OP Asset Management Ltd Purchases New Holdings in American International Group, Inc. $AIG

OP Asset Management Ltd purchased a new stake in American International Group, Inc. (NYSE:AIG) in the first quarter, HoldingsChannel.com reports. The institutional investor purchased 57,347 shares of the insurance provider’s stock, valued at approximately $4,315,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Banque Cantonale Vaudoise increased its holdings in American International Group by 171.7% during the first quarter. Banque Cantonale Vaudoise now owns 10,349 shares of the insurance provider’s stock worth $779,000 after buying an additional 6,540 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in American International Group by 197.2% in the first quarter. Assenagon Asset Management S.A. now owns 827,288 shares of the insurance provider’s stock valued at $62,253,000 after acquiring an additional 1,678,585 shares during the last quarter. CENTRAL TRUST Co lifted its stake in American International Group by 48.7% in the first quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 151 shares during the last quarter. Cidel Asset Management Inc. grew its position in shares of American International Group by 23.2% in the 1st quarter. Cidel Asset Management Inc. now owns 11,037 shares of the insurance provider’s stock valued at $831,000 after acquiring an additional 2,080 shares during the period. Finally, Total Clarity Wealth Management Inc. grew its position in shares of American International Group by 2.0% in the 1st quarter. Total Clarity Wealth Management Inc. now owns 12,721 shares of the insurance provider’s stock valued at $957,000 after acquiring an additional 252 shares during the period. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

NYSE AIG opened at $75.47 on Friday. The firm has a 50-day moving average of $75.77 and a 200-day moving average of $77.31. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market cap of $40.01 billion, a PE ratio of 13.31, a P/E/G ratio of 0.69 and a beta of 0.52. American International Group, Inc. has a 52-week low of $71.25 and a 52-week high of $87.29.

American International Group (NYSE:AIG) last announced 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. 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 quarter in the prior year, the business earned $1.17 EPS. On average, sell-side analysts anticipate that American International Group, Inc. will post 7.98 EPS for the current year.

American International Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Monday, June 15th. This is an increase from American International Group’s previous quarterly dividend of $0.45. American International Group’s payout ratio is 35.27%.

Analyst Ratings Changes

AIG has been the topic of several recent analyst reports. BMO Capital Markets boosted their price objective on shares of American International Group from $83.00 to $89.00 in a research note on Thursday, May 7th. Cantor Fitzgerald lifted their price target on American International Group from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Bank of America lowered their price target on American International Group from $80.00 to $79.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. HSBC upped their price objective on American International Group from $89.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, UBS Group raised their price objective on American International Group from $92.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.