Allspring Global Investments Holdings LLC raised its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 11.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 627,316 shares of the insurance provider's stock after purchasing an additional 63,281 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.11% of American International Group worth $54,457,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Research Global Investors lifted its holdings in shares of American International Group by 1.4% in the 4th quarter. Capital Research Global Investors now owns 34,890,814 shares of the insurance provider's stock valued at $2,540,050,000 after acquiring an additional 482,724 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of American International Group by 7.2% in the 4th quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider's stock valued at $1,951,427,000 after purchasing an additional 1,791,964 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of American International Group by 3.4% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider's stock valued at $1,029,905,000 after purchasing an additional 461,912 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of American International Group by 14.0% in the 4th quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider's stock worth $760,528,000 after purchasing an additional 1,284,354 shares during the period. Finally, Norges Bank purchased a new position in shares of American International Group in the 4th quarter worth approximately $718,013,000. 90.60% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, EVP Christopher Flatt sold 46,182 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the completion of the transaction, the executive vice president owned 21,400 shares in the company, valued at $1,781,764. The trade was a 68.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.50% of the company's stock.
American International Group Stock Up 0.3%
Shares of AIG traded up $0.22 during midday trading on Thursday, reaching $82.58. 2,804,218 shares of the stock were exchanged, compared to its average volume of 4,368,373. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.21. American International Group, Inc. has a 52 week low of $69.00 and a 52 week high of $88.07. The company's 50 day moving average is $83.74 and its two-hundred day moving average is $79.74. The company has a market capitalization of $47.59 billion, a P/E ratio of -31.04, a PEG ratio of 0.93 and a beta of 0.63.
American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.13. The firm had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.89 billion. American International Group had a negative net margin of 7.05% and a positive return on equity of 7.13%. During the same quarter in the prior year, the company earned $1.25 EPS. On average, sell-side analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current year.
American International Group Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.18%. This is a positive change from American International Group's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, June 13th. American International Group's payout ratio is presently -67.67%.
Analysts Set New Price Targets
AIG has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price objective on shares of American International Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Evercore ISI raised their target price on shares of American International Group from $81.00 to $89.00 and gave the stock an "in-line" rating in a report on Tuesday, April 1st. Hsbc Global Res upgraded shares of American International Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. The Goldman Sachs Group increased their price objective on shares of American International Group from $79.00 to $87.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on American International Group to $91.00 and gave the company a "buy" rating in a research report on Wednesday, April 2nd. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $88.12.
Check Out Our Latest Research Report on AIG
American International Group Profile
(
Free Report)
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.
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