Intech Investment Management LLC Grows Stock Position in American International Group, Inc. $AIG

Intech Investment Management LLC lifted its holdings in shares of American International Group, Inc. (NYSE:AIG) by 16.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,863 shares of the insurance provider’s stock after buying an additional 5,910 shares during the period. Intech Investment Management LLC’s holdings in American International Group were worth $3,669,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in AIG. Brighton Jones LLC purchased a new position in shares of American International Group in the fourth quarter valued at $1,091,000. Kestra Private Wealth Services LLC grew its stake in shares of American International Group by 3.2% during the 1st quarter. Kestra Private Wealth Services LLC now owns 14,956 shares of the insurance provider’s stock valued at $1,300,000 after buying an additional 466 shares during the period. IFP Advisors Inc increased its stake in American International Group by 34.9% during the first quarter. IFP Advisors Inc now owns 2,882 shares of the insurance provider’s stock worth $251,000 after acquiring an additional 745 shares during the last quarter. Crestwood Advisors Group LLC raised its holdings in American International Group by 24.7% in the first quarter. Crestwood Advisors Group LLC now owns 5,113 shares of the insurance provider’s stock valued at $444,000 after buying an additional 1,013 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of American International Group in the 1st quarter valued at $5,775,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AIG shares. Cfra Research raised American International Group to a “moderate buy” rating in a research report on Monday, August 11th. JPMorgan Chase & Co. increased their price objective on shares of American International Group from $95.00 to $97.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Piper Sandler cut their target price on American International Group from $96.00 to $88.00 and set an “overweight” rating on the stock in a research note on Thursday, October 2nd. Morgan Stanley dropped their price target on shares of American International Group from $85.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. Finally, Evercore ISI raised their price objective on American International Group from $89.00 to $90.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.00.

American International Group Stock Up 0.8%

AIG opened at $77.04 on Wednesday. The firm’s 50-day simple moving average is $78.71 and its 200-day simple moving average is $80.95. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63. American International Group, Inc. has a twelve month low of $69.24 and a twelve month high of $88.07. The firm has a market cap of $41.57 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 0.77 and a beta of 0.73.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.63. American International Group had a return on equity of 7.88% and a net margin of 11.51%.The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter last year, the business earned $1.23 earnings per share. Equities research analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.80 annualized dividend and a yield of 2.3%. American International Group’s dividend payout ratio (DPR) is currently 32.73%.

American International Group Company Profile

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers’ compensation, excess casualty, and crisis management insurance products; and professional liability insurance.