Bank of Hawaii Acquires New Position in American International Group, Inc. $AIG

Key Points

• Bank of Hawaii has acquired a new stake of 6,261 shares in American International Group (AIG), valued at approximately $544,000.
• Recent analyst ratings show that AIG received upgrades from several firms, including a "strong-buy" rating from William Blair and a target price raise by Wells Fargo to $82.00.
• AIG announced a quarterly dividend of $0.45 per share, representing an annualized dividend yield of 2.2%, with a payout ratio of 34.09%.

Bank of Hawaii purchased a new position in shares of American International Group, Inc. (NYSE:AIG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 6,261 shares of the insurance provider's stock, valued at approximately $544,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sachetta LLC boosted its stake in shares of American International Group by 194.5% during the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock worth $33,000 after acquiring an additional 249 shares during the period. Ameriflex Group Inc. acquired a new stake in American International Group during the 4th quarter worth approximately $29,000. Hemington Wealth Management lifted its holdings in American International Group by 42.8% during the 1st quarter. Hemington Wealth Management now owns 474 shares of the insurance provider's stock worth $41,000 after purchasing an additional 142 shares during the last quarter. NBC Securities Inc. acquired a new position in American International Group in the first quarter valued at about $47,000. Finally, SouthState Corp lifted its holdings in shares of American International Group by 798.5% during the 1st quarter. SouthState Corp now owns 584 shares of the insurance provider's stock worth $51,000 after acquiring an additional 519 shares during the period. Institutional investors own 90.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AIG shares. William Blair raised American International Group to a "strong-buy" rating in a research note on Friday, August 1st. Cantor Fitzgerald upgraded shares of American International Group to a "hold" rating in a report on Tuesday, August 12th. Cfra Research upgraded American International Group to a "moderate buy" rating in a report on Monday, August 11th. Morgan Stanley increased their price objective on American International Group from $81.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Finally, Wells Fargo & Company increased their price objective on American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $88.27.

American International Group Stock Down 0.3%

American International Group stock traded down $0.23 during trading hours on Friday, hitting $81.37. 4,039,872 shares of the stock traded hands, compared to its average volume of 4,498,745. The firm's 50-day moving average price is $81.34 and its two-hundred day moving average price is $81.81. American International Group, Inc. has a one year low of $69.24 and a one year high of $88.07. The company has a market cap of $45.08 billion, a PE ratio of 15.41, a PEG ratio of 0.88 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.

American International Group (NYSE:AIG - Get Free Report) last released its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.21. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates 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 period last year, the business earned $1.16 earnings per share. On average, research analysts forecast that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Dividend Announcement

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