American International Group, Inc. $AIG Shares Bought by Korea Investment CORP

Key Points

• Korea Investment CORP boosted its stake in AIG (NYSE:AIG) by 47.3% in Q3 to 760,170 shares, worth about $59.7 million after adding 243,944 shares.
• Other big institutional moves: Norges Bank opened a new ~$787.7 million position and Vanguard raised its holding to 68.48 million shares (≈$5.38 billion), with institutions and hedge funds now owning about 90.6% of AIG.
• Analyst consensus is an overall Hold with an average target of $87.95; AIG recently beat quarterly EPS estimates and declared a $0.45 quarterly dividend (annualized $1.80, ~2.3% yield).

Korea Investment CORP increased its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 47.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 760,170 shares of the insurance provider's stock after purchasing an additional 243,944 shares during the quarter. Korea Investment CORP owned 0.14% of American International Group worth $59,704,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in American International Group in the second quarter valued at approximately $787,724,000. Vanguard Group Inc. boosted its stake in shares of American International Group by 11.6% in the third quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider's stock valued at $5,378,635,000 after purchasing an additional 7,117,583 shares during the period. Viking Global Investors LP acquired a new stake in American International Group during the 2nd quarter worth approximately $155,413,000. Jupiter Asset Management Ltd. increased its position in shares of American International Group by 2,157.0% during the third quarter. Jupiter Asset Management Ltd. now owns 1,615,618 shares of the insurance provider's stock worth $126,891,000 after acquiring an additional 1,544,037 shares during the period. Finally, Munich Reinsurance Co Stock Corp in Munich purchased a new stake in shares of American International Group during the third quarter worth $77,054,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AIG. Evercore decreased their target price on American International Group from $90.00 to $85.00 in a report on Friday, January 23rd. Mizuho upped their price target on American International Group from $83.00 to $86.00 and gave the stock a "neutral" rating in a report on Tuesday, February 17th. Wells Fargo & Company increased their price target on American International Group from $85.00 to $87.00 and gave the company an "equal weight" rating in a research report on Friday, February 13th. Piper Sandler decreased their price objective on American International Group from $95.00 to $88.00 and set an "overweight" rating for the company in a research note on Thursday, February 12th. Finally, TD Cowen upped their target price on shares of American International Group from $86.00 to $90.00 and gave the stock a "hold" rating in a research note on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, American International Group presently has an average rating of "Hold" and an average target price of $87.95.

American International Group Stock Performance

Shares of AIG stock opened at $78.72 on Monday. The firm has a market cap of $42.24 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 0.61 and a beta of 0.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $88.07. The stock's 50-day moving average is $77.54 and its two-hundred day moving average is $78.90.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings results on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.90 by $0.06. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.99 billion. American International Group had a return on equity of 9.79% and a net margin of 11.56%.During the same quarter last year, the business posted $1.30 EPS. Analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, March 16th. American International Group's dividend payout ratio is presently 33.21%.

American International Group Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.

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