AIA Group Ltd lowered its position in American International Group, Inc. (NYSE:AIG – Get Rating) by 86.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,821 shares of the insurance provider's stock after selling 31,868 shares during the period. AIA Group Ltd's holdings in American International Group were worth $229,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in AIG. AQR Capital Management LLC increased its position in shares of American International Group by 175.6% in the 2nd quarter. AQR Capital Management LLC now owns 3,371,929 shares of the insurance provider's stock valued at $167,551,000 after buying an additional 2,148,227 shares in the last quarter. Prudential Financial Inc. increased its holdings in American International Group by 82.5% during the 2nd quarter. Prudential Financial Inc. now owns 2,622,075 shares of the insurance provider's stock worth $134,059,000 after purchasing an additional 1,185,104 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in American International Group by 196.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 582,327 shares of the insurance provider's stock worth $29,774,000 after purchasing an additional 1,183,224 shares in the last quarter. GQG Partners LLC increased its holdings in American International Group by 14.4% during the 2nd quarter. GQG Partners LLC now owns 9,109,926 shares of the insurance provider's stock worth $466,068,000 after purchasing an additional 1,146,973 shares in the last quarter. Finally, Great West Life Assurance Co. Can bought a new position in American International Group during the 3rd quarter worth about $37,088,000. Institutional investors own 89.01% of the company's stock.
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Shares of NYSE:AIG opened at $63.98 on Friday. American International Group, Inc. has a 52-week low of $47.05 and a 52-week high of $65.73. The company has a market capitalization of $47.54 billion, a P/E ratio of 3.81, a price-to-earnings-growth ratio of 1.00 and a beta of 1.19. The company has a 50-day simple moving average of $62.68 and a 200 day simple moving average of $56.61. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.33 and a current ratio of 0.33.
American International Group (NYSE:AIG – Get Rating) last issued its earnings results on Tuesday, November 1st. The insurance provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.07. American International Group had a net margin of 23.33% and a return on equity of 7.33%. The business had revenue of $11.33 billion during the quarter, compared to the consensus estimate of $11.50 billion. Sell-side analysts forecast that American International Group, Inc. will post 4.41 earnings per share for the current year.American International Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 29th. Shareholders of record on Thursday, December 15th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $1.28 annualized dividend and a yield of 2.00%. American International Group's dividend payout ratio (DPR) is presently 7.61%.
Analyst Ratings Changes
AIG has been the subject of a number of research reports. The Goldman Sachs Group initiated coverage on American International Group in a report on Monday, October 10th. They set a "buy" rating and a $83.00 target price for the company. Piper Sandler lowered their target price on American International Group from $68.00 to $62.00 in a report on Monday, October 10th. Royal Bank of Canada increased their target price on American International Group from $68.00 to $73.00 and gave the stock an "outperform" rating in a report on Wednesday, December 14th. Barclays reduced their price objective on shares of American International Group from $56.00 to $53.00 and set an "equal weight" rating for the company in a research note on Friday, October 14th. Finally, Jefferies Financial Group upgraded shares of American International Group from a "hold" rating to a "buy" rating and increased their price objective for the stock from $57.00 to $64.00 in a research note on Wednesday, October 12th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, American International Group presently has an average rating of "Hold" and an average target price of $65.08.
American International Group Company Profile
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American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment provides general liability, environmental, commercial automobile liability, workers' compensation, casualty, and crisis management insurance products; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, crop, and marine insurance.
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