American International Group, Inc. $AIG Stock: Assenagon Asset Management S.A. Increases Stake

Key Points

• Assenagon Asset Management increased its AIG stake by 115.7% in the third quarter, purchasing 326,351 additional shares and bringing its holdings to 608,522 shares worth approximately $45.3 million. Institutional investors collectively own 90.6% of AIG.
• AIG reported quarterly earnings of $2.00 per share, exceeding analysts’ $1.92 estimate, though revenue of $7.08 billion fell short of the $7.25 billion forecast. The company maintains a $0.50 quarterly dividend, equivalent to a 2.5% yield.
• AIG shares opened at $80.60, while analysts hold a consensus “Hold” rating with an average price target of $87.68; eight analysts rate the stock Buy and ten rate it Hold.

Assenagon Asset Management S.A. increased its position in American International Group, Inc. (NYSE:AIG - Free Report) by 115.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 608,522 shares of the insurance provider's stock after purchasing an additional 326,351 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.12% of American International Group worth $45,286,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. First Bancorp Inc ME acquired a new stake in shares of American International Group during the 2nd quarter worth about $30,000. SHP Wealth Management acquired a new position in American International Group in the fourth quarter valued at about $34,000. Fiduciary Financial Advisors bought a new stake in American International Group during the second quarter worth about $34,000. CENTRAL TRUST Co increased its holdings in shares of American International Group by 48.7% during the first quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider's stock worth $35,000 after buying an additional 151 shares in the last quarter. Finally, Elevation Wealth Partners LLC raised its stake in shares of American International Group by 71.6% in the third quarter. Elevation Wealth Partners LLC now owns 556 shares of the insurance provider's stock valued at $41,000 after acquiring an additional 232 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company's stock.

American International Group Stock Performance

Shares of NYSE:AIG opened at $80.60 on Friday. The stock has a market capitalization of $42.14 billion, a P/E ratio of 14.73, a P/E/G ratio of 0.85 and a beta of 0.52. American International Group, Inc. has a 1-year low of $71.25 and a 1-year high of $87.29. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $76.09 and a two-hundred day moving average price of $76.60.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The insurance provider reported $2.00 EPS for the quarter, beating analysts' consensus estimates of $1.92 by $0.08. American International Group had a return on equity of 11.05% and a net margin of 11.13%. The company had revenue of $7.08 billion during the quarter, compared to analysts' expectations of $7.25 billion. During the same period in the prior year, the business posted $1.81 EPS. Equities analysts predict that American International Group, Inc. will post 8.07 earnings per share for the current year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, September 16th. American International Group's dividend payout ratio is presently 36.56%.

Insiders Place Their Bets

In other American International Group news, insider Peter Zaffino sold 36,829 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $76.14, for a total value of $2,804,160.06. Following the sale, the insider directly owned 556,004 shares in the company, valued at approximately $42,334,144.56. This trade represents a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company's stock.

Analyst Ratings Changes

AIG has been the topic of a number of recent analyst reports. Royal Bank Of Canada boosted their price objective on American International Group from $85.00 to $87.00 and gave the stock a "sector perform" rating in a research note on Monday, August 10th. HSBC lowered their target price on American International Group from $94.00 to $88.00 and set a "buy" rating for the company in a research note on Monday, July 6th. Morgan Stanley cut their price target on American International Group from $81.00 to $80.00 and set an "equal weight" rating for the company in a report on Tuesday, October 6th. The Goldman Sachs Group lifted their price target on American International Group from $85.00 to $88.00 and gave the company a "buy" rating in a report on Wednesday, July 1st. Finally, Wells Fargo & Company reduced their price target on shares of American International Group from $85.00 to $83.00 and set an "equal weight" rating on the stock in a research report on Monday, October 12th. Eight research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $87.68.

American International Group Company Profile

American International Group, Inc NYSE: AIG is a global insurance organization whose principal operating business is general insurance. Through its property and casualty operations, AIG provides commercial and personal insurance products, including coverage for businesses, multinational companies, individuals, and specialty risks. Its offerings include property, casualty, liability, marine, aviation, cyber, accident, and travel insurance, along with other risk-management solutions.

AIG serves customers through a network spanning approximately 190 countries and jurisdictions.

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