American International Group, Inc. $AIG Stock Position Lifted by Lazard Asset Management LLC

Key Points

• Lazard Asset Management increased its AIG stake by 28.8% in the first quarter, adding 60,216 shares to hold 269,081 shares worth about $20.25 million. Institutional investors and hedge funds collectively own 90.6% of AIG.
• AIG reported quarterly EPS of $2.11, beating estimates of $1.89, although revenue of $6.65 billion fell short of the $7.03 billion consensus forecast.
• AIG raised its quarterly dividend from $0.45 to $0.50 per share, implying a $2.00 annual payout and a 2.5% yield. Analysts maintain a consensus “Hold” rating with an average price target of $88.22.

Lazard Asset Management LLC boosted its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 28.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 269,081 shares of the insurance provider's stock after buying an additional 60,216 shares during the quarter. Lazard Asset Management LLC owned approximately 0.05% of American International Group worth $20,248,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC bought a new stake in American International Group in the fourth quarter worth $1,091,000. Sivia Capital Partners LLC boosted its position 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 acquiring an additional 1,185 shares during the period. Flow Traders U.S. LLC bought a new stake in shares of American International Group in the second quarter valued at approximately $217,000. Ieq Capital LLC raised its position in shares of American International Group by 11.5% during the second quarter. Ieq Capital LLC now owns 244,871 shares of the insurance provider's stock valued at $20,958,000 after buying an additional 25,311 shares during the last quarter. Finally, HUB Investment Partners LLC bought a new stake in shares of American International Group in the second quarter valued at about $269,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Trading Up 2.2%

Shares of NYSE:AIG opened at $80.89 on Wednesday. American International Group, Inc. has a 52-week low of $71.25 and a 52-week high of $87.29. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $42.89 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 0.73 and a beta of 0.53. The company has a 50-day simple moving average of $76.82 and a 200 day simple moving average of $76.47.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, beating the consensus estimate of $1.89 by $0.22. American International Group had a net margin of 11.86% and a return on equity of 10.93%. The firm had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $7.03 billion. During the same period in the previous year, the company earned $1.17 earnings per share. Sell-side analysts forecast that American International Group, Inc. will post 7.97 earnings per share for the current year.

American International Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, June 15th. This is a boost from American International Group's previous quarterly dividend of $0.45. American International Group's dividend payout ratio (DPR) is currently 35.27%.

Analyst Upgrades and Downgrades

AIG has been the subject of several recent research reports. Piper Sandler reissued a "neutral" rating and issued a $80.00 price target (down from $88.00) on shares of American International Group in a research report on Wednesday, July 15th. Cantor Fitzgerald raised American International Group from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $85.00 to $92.00 in a report on Thursday, July 9th. Keefe, Bruyette & Woods dropped their price objective on shares of American International Group from $98.00 to $95.00 and set an "outperform" rating for the company in a research report on Wednesday, July 8th. Mizuho upped their target price on shares of American International Group from $86.00 to $89.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Finally, Morgan Stanley reduced their price target on American International Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $88.22.

About American International Group

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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