AIA Group Ltd Reduces Stock Holdings in American International Group, Inc. $AIG

AIA Group Ltd reduced its position in American International Group, Inc. (NYSE:AIG) by 18.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,518 shares of the insurance provider’s stock after selling 11,906 shares during the quarter. AIA Group Ltd’s holdings in American International Group were worth $4,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in AIG. Vanguard Group Inc. lifted its position in shares of American International Group by 11.6% during 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 during the last quarter. Capital Research Global Investors increased its holdings 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 worth $2,241,091,000 after acquiring an additional 12,645,616 shares during the last quarter. Wellington Management Group LLP raised 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 acquiring an additional 1,899,203 shares during the period. Franklin Resources Inc. lifted its holdings in American International Group by 6.1% during the second quarter. Franklin Resources Inc. now owns 12,536,144 shares of the insurance provider’s stock valued at $1,072,969,000 after purchasing an additional 716,209 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its holdings in American International Group by 4.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 12,111,405 shares of the insurance provider’s stock valued at $951,230,000 after purchasing an additional 499,330 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors.

American International Group Trading Down 0.8%

Shares of AIG stock opened at $73.77 on Friday. The company has a market capitalization of $39.58 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 0.57 and a beta of 0.58. American International Group, Inc. has a 52-week low of $71.25 and a 52-week high of $88.07. The business’s fifty day moving average is $76.39 and its 200 day moving average is $78.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61.

American International Group (NYSE:AIG) last released its quarterly earnings results on Thursday, February 12th. The insurance provider reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.06. The firm had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.99 billion. American International Group had a return on equity of 9.79% and a net margin of 11.56%.During the same quarter last year, the firm posted $1.30 EPS. On average, equities research analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Monday, March 16th. American International Group’s dividend payout ratio (DPR) is currently 33.21%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AIG shares. Royal Bank Of Canada began coverage on shares of American International Group in a research note on Tuesday, November 25th. They issued a “sector perform” rating and a $85.00 target price for the company. Piper Sandler dropped 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. TD Cowen raised their price objective on shares of American International Group from $86.00 to $90.00 and gave the stock a “hold” rating in a report on Tuesday, December 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of American International Group in a research note on Monday, December 29th. Finally, The Goldman Sachs Group upgraded American International Group from a “neutral” rating to a “buy” rating and set a $90.00 target price on the stock in a research report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, American International Group has a consensus rating of “Hold” and an average price target of $88.17.

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.