AIA Group Ltd Has $901,000 Stock Position in American International Group, Inc. (NYSE:AIG)

Key Points

• AIA Group Ltd increased its holdings in American International Group (AIG) by 169.6% in Q1, owning a total of 10,368 shares valued at $901,000 as of the latest filing.
• American International Group reported $1.81 EPS for the last quarter, beating estimates, and has declared a quarterly dividend of $0.45 per share, yielding 2.3%.
• The current consensus price target for AIG stock is $88.33, with recent price upgrades from multiple analysts, reflecting a positive outlook.

AIA Group Ltd boosted its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 169.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,368 shares of the insurance provider's stock after purchasing an additional 6,523 shares during the quarter. AIA Group Ltd's holdings in American International Group were worth $901,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ameriflex Group Inc. acquired a new position in American International Group during the 4th quarter valued at approximately $29,000. Sachetta LLC boosted its position in American International Group by 194.5% during the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 249 shares during the period. Hemington Wealth Management boosted its position in American International Group by 42.8% during the 1st quarter. Hemington Wealth Management now owns 474 shares of the insurance provider's stock valued at $41,000 after purchasing an additional 142 shares during the period. NBC Securities Inc. acquired a new position in American International Group during the 1st quarter valued at approximately $47,000. Finally, SouthState Corp boosted its position in American International Group by 798.5% during the 1st quarter. SouthState Corp now owns 584 shares of the insurance provider's stock valued at $51,000 after purchasing an additional 519 shares during the period. Institutional investors and hedge funds own 90.60% of the company's stock.

Analyst Upgrades and Downgrades

AIG has been the subject of a number of analyst reports. Wall Street Zen upgraded American International Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Wells Fargo & Company boosted their price target on American International Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Cantor Fitzgerald upgraded American International Group to a "hold" rating in a research report on Tuesday. William Blair upgraded American International Group to a "strong-buy" rating in a research report on Friday, August 1st. Finally, Citigroup initiated coverage on American International Group in a research report on Wednesday. They set a "neutral" rating and a $85.00 price target for the company. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $88.27.

American International Group Trading Down 0.2%

Shares of American International Group stock traded down $0.20 on Friday, reaching $80.11. 3,437,812 shares of the company were exchanged, compared to its average volume of 4,299,072. The stock has a fifty day moving average price of $81.80 and a 200-day moving average price of $81.32. The firm has a market capitalization of $44.38 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 0.86 and a beta of 0.63. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a fifty-two week low of $69.24 and a fifty-two week high of $88.07.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $0.21. The company 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 previous year, the firm earned $1.16 earnings per share. On average, analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. American International Group's payout ratio is 34.09%.

American International Group 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.