AIA Group Ltd Lowers Stake in American International Group, Inc. $AIG

AIA Group Ltd reduced its stake in shares of American International Group, Inc. (NYSE:AIG) by 18.8% in the third quarter, HoldingsChannel.com reports. 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 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on AIG. Royal Bank Of Canada started coverage on shares of American International Group in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $85.00 price target for the company. Cantor Fitzgerald boosted their target price on American International Group from $77.00 to $81.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. The Goldman Sachs Group upgraded American International Group from a “neutral” rating to a “buy” rating and set a $90.00 target price for the company in a report on Thursday, March 5th. Morgan Stanley set a $83.00 price target on American International Group in a research note on Monday. Finally, Barclays lowered their price objective on American International Group from $81.00 to $79.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $88.17.

American International Group Price Performance

AIG stock opened at $73.77 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $88.07. The firm has a 50-day moving average of $76.39 and a 200 day moving average of $78.58. The company has a market cap of $39.58 billion, a P/E ratio of 13.61, a PEG ratio of 0.57 and a beta of 0.58.

American International Group (NYSE:AIG) last posted its quarterly earnings data 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. 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 analysts’ expectations of $6.99 billion. During the same period in the previous year, the firm posted $1.30 EPS. On average, sell-side analysts forecast that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, March 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.4%. American International Group’s payout ratio is currently 33.21%.

About American International Group

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.