Todd Asset Management LLC Has $21.50 Million Stock Holdings in American International Group, Inc. $AIG

Todd Asset Management LLC decreased its position in shares of American International Group, Inc. (NYSE:AIG) by 5.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 273,748 shares of the insurance provider’s stock after selling 14,469 shares during the period. Todd Asset Management LLC’s holdings in American International Group were worth $21,500,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. grew its stake in shares of American International Group by 6.1% in the 2nd quarter. Franklin Resources Inc. now owns 12,536,144 shares of the insurance provider’s stock valued at $1,072,969,000 after buying an additional 716,209 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in American International Group by 4.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 12,111,405 shares of the insurance provider’s stock valued at $951,230,000 after acquiring an additional 499,330 shares in the last quarter. Norges Bank acquired a new stake in American International Group in the second quarter valued at approximately $787,724,000. Raymond James Financial Inc. grew its position in American International Group by 4.4% in the second quarter. Raymond James Financial Inc. now owns 3,429,324 shares of the insurance provider’s stock worth $293,516,000 after acquiring an additional 143,361 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of American International Group by 1.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,390,248 shares of the insurance provider’s stock worth $266,270,000 after purchasing an additional 48,900 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AIG. Keefe, Bruyette & Woods upped their price objective on shares of American International Group from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Wells Fargo & Company boosted their price target on American International Group from $85.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Friday. Piper Sandler lowered 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. Wall Street Zen lowered American International Group from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Cantor Fitzgerald lowered their price target on American International Group from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $87.32.

American International Group Trading Down 0.7%

Shares of AIG stock opened at $78.26 on Tuesday. The firm has a market capitalization of $41.99 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 0.60 and a beta of 0.61. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $88.07. The firm’s fifty day simple moving average is $78.92 and its 200 day simple moving average is $78.85. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.06. American International Group had a net margin of 11.56% and a return on equity of 9.79%. The company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.99 billion. During the same period last year, the business posted $1.30 EPS. As a group, sell-side analysts predict that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Monday, March 16th. American International Group’s payout ratio is presently 33.21%.

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.