Bank of New York Mellon Corp Trims Position in American International Group, Inc. $AIG

Bank of New York Mellon Corp decreased its position in shares of American International Group, Inc. (NYSE:AIG) by 7.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 7,763,340 shares of the insurance provider’s stock after selling 650,819 shares during the period. Bank of New York Mellon Corp’s holdings in American International Group were worth $664,154,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of American International Group by 11.6% during the third 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 period. Capital Research Global Investors lifted its stake in shares of American International Group by 79.6% during the third quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider’s stock valued at $2,241,091,000 after buying an additional 12,645,616 shares during the period. Wellington Management Group LLP lifted its stake in shares of American International Group by 7.9% during the third quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock valued at $2,045,657,000 after buying an additional 1,899,203 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in shares of 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 buying an additional 499,330 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in shares of American International Group by 22.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock valued at $805,529,000 after buying an additional 1,846,979 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analysts Set New Price Targets

AIG has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of American International Group from $97.00 to $98.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Citigroup upped their price target on shares of American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. UBS Group upped their price target on shares of American International Group from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Cantor Fitzgerald upped their price target on shares of American International Group from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Finally, Piper Sandler dropped their price target on shares of 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 equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $88.06.

American International Group Stock Performance

Shares of AIG stock opened at $72.56 on Thursday. The company’s fifty day simple moving average is $76.06 and its 200-day simple moving average is $77.48. American International Group, Inc. has a 52 week low of $71.25 and a 52 week high of $87.46. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23. The company has a market cap of $38.47 billion, a PE ratio of 12.80, a P/E/G ratio of 0.68 and a beta of 0.52.

American International Group (NYSE:AIG) last issued its earnings results on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.22. American International Group had a net margin of 11.86% and a return on equity of 10.93%. The business had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $7.03 billion. During the same quarter last year, the firm posted $1.17 EPS. As a group, equities research analysts anticipate that American International Group, Inc. will post 7.99 EPS for the current year.

American International Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.8%. This is a boost from American International Group’s previous quarterly dividend of $0.45. American International Group’s payout ratio is 31.75%.

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.