Ameriprise Financial Inc. Increases Stock Holdings in American International Group, Inc. $AIG

Ameriprise Financial Inc. increased its stake in shares of American International Group, Inc. (NYSE:AIG) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,446,256 shares of the insurance provider’s stock after buying an additional 126,638 shares during the quarter. Ameriprise Financial Inc. owned 1.01% of American International Group worth $427,749,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Westfuller Advisors LLC bought a new position in shares of American International Group during the third quarter valued at about $26,000. Atlantic Union Bankshares Corp boosted its holdings in American International Group by 7,100.0% during the third quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 355 shares during the last quarter. Eastern Bank grew its position in American International Group by 2,473.3% in the 3rd quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 371 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in American International Group in the 2nd quarter valued at about $32,000. Finally, Motco increased its stake in American International Group by 950.0% in the 3rd quarter. Motco now owns 420 shares of the insurance provider’s stock valued at $33,000 after buying an additional 380 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AIG shares. UBS Group cut their target price on American International Group from $94.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. HSBC increased their price target on American International Group from $86.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Bank of America cut their price objective on American International Group from $89.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, January 16th. Wells Fargo & Company upped their price objective on American International Group from $85.00 to $87.00 and gave the company an “equal weight” rating in a research note on Friday, February 13th. Finally, Piper Sandler decreased their target price on American International Group from $95.00 to $88.00 and set an “overweight” rating for the company in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $88.22.

American International Group Trading Up 0.3%

Shares of AIG stock opened at $76.72 on Monday. The company has a 50 day moving average of $76.71 and a 200-day moving average of $78.72. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 12-month low of $71.25 and a 12-month high of $88.07. The firm has a market cap of $41.16 billion, a P/E ratio of 14.15, a PEG ratio of 0.59 and a beta of 0.58.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Tuesday, February 10th. The insurance provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.90 by $0.06. American International Group had a return on equity of 9.79% and a net margin of 11.56%.The business had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.99 billion. During the same quarter in the prior year, the business earned $1.30 earnings per share. Sell-side analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be paid a $0.45 dividend. The ex-dividend date is Monday, March 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. American International Group’s payout ratio is presently 33.21%.

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.