

AIG stock opened at $73.39 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.32 and a current ratio of 1.32. The company’s fifty day moving average price is $78.96 and its 200-day moving average price is $79.21. American International Group, Inc. has a one year low of $71.25 and a one year high of $88.07. The company has a market capitalization of $39.60 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 0.56 and a beta of 0.62.

American International Group (NYSE:AIG) last posted its earnings results on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.63. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.82 billion. American International Group had a net margin of 11.89% and a return on equity of 9.09%. During the same period last year, the company posted $1.23 earnings per share. On average, equities analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Tuesday, December 16th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Tuesday, December 16th. American International Group’s payout ratio is currently 32.73%.

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.