American International Group, Inc. $AIG Shares Acquired by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. significantly increased its stake in American International Group, raising its holdings by 59.5% to 51,904 shares, valued at about $4.5 million.
• Several other institutional investors have also shown strong interest, with GQG Partners increasing its stake by a remarkable 33,315.0%, bringing their total to over 18.9 million shares, worth approximately $1.64 billion.
• American International Group reported $1.81 earnings per share for the latest quarter, surpassing analysts’ expectations, along with declaring a quarterly dividend of $0.45 per share, yielding 2.2%.

Northwestern Mutual Wealth Management Co. increased its position in American International Group, Inc. (NYSE:AIG - Free Report) by 59.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,904 shares of the insurance provider's stock after buying an additional 19,356 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in American International Group were worth $4,513,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AIG. GQG Partners LLC lifted its holdings in shares of American International Group by 33,315.0% in the first quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider's stock valued at $1,643,995,000 after buying an additional 18,852,949 shares during the period. Nuveen LLC acquired a new stake in shares of American International Group in the first quarter valued at $440,273,000. Raymond James Financial Inc. lifted its holdings in shares of American International Group by 151.6% in the first quarter. Raymond James Financial Inc. now owns 3,285,963 shares of the insurance provider's stock valued at $285,682,000 after buying an additional 1,980,001 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of American International Group by 20.4% in the first quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider's stock valued at $974,840,000 after buying an additional 1,901,998 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of American International Group in the fourth quarter valued at $135,325,000. Institutional investors and hedge funds own 90.60% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AIG. Cfra Research raised American International Group to a "moderate buy" rating in a report on Monday, August 11th. William Blair raised American International Group to a "strong-buy" rating in a report on Friday, August 1st. Wells Fargo & Company upped their target price on American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Barclays upped their target price on American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Finally, Keefe, Bruyette & Woods reduced their target price on American International Group from $97.00 to $91.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.27.

American International Group Stock Down 0.3%

NYSE:AIG opened at $82.31 on Thursday. The firm has a market capitalization of $45.60 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 0.88 and a beta of 0.63. American International Group, Inc. has a 1-year low of $69.24 and a 1-year high of $88.07. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. The business's fifty day moving average price is $81.39 and its 200 day moving average price is $81.76.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.21. The firm 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, sell-side analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm 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 2.2%. The ex-dividend date of this dividend is Tuesday, September 16th. American International Group's payout ratio is presently 34.09%.

About American International Group

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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