American International Group, Inc. $AIG Shares Acquired by Perpetual Ltd

Key Points

• Perpetual Ltd has increased its holdings in American International Group, Inc. by 3.2%, owning approximately 449,661 shares worth about $38.5 million at the end of the second quarter.
• AIG recently reported a quarterly earnings per share (EPS) of $1.81, exceeding analysts' expectations of $1.60, with the company had a revenue of $6.77 billion during the same period.
• The company declared a quarterly dividend of $0.45, set to be paid on September 30, representing an annualized dividend of $1.80 and a yield of 2.3%.

Perpetual Ltd grew its position in American International Group, Inc. (NYSE:AIG - Free Report) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 449,661 shares of the insurance provider's stock after buying an additional 14,137 shares during the quarter. Perpetual Ltd owned 0.08% of American International Group worth $38,486,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Pinnacle Associates Ltd. increased its position in American International Group by 1.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 7,706 shares of the insurance provider's stock worth $670,000 after purchasing an additional 122 shares in the last quarter. Miracle Mile Advisors LLC grew its holdings in American International Group by 1.6% in the 1st quarter. Miracle Mile Advisors LLC now owns 8,094 shares of the insurance provider's stock valued at $704,000 after buying an additional 124 shares during the period. Western Pacific Wealth Management LP grew its holdings in American International Group by 2.3% in the 1st quarter. Western Pacific Wealth Management LP now owns 5,673 shares of the insurance provider's stock valued at $493,000 after buying an additional 125 shares during the period. Aaron Wealth Advisors LLC grew its holdings in American International Group by 2.4% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 5,466 shares of the insurance provider's stock valued at $468,000 after buying an additional 126 shares during the period. Finally, Montag A & Associates Inc. grew its holdings in American International Group by 0.7% in the 1st quarter. Montag A & Associates Inc. now owns 17,788 shares of the insurance provider's stock valued at $1,546,000 after buying an additional 130 shares during the period. Hedge funds and other institutional investors own 90.60% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on AIG. William Blair raised American International Group to a "strong-buy" rating in a research note on Friday, August 1st. Keefe, Bruyette & Woods dropped their price objective on American International Group from $97.00 to $91.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Wolfe Research assumed coverage on American International Group in a report on Tuesday. They set a "peer perform" rating on the stock. Cantor Fitzgerald upgraded American International Group to a "hold" rating in a report on Tuesday, August 12th. Finally, Wall Street Zen upgraded American International Group from a "hold" rating to a "buy" rating in a research note on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, American International Group presently has an average rating of "Moderate Buy" and an average target price of $88.27.

American International Group Stock Performance

AIG traded down $1.06 during midday trading on Friday, reaching $76.97. The company's stock had a trading volume of 13,509,145 shares, compared to its average volume of 4,383,775. The company has a fifty day simple moving average of $79.77 and a 200 day simple moving average of $81.96. American International Group, Inc. has a twelve month low of $69.24 and a twelve month high of $88.07. The stock has a market cap of $42.64 billion, a P/E ratio of 14.58, a PEG ratio of 0.82 and a beta of 0.70. 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 (NYSE:AIG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.60 by $0.21. American International Group had a return on equity of 7.88% and a net margin of 11.51%.The business had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.81 billion. During the same period in the previous year, the firm earned $1.16 earnings per share. Research analysts expect 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $1.80 annualized dividend and a yield of 2.3%. American International Group's dividend payout ratio is currently 34.09%.

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.