American International Group, Inc. $AIG Shares Purchased by SteelPeak Wealth LLC

Key Points

• SteelPeak Wealth LLC increased its AIG stake by 55.1% in the first quarter, buying 12,675 more shares and bringing its total to 35,679 shares valued at about $2.69 million.
• Other institutional investors also added to AIG positions, and hedge funds and institutions now own 90.60% of the company’s stock.
• AIG reported better-than-expected earnings of $2.11 per share for the latest quarter and raised its dividend to $0.50 per share, while analysts currently rate the stock a consensus Hold with an average target price of $88.

SteelPeak Wealth LLC boosted its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 55.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,679 shares of the insurance provider's stock after acquiring an additional 12,675 shares during the quarter. SteelPeak Wealth LLC's holdings in American International Group were worth $2,685,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AIG. Brighton Jones LLC acquired a new position in shares of American International Group during the 4th quarter worth $1,091,000. Sivia Capital Partners LLC lifted its stake in shares of American International Group by 30.7% in the second quarter. Sivia Capital Partners LLC now owns 5,050 shares of the insurance provider's stock valued at $432,000 after purchasing an additional 1,185 shares during the period. Flow Traders U.S. LLC acquired a new stake in shares of American International Group in the second quarter valued at about $217,000. Ieq Capital LLC boosted its holdings in American International Group by 11.5% during the second quarter. Ieq Capital LLC now owns 244,871 shares of the insurance provider's stock worth $20,958,000 after buying an additional 25,311 shares in the last quarter. Finally, HUB Investment Partners LLC purchased a new stake in American International Group during the second quarter worth about $269,000. Institutional investors and hedge funds own 90.60% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AIG shares. Wells Fargo & Company upped their target price on shares of American International Group from $85.00 to $89.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 9th. Citigroup lifted their price target on shares of American International Group from $85.00 to $88.00 and gave the company a "neutral" rating in a research report on Monday, May 4th. JPMorgan Chase & Co. decreased their price target on American International Group from $97.00 to $86.00 and set a "neutral" rating on the stock in a research note on Monday, April 20th. Mizuho upped their price target on American International Group from $86.00 to $89.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Finally, BMO Capital Markets raised their price objective on American International Group from $83.00 to $89.00 in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $88.00.

American International Group Stock Performance

NYSE:AIG opened at $80.43 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $76.42 and a two-hundred day moving average price of $76.72. American International Group, Inc. has a twelve month low of $71.25 and a twelve month high of $87.29. The company has a market capitalization of $42.65 billion, a P/E ratio of 14.19, a price-to-earnings-growth ratio of 0.71 and a beta of 0.53.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.22. The company had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $7.03 billion. American International Group had a net margin of 11.86% and a return on equity of 10.93%. During the same quarter in the prior year, the firm earned $1.17 earnings per share. As a group, research analysts expect that American International Group, Inc. will post 8 earnings per share for the current fiscal year.

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were given a dividend of $0.50 per share. The ex-dividend date was Monday, June 15th. This represents a $2.00 annualized dividend and a dividend yield of 2.5%. This is an increase from American International Group's previous quarterly dividend of $0.45. American International Group's payout ratio is presently 35.27%.

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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