CIBC Asset Management Inc Buys 48,049 Shares of American International Group, Inc. $AIG

CIBC Asset Management Inc boosted its stake in shares of American International Group, Inc. (NYSE:AIG) by 55.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 134,763 shares of the insurance provider’s stock after acquiring an additional 48,049 shares during the quarter. CIBC Asset Management Inc’s holdings in American International Group were worth $11,529,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Atlantic Union Bankshares Corp boosted its holdings in shares of American International Group by 7,100.0% in the third 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 during the period. Navalign LLC purchased a new stake in shares of American International Group in the fourth quarter valued at approximately $29,000. JPL Wealth Management LLC purchased a new stake in shares of American International Group in the third quarter valued at approximately $39,000. Aventura Private Wealth LLC purchased a new stake in shares of American International Group in the fourth quarter valued at approximately $39,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of American International Group in the fourth quarter valued at approximately $52,000. Institutional investors own 90.60% of the company’s stock.

Wall Street Analysts Forecast Growth

AIG has been the subject of a number of research reports. UBS Group boosted their price target on American International Group from $92.00 to $94.00 and gave the company a “buy” rating in a report on Monday, May 4th. Citigroup upped their target price on American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Mizuho upped their target price on American International Group from $84.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. The Goldman Sachs Group upped their target price on American International Group from $87.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Finally, Barclays upped their target price on American International Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, American International Group currently has a consensus rating of “Hold” and an average price target of $88.06.

American International Group Price Performance

NYSE AIG opened at $75.51 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65. The stock’s fifty day moving average price is $76.04 and its 200 day moving average price is $77.44. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $87.46. The company has a market cap of $40.03 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 0.67 and a beta of 0.52.

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

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.00 annualized dividend and a yield of 2.6%. This is an increase from American International Group’s previous quarterly dividend of $0.45. American International Group’s payout ratio is 31.75%.

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.