iA Global Asset Management Inc. Acquires New Stake in American International Group, Inc. (NYSE:AIG)

Key Points

• iA Global Asset Management Inc. purchased 25,695 shares of American International Group (AIG), valued at approximately $2.23 million, as part of their investment strategy in Q1.
• Several institutional investors have significantly increased their stakes in AIG, with 90.60% of the stock now owned by institutional investors and hedge funds.
• Wall Street analysts have a consensus rating of "Moderate Buy" for AIG, with target price estimates ranging from $82.00 to $97.00.

iA Global Asset Management Inc. bought a new stake in American International Group, Inc. (NYSE:AIG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 25,695 shares of the insurance provider's stock, valued at approximately $2,234,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC raised its stake in shares of American International Group by 27.2% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,160 shares of the insurance provider's stock valued at $101,000 after acquiring an additional 248 shares during the period. Atria Wealth Solutions Inc. lifted its stake in shares of American International Group by 6.2% in the 1st quarter. Atria Wealth Solutions Inc. now owns 6,651 shares of the insurance provider's stock worth $578,000 after acquiring an additional 389 shares during the period. New Age Alpha Advisors LLC lifted its stake in shares of American International Group by 14,629.8% in the first quarter. New Age Alpha Advisors LLC now owns 40,507 shares of the insurance provider's stock valued at $3,522,000 after purchasing an additional 40,232 shares during the period. Earned Wealth Advisors LLC purchased a new position in American International Group during the 1st quarter valued at about $381,000. Finally, Scotia Capital Inc. grew its holdings in shares of American International Group by 0.5% during the first quarter. Scotia Capital Inc. now owns 168,679 shares of the insurance provider's stock worth $14,665,000 after buying an additional 769 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Stock Performance

Shares of NYSE:AIG traded up $0.56 during midday trading on Monday, reaching $78.69. 652,680 shares of the company traded hands, compared to its average volume of 4,564,433. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 12 month low of $69.24 and a 12 month high of $88.07. The firm has a market capitalization of $43.59 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 0.85 and a beta of 0.63. The firm's fifty day moving average price is $82.43 and its two-hundred day moving average price is $81.25.

American International Group (NYSE:AIG - Get Free Report) last announced its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $0.21. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.81 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%. During the same period in the prior year, the company earned $1.16 EPS. On average, equities analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, September 16th. American International Group's dividend payout ratio (DPR) is presently 34.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AIG shares. Barclays boosted their target price on shares of American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Morgan Stanley boosted their target price on shares of American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Wall Street Zen raised shares of American International Group from a "hold" rating to a "buy" rating in a report on Saturday. Keefe, Bruyette & Woods upped their price target on shares of American International Group from $94.00 to $97.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Finally, William Blair raised shares of American International Group to a "strong-buy" rating in a research note on Friday, August 1st. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, American International Group currently has an average rating of "Moderate Buy" and a consensus price target of $88.33.

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.