Amundi Buys 232,842 Shares of American International Group, Inc. $AIG

Key Points

• Amundi increased its AIG position by 14.6% in the first quarter, buying 232,842 additional shares to hold 1.83 million shares worth approximately $137.4 million. Institutional investors collectively own 90.6% of AIG.
• Analysts maintain a mixed but generally stable outlook: AIG has a consensus “Hold” rating and an average price target of $88.22, compared with a recent share price of $78.59.
• AIG reported quarterly earnings of $2.11 per share, exceeding the $1.89 analyst consensus, although revenue of $6.65 billion fell short of the $7.03 billion expectation.

Amundi boosted its position in American International Group, Inc. (NYSE:AIG - Free Report) by 14.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,825,586 shares of the insurance provider's stock after purchasing an additional 232,842 shares during the period. Amundi owned approximately 0.34% of American International Group worth $137,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in American International Group by 39.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider's stock valued at $1,400,613,000 after purchasing an additional 4,661,246 shares in the last quarter. Franklin Resources Inc. lifted its holdings in American International Group by 36.9% in the fourth quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider's stock valued at $1,336,147,000 after acquiring an additional 4,210,363 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position in shares of American International Group by 22.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider's stock valued at $805,529,000 after acquiring an additional 1,846,979 shares during the period. Bank of New York Mellon Corp raised its position in American International Group by 6.1% during the first quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider's stock worth $619,862,000 after acquiring an additional 474,035 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of American International Group by 10.8% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,482,558 shares of the insurance provider's stock valued at $640,133,000 after acquiring an additional 731,802 shares in the last quarter. Institutional investors own 90.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AIG shares. Mizuho raised their target price on American International Group from $86.00 to $89.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. HSBC cut their price target on American International Group from $94.00 to $88.00 and set a "buy" rating on the stock in a research note on Monday, July 6th. BMO Capital Markets boosted their price target on shares of American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. JPMorgan Chase & Co. boosted their price target on American International Group from $86.00 to $90.00 and gave the company a "neutral" rating in a research report on Monday, July 20th. Finally, The Goldman Sachs Group increased their target price on American International Group from $85.00 to $88.00 and gave the stock a "buy" rating in a research note on Wednesday, July 1st. Seven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat, American International Group presently has a consensus rating of "Hold" and a consensus target price of $88.22.

American International Group Stock Performance

Shares of AIG stock opened at $78.59 on Friday. The firm has a market capitalization of $41.67 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 0.72 and a beta of 0.53. American International Group, Inc. has a one year low of $71.25 and a one year 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 50 day moving average price of $76.90 and a 200 day moving average price of $76.53.

American International Group (NYSE:AIG - Get Free Report) last issued its earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.22. American International Group had a return on equity of 10.93% and a net margin of 11.86%.The business had revenue of $6.65 billion during the quarter, compared to analysts' expectations of $7.03 billion. During the same quarter in the previous year, the business earned $1.17 EPS. Sell-side analysts anticipate that American International Group, Inc. will post 7.97 EPS for the current year.

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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