AXQ Capital LP Makes New Investment in American International Group, Inc. $AIG

AXQ Capital LP bought a new stake in American International Group, Inc. (NYSE:AIG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,901 shares of the insurance provider’s stock, valued at approximately $590,000.

Several other hedge funds also recently modified their holdings of AIG. Atlantic Union Bankshares Corp lifted its stake in shares of 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 valued at $28,000 after buying an additional 355 shares during the period. Navalign LLC purchased a new stake in American International Group in the 4th quarter worth approximately $29,000. Aventura Private Wealth LLC purchased a new stake in American International Group in the 4th quarter worth approximately $39,000. JPL Wealth Management LLC acquired a new position in American International Group in the 3rd quarter valued at $39,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in American International Group in the 4th quarter valued at $52,000. 90.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Piper Sandler decreased their price objective on American International Group from $95.00 to $88.00 and set an “overweight” rating on the stock in a report on Thursday, February 12th. BMO Capital Markets increased their target price on American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. UBS Group raised their price target on American International Group from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Bank of America lowered their price target on American International Group from $80.00 to $79.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Finally, The Goldman Sachs Group upped their price objective on shares of American International Group from $87.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, American International Group presently has an average rating of “Hold” and an average target price of $88.06.

American International Group Trading Down 1.7%

Shares of AIG stock opened at $72.56 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.46. The firm’s 50 day moving average price is $76.06 and its two-hundred day moving average price is $77.48. The stock has a market cap of $38.47 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 0.68 and a beta of 0.52.

American International Group (NYSE:AIG) last released its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $6.65 billion during the quarter, compared to analyst estimates of $7.03 billion. During the same quarter in the prior year, the business earned $1.17 earnings per share. On average, analysts anticipate that American International Group, Inc. will post 7.99 EPS 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. Investors of record on Monday, June 15th will be issued a $0.50 dividend. The ex-dividend date is Monday, June 15th. This represents a $2.00 annualized dividend and a yield of 2.8%. This is an increase from American International Group’s previous quarterly dividend of $0.45. American International Group’s payout ratio is currently 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.