Engineers Gate Manager LP Increases Stock Holdings in American International Group, Inc. $AIG

Key Points

• Engineers Gate Manager LP increased its AIG stake by 993.9% during the second quarter, adding 239,796 shares to own 263,922 shares valued at approximately $19.7 million. Institutional investors collectively own 90.6% of AIG.
• AIG reported quarterly EPS of $2.00, exceeding analyst expectations of $1.92, though revenue of $7.08 billion fell short of the $7.25 billion consensus estimate.
• AIG declared a quarterly dividend of $0.50 per share, equivalent to an annualized $2.00 dividend and a 2.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $88.37.

Engineers Gate Manager LP grew its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 993.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 263,922 shares of the insurance provider's stock after purchasing an additional 239,796 shares during the quarter. Engineers Gate Manager LP owned approximately 0.05% of American International Group worth $19,670,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AIG. Modus Advisors LLC purchased a new position in shares of American International Group in the fourth quarter worth approximately $27,000. Navalign LLC purchased a new stake in American International Group during the fourth quarter valued at approximately $29,000. Mcguire Capital Advisors Inc. bought a new position in American International Group in the fourth quarter worth approximately $29,000. First Bancorp Inc ME bought a new position in American International Group in the second quarter worth approximately $30,000. Finally, SHP Wealth Management purchased a new position in shares of American International Group during the 4th quarter worth $34,000. Institutional investors own 90.60% of the company's stock.

American International Group Stock Performance

NYSE AIG opened at $75.01 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61. American International Group, Inc. has a 1-year low of $71.25 and a 1-year high of $87.29. The business has a 50 day simple moving average of $77.95 and a two-hundred day simple moving average of $76.89. The stock has a market capitalization of $39.22 billion, a PE ratio of 13.71, a P/E/G ratio of 0.84 and a beta of 0.50.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.08. The business had revenue of $7.08 billion for the quarter, compared to analysts' expectations of $7.25 billion. American International Group had a return on equity of 11.05% and a net margin of 11.13%.During the same period in the prior year, the firm earned $1.81 EPS. On average, research analysts predict that American International Group, Inc. will post 8.02 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.7%. American International Group's dividend payout ratio is presently 36.56%.

Insider Transactions at American International Group

In other American International Group news, insider Peter Zaffino sold 36,829 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $76.14, for a total transaction of $2,804,160.06. Following the completion of the transaction, the insider owned 556,004 shares in the company, valued at $42,334,144.56. This trade represents a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AIG has been the subject of a number of recent research reports. Argus reissued a "buy" rating and set a $90.00 price objective on shares of American International Group in a research report on Wednesday, September 2nd. Mizuho lifted 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. Piper Sandler boosted their price target on American International Group from $80.00 to $84.00 and gave the company a "neutral" rating in a report on Monday, August 10th. Weiss Ratings upgraded American International Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 2nd. Finally, JPMorgan Chase & Co. raised their price objective on American International Group from $86.00 to $90.00 and gave the stock a "neutral" rating in a research note on Monday, July 20th. Eight research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $88.37.

About American International Group

American International Group, Inc NYSE: AIG is a global insurance organization that provides commercial and personal insurance products and services. Through its General Insurance business, AIG offers property, casualty, liability, workers' compensation, accident, specialty, and other insurance solutions to businesses, institutions, and individuals.

AIG serves multinational corporations, small and midsize businesses, public-sector organizations, and individual policyholders through a network spanning numerous countries and jurisdictions.

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