AQR Capital Management LLC Increases Position in American International Group, Inc. $AIG

Key Points

• AQR Capital Management LLC increased its holdings in American International Group, Inc. by 184.4% in the first quarter, now owning approximately 3.3 million shares valued at $287.2 million.
• American International Group reported $1.81 earnings per share for the latest quarter, exceeding analysts' expectations of $1.60.
• The company has declared a quarterly dividend of $0.45 per share, with an upcoming payment date on September 30th for stockholders recorded by September 16th.

AQR Capital Management LLC boosted its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 184.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,335,040 shares of the insurance provider's stock after buying an additional 2,162,545 shares during the period. AQR Capital Management LLC owned approximately 0.58% of American International Group worth $287,214,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AIG. Pinnacle Associates Ltd. increased its holdings in American International Group by 1.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 7,706 shares of the insurance provider's stock worth $670,000 after purchasing an additional 122 shares during the period. Miracle Mile Advisors LLC boosted its position in shares of 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 worth $704,000 after purchasing an additional 124 shares in the last quarter. Western Pacific Wealth Management LP boosted its position in shares of 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 worth $493,000 after purchasing an additional 125 shares in the last quarter. Montag A & Associates Inc. lifted its position in American International Group by 0.7% during the 1st quarter. Montag A & Associates Inc. now owns 17,788 shares of the insurance provider's stock worth $1,546,000 after acquiring an additional 130 shares during the period. Finally, Carnegie Investment Counsel lifted its position in American International Group by 3.1% during the 1st quarter. Carnegie Investment Counsel now owns 4,311 shares of the insurance provider's stock worth $375,000 after acquiring an additional 131 shares during the period. 90.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on AIG shares. William Blair raised American International Group to a "strong-buy" rating in a research report on Friday, August 1st. Keefe, Bruyette & Woods lowered their price target on American International Group from $97.00 to $91.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. Cfra Research raised American International Group to a "moderate buy" rating in a research report on Monday, August 11th. Cantor Fitzgerald raised American International Group to a "hold" rating in a research report on Tuesday, August 12th. Finally, Morgan Stanley lifted their price target on 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. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $88.27.

American International Group Price Performance

Shares of American International Group stock traded down $0.61 on Monday, hitting $78.60. The company's stock had a trading volume of 1,606,948 shares, compared to its average volume of 4,479,449. American International Group, Inc. has a 1 year low of $69.24 and a 1 year high of $88.07. The firm has a fifty day moving average price of $80.86 and a 200-day moving average price of $82.12. 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 company has a market capitalization of $43.55 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 0.84 and a beta of 0.70.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.60 by $0.21. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.81 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same period in the previous year, the business earned $1.16 EPS. As a group, sell-side analysts anticipate that American International Group, Inc. will post 6.24 earnings per share 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. Investors 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 yield of 2.3%. American International Group's dividend payout ratio is currently 34.09%.

American International Group Profile

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.