Westpac Banking Corp Makes New Investment in American International Group, Inc. $AIG

Westpac Banking Corp bought a new stake in American International Group, Inc. (NYSE:AIG) in the first quarter, HoldingsChannel.com reports. The fund bought 7,742 shares of the insurance provider’s stock, valued at approximately $583,000.

Other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. lifted its holdings in shares of American International Group by 2.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock worth $434,000 after purchasing an additional 129 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in American International Group by 2.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock valued at $396,000 after purchasing an additional 130 shares during the period. Larson Financial Group LLC grew its stake in American International Group by 12.6% during the 4th quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider’s stock worth $107,000 after buying an additional 140 shares during the last quarter. GW&K Investment Management LLC increased its position in American International Group by 8.1% in the fourth quarter. GW&K Investment Management LLC now owns 1,917 shares of the insurance provider’s stock worth $164,000 after buying an additional 144 shares during the period. Finally, Kestra Private Wealth Services LLC increased its position in American International Group by 1.3% in the first quarter. Kestra Private Wealth Services LLC now owns 11,048 shares of the insurance provider’s stock worth $831,000 after buying an additional 146 shares during the period. 90.60% of the stock is owned by institutional investors.

American International Group Trading Up 0.0%

Shares of AIG stock opened at $78.26 on Friday. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $87.29. The firm has a market capitalization of $41.49 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 0.72 and a beta of 0.53. The stock has a fifty day moving average of $76.68 and a two-hundred day moving average of $76.47. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65.

American International Group (NYSE:AIG) last issued its quarterly 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 return on equity of 10.93% and a net margin of 11.86%.The company had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.03 billion. During the same period last year, the company earned $1.17 earnings per share. As a group, research analysts expect that American International Group, Inc. will post 7.97 EPS for the current year.

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from American International Group’s previous quarterly dividend of $0.45. American International Group’s dividend payout ratio (DPR) is currently 35.27%.

Wall Street Analysts Forecast Growth

AIG has been the subject of several analyst reports. Piper Sandler reissued a “neutral” rating and set a $80.00 price target (down from $88.00) on shares of American International Group in a report on Wednesday, July 15th. Keefe, Bruyette & Woods dropped their price objective on shares of American International Group from $98.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, July 8th. Wells Fargo & Company lifted their price objective on shares of American International Group from $85.00 to $89.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. HSBC reduced their target price on shares of American International Group from $94.00 to $88.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Finally, The Goldman Sachs Group upped their target price on shares of American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. One investment 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, the stock presently has a consensus rating of “Hold” and a consensus price target of $88.22.

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.