Resona Asset Management Co. Ltd. Trims Stake in American International Group, Inc. $AIG

Resona Asset Management Co. Ltd. reduced its position in American International Group, Inc. (NYSE:AIG) by 6.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 167,256 shares of the insurance provider’s stock after selling 11,809 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in American International Group were worth $14,336,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its position in 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 period. Westwood Holdings Group Inc. raised its position in American International Group by 2.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock worth $396,000 after purchasing an additional 130 shares during the period. JFS Wealth Advisors LLC raised its position in American International Group by 17.7% in the 3rd quarter. JFS Wealth Advisors LLC now owns 872 shares of the insurance provider’s stock worth $68,000 after purchasing an additional 131 shares during the period. Howard Capital Management Inc. raised its position in American International Group by 3.0% in the 3rd quarter. Howard Capital Management Inc. now owns 4,717 shares of the insurance provider’s stock worth $370,000 after purchasing an additional 138 shares during the period. Finally, One Wealth Capital Management LLC raised its position in American International Group by 3.7% in the 3rd quarter. One Wealth Capital Management LLC now owns 4,005 shares of the insurance provider’s stock worth $315,000 after purchasing an additional 144 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Stock Performance

Shares of NYSE:AIG opened at $77.94 on Thursday. The firm has a market cap of $41.32 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 0.74 and a beta of 0.53. The firm’s 50 day simple moving average is $76.18 and its 200-day simple moving average is $77.65. American International Group, Inc. has a one year low of $71.25 and a one year high of $87.46. 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 earnings results on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.22. The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.03 billion. American International Group had a net margin of 11.86% and a return on equity of 10.93%. During the same period last year, the company posted $1.17 earnings per share. As a group, equities analysts predict that American International Group, Inc. will post 7.95 EPS for the current year.

American International Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.50 per share. This is a boost from American International Group’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Monday, June 15th. American International Group’s payout ratio is 31.75%.

Analyst Ratings Changes

AIG has been the topic of a number of recent analyst reports. Cantor Fitzgerald increased their price objective on shares of American International Group from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Barclays increased their price objective on shares of American International Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. reduced their price objective on shares of American International Group from $97.00 to $86.00 and set a “neutral” rating on the stock in a research report on Monday, April 20th. Piper Sandler reduced their target price on shares of American International Group from $95.00 to $88.00 and set an “overweight” rating on the stock in a research report on Thursday, February 12th. Finally, Citigroup raised their target price on shares of American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, American International Group has a consensus rating of “Hold” and an average target price of $88.06.

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.