Aberdeen Group plc Acquires 185,400 Shares of American International Group, Inc. $AIG

Key Points

• Aberdeen Group plc increased its stake in American International Group (AIG) by 68.3% in the first quarter, owning approximately 0.08% of the company valued at about $39.49 million.
• AIG received several upgrades from analysts, including a "moderate buy" rating from Cfra Research and an increased price target from Morgan Stanley from $81.00 to $85.00.
• The company announced a quarterly dividend of $0.45, yielding 2.2%, with a payout ratio of 34.09%, and the dividend will be paid on September 30th.

Aberdeen Group plc grew its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 68.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 456,972 shares of the insurance provider's stock after buying an additional 185,400 shares during the quarter. Aberdeen Group plc owned approximately 0.08% of American International Group worth $39,492,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Capital Research Global Investors grew its stake in American International Group by 1.4% in the 4th quarter. Capital Research Global Investors now owns 34,890,814 shares of the insurance provider's stock valued at $2,540,050,000 after buying an additional 482,724 shares during the last quarter. GQG Partners LLC lifted its position in shares of American International Group by 33,315.0% during the 1st quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider's stock valued at $1,643,995,000 after acquiring an additional 18,852,949 shares during the period. Bank of New York Mellon Corp lifted its position in shares of American International Group by 20.4% during the 1st quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider's stock valued at $974,840,000 after acquiring an additional 1,901,998 shares during the period. Northern Trust Corp lifted its position in shares of American International Group by 16.9% during the 4th quarter. Northern Trust Corp now owns 7,258,648 shares of the insurance provider's stock valued at $528,430,000 after acquiring an additional 1,050,228 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of American International Group by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,915,405 shares of the insurance provider's stock valued at $503,437,000 after acquiring an additional 143,046 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AIG has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their target price on American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Morgan Stanley increased their price target on shares of American International Group from $81.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Barclays increased their price target on shares of American International Group from $92.00 to $93.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Citigroup initiated coverage on shares of American International Group in a research report on Wednesday, August 13th. They set a "neutral" rating and a $85.00 price target on the stock. Finally, Cfra Research upgraded shares of American International Group to a "moderate buy" rating in a research report on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $88.27.

American International Group Price Performance

NYSE:AIG traded up $0.06 on Thursday, hitting $82.59. The company had a trading volume of 3,350,881 shares, compared to its average volume of 4,525,830. The stock has a market capitalization of $45.75 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 0.87 and a beta of 0.63. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average of $81.61 and a two-hundred day moving average of $81.45. American International Group, Inc. has a 52 week low of $69.24 and a 52 week high of $88.07.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.60 by $0.21. The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.81 billion. American International Group had a net margin of 11.51% and a return on equity of 7.88%. During the same quarter in the prior year, the firm earned $1.16 EPS. On average, research analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.80 annualized dividend and a yield of 2.2%. American International Group's dividend payout ratio is presently 34.09%.

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.