Bank of New York Mellon Corp Has $619.86 Million Stock Position in American International Group, Inc. $AIG

Key Points

• Bank of New York Mellon increased its AIG stake by 6.1% in Q1, ending with 8.24 million shares worth about $619.9 million, or roughly 1.53% of the insurer.
• Analyst sentiment is mixed: recent target-price cuts from several firms were offset by Cantor Fitzgerald’s upgrade, and the stock’s consensus rating remains Hold with an average price target of $88.
• AIG posted Q1 EPS of $2.11, beating estimates, and recently raised its quarterly dividend to $0.50 per share, implying a 2.6% annual yield.

Bank of New York Mellon Corp increased its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 6.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,237,375 shares of the insurance provider's stock after acquiring an additional 474,035 shares during the period. Bank of New York Mellon Corp owned about 1.53% of American International Group worth $619,862,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in AIG. Checchi Capital Advisers LLC lifted its stake in American International Group by 17.7% during the 1st quarter. Checchi Capital Advisers LLC now owns 5,873 shares of the insurance provider's stock valued at $442,000 after acquiring an additional 885 shares in the last quarter. Hartford Funds Management Co LLC boosted its holdings in American International Group by 3.6% during the first quarter. Hartford Funds Management Co LLC now owns 13,078 shares of the insurance provider's stock worth $984,000 after purchasing an additional 452 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in American International Group by 21.3% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 42,366 shares of the insurance provider's stock worth $3,188,000 after purchasing an additional 7,432 shares in the last quarter. Chicago Partners Investment Group LLC increased its stake in American International Group by 87.4% in the 1st quarter. Chicago Partners Investment Group LLC now owns 6,238 shares of the insurance provider's stock valued at $474,000 after buying an additional 2,910 shares during the last quarter. Finally, Diversify Wealth Management LLC increased its stake in American International Group by 59.7% in the 1st quarter. Diversify Wealth Management LLC now owns 10,406 shares of the insurance provider's stock valued at $768,000 after buying an additional 3,889 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company's stock.

Analyst Ratings Changes

AIG has been the topic of a number of research analyst reports. Bank of America cut their target price on American International Group from $80.00 to $79.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 14th. Morgan Stanley decreased their price target on American International Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research report on Monday, April 6th. JPMorgan Chase & Co. dropped their price target on American International Group from $97.00 to $86.00 and set a "neutral" rating on the stock in a report on Monday, April 20th. Cantor Fitzgerald upgraded American International Group from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $85.00 to $92.00 in a research note on Thursday, July 9th. Finally, Mizuho raised their target price on American International Group from $86.00 to $89.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, American International Group currently has an average rating of "Hold" and an average price target of $88.00.

American International Group Price Performance

Shares of NYSE AIG opened at $77.91 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23. The stock has a fifty day simple moving average of $76.34 and a two-hundred day simple moving average of $76.69. American International Group, Inc. has a 1-year low of $71.25 and a 1-year high of $87.29. The firm has a market cap of $41.31 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 0.70 and a beta of 0.53.

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, beating the consensus estimate of $1.89 by $0.22. The firm had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.03 billion. American International Group had a return on equity of 10.93% and a net margin of 11.86%.During the same period in the previous year, the company posted $1.17 earnings per share. Analysts anticipate that American International Group, Inc. will post 8 earnings per share for the current year.

American International Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.6%. This is a boost from American International Group's previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Monday, June 15th. American International Group's payout ratio is currently 35.27%.

American International Group Profile

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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