Eurizon Capital SGR S.p.A. Acquires New Holdings in American International Group, Inc. $AIG

Key Points

• Eurizon Capital SGR S.p.A. opened a new position in American International Group, buying 159,467 shares valued at about $13.6 million in the fourth quarter.
• AIG continues to attract heavy institutional ownership, with major investors like Vanguard, Capital Research Global Investors, and Wellington Management all increasing their stakes; institutions and hedge funds now hold 90.6% of the stock.
• The company posted strong quarterly earnings of $2.11 per share, beating estimates, and it raised its quarterly dividend to $0.50 per share from $0.45, implying a 2.7% annual yield.

Eurizon Capital SGR S.p.A. acquired a new stake in American International Group, Inc. (NYSE:AIG - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 159,467 shares of the insurance provider's stock, valued at approximately $13,645,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of American International Group by 11.6% in the 3rd quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider's stock valued at $5,378,635,000 after purchasing an additional 7,117,583 shares during the period. Capital Research Global Investors grew its position in shares of American International Group by 79.6% in the 3rd quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider's stock valued at $2,241,091,000 after purchasing an additional 12,645,616 shares during the period. Wellington Management Group LLP grew its position in shares of American International Group by 7.9% in the 3rd quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider's stock valued at $2,045,657,000 after purchasing an additional 1,899,203 shares during the period. Diamond Hill Capital Management Inc. grew its position in shares of American International Group by 4.3% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 12,111,405 shares of the insurance provider's stock valued at $951,230,000 after purchasing an additional 499,330 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its position in shares of American International Group by 22.0% in 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 purchasing an additional 1,846,979 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Trading Up 0.0%

Shares of American International Group stock opened at $74.26 on Monday. American International Group, Inc. has a 12-month low of $71.25 and a 12-month high of $87.46. The stock has a market cap of $39.37 billion, a P/E ratio of 13.10, a P/E/G ratio of 0.68 and a beta of 0.52. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23. The business's 50 day moving average is $76.12 and its 200-day moving average is $77.57.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $6.65 billion for the quarter, compared to analysts' expectations of $7.03 billion. During the same quarter in the prior year, the business posted $1.17 EPS. Equities research analysts predict that American International Group, Inc. will post 7.97 earnings per share for the current fiscal year.

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.7%. This is an increase from American International Group's previous quarterly dividend of $0.45. American International Group's dividend payout ratio (DPR) is currently 31.75%.

Wall Street Analysts Forecast Growth

AIG has been the topic of several research reports. JPMorgan Chase & Co. cut their target price on American International Group from $97.00 to $86.00 and set a "neutral" rating on the stock in a research note on Monday, April 20th. 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. BMO Capital Markets boosted their target price on American International Group from $83.00 to $89.00 in a research note on Thursday, May 7th. UBS Group boosted their target price on American International Group from $92.00 to $94.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Finally, Morgan Stanley cut their target price on American International Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $88.06.

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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