Brandes Investment Partners LP Has $389,000 Stake in American International Group, Inc. $AIG

Brandes Investment Partners LP trimmed its position in American International Group, Inc. (NYSE:AIG) by 99.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,552 shares of the insurance provider’s stock after selling 1,504,365 shares during the quarter. Brandes Investment Partners LP’s holdings in American International Group were worth $389,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AIG. Capital Research Global Investors raised its stake in 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 worth $2,241,091,000 after acquiring an additional 12,645,616 shares in the last quarter. Norges Bank acquired a new position in American International Group during the fourth quarter worth $636,782,000. Vanguard Group Inc. raised its stake in 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 worth $5,378,635,000 after acquiring an additional 7,117,583 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of American International Group by 36.9% in the fourth quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock valued at $1,336,147,000 after buying an additional 4,210,363 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of American International Group by 7.9% in 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 in the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Price Performance

American International Group stock opened at $75.02 on Thursday. The business’s 50-day simple moving average is $76.07 and its 200 day simple moving average is $77.40. The stock has a market cap of $39.78 billion, a price-to-earnings ratio of 13.23, a P/E/G ratio of 0.68 and a beta of 0.52. American International Group, Inc. has a 12-month low of $71.25 and a 12-month high of $87.29. 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 (NYSE:AIG) last issued its earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $7.03 billion. During the same quarter last year, the business earned $1.17 earnings per share. As a group, research analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.7%. This is an increase from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date is Monday, June 15th. American International Group’s dividend payout ratio (DPR) is 31.75%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on American International Group from $86.00 to $85.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 6th. Piper Sandler lowered their target price on American International Group from $95.00 to $88.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. Citigroup raised their target price on American International Group from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Barclays raised their target price on American International Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Finally, Bank of America decreased their price target on American International Group from $80.00 to $79.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $87.78.

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.