Resona Asset Management Co. Ltd. Has $16.87 Million Stake in American International Group, Inc. (NYSE:AIG)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in American International Group (AIG) by 5.9%, owning a total of 195,097 shares valued at approximately $16.87 million.
• Wall Street analysts have mixed ratings for AIG, with eight analysts recommending a "buy" rating and a consensus target price of $87.93.
• AIG reported an earnings per share (EPS) of $1.81 for the last quarter, surpassing estimates, with total revenue of $6.77 billion against an expectation of $6.81 billion.

Resona Asset Management Co. Ltd. raised its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 5.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 195,097 shares of the insurance provider's stock after acquiring an additional 10,798 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in American International Group were worth $16,866,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Pinnacle Associates Ltd. increased its position in American International Group by 1.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 7,706 shares of the insurance provider's stock valued at $670,000 after acquiring an additional 122 shares in the last quarter. Miracle Mile Advisors LLC increased its position 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 acquiring an additional 124 shares in the last quarter. Western Pacific Wealth Management LP increased its position 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 acquiring an additional 125 shares in the last quarter. Montag A & Associates Inc. increased its position 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 acquiring an additional 130 shares in the last quarter. Finally, Carnegie Investment Counsel increased its position in American International Group by 3.1% in the 1st quarter. Carnegie Investment Counsel now owns 4,311 shares of the insurance provider's stock valued at $375,000 after acquiring an additional 131 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company's stock.

American International Group Stock Down 0.2%

AIG stock traded down $0.20 during mid-day trading on Friday, hitting $80.11. 3,437,812 shares of the company were exchanged, compared to its average volume of 4,299,072. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market cap of $44.38 billion, a P/E ratio of 15.17, a P/E/G ratio of 0.86 and a beta of 0.63. The firm's 50 day simple moving average is $81.80 and its 200 day simple moving average is $81.32. American International Group, Inc. has a 1-year low of $69.24 and a 1-year high of $88.07.

American International Group (NYSE:AIG - Get Free Report) last announced its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.60 by $0.21. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period last year, the company posted $1.16 EPS. On average, sell-side analysts predict that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a $0.45 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. American International Group's dividend payout ratio (DPR) is 34.09%.

Analyst Ratings Changes

Several research analysts have recently issued reports on AIG shares. Wells Fargo & Company raised their target price on shares of American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Morgan Stanley raised their target price on shares of American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Cfra Research raised shares of American International Group to a "moderate buy" rating in a research note on Monday, August 11th. Wall Street Zen raised shares of American International Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of American International Group from $97.00 to $91.00 and set an "outperform" rating on the stock in a research note on Tuesday. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $88.27.

About American International Group

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.