GQG Partners LLC Has $1.64 Billion Holdings in American International Group, Inc. (NYSE:AIG)

Key Points

• GQG Partners LLC increased its stake in American International Group, Inc. (NYSE:AIG) by an astonishing 33,315.0%, acquiring a total of 18,909,539 shares valued at approximately $1.64 billion.
• American International Group reported $1.81 earnings per share for the last quarter, exceeding analysts' expectations, although its revenue fell short of projections at $6.77 billion.
• The company announced a quarterly dividend of $0.45, yielding 2.3%, with dividends scheduled to be paid on September 30th to shareholders recorded by September 16th.

GQG Partners LLC raised its position in American International Group, Inc. (NYSE:AIG - Free Report) by 33,315.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,909,539 shares of the insurance provider's stock after buying an additional 18,852,949 shares during the quarter. American International Group accounts for 2.6% of GQG Partners LLC's holdings, making the stock its 11th biggest holding. GQG Partners LLC owned 3.28% of American International Group worth $1,643,995,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AIG. Ameriflex Group Inc. acquired a new stake in shares of American International Group during the 4th quarter worth $29,000. Sachetta LLC grew its holdings 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 purchasing an additional 249 shares in the last quarter. Hemington Wealth Management grew its holdings in shares of 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 in the last quarter. NBC Securities Inc. acquired a new stake in shares of American International Group during the 1st quarter worth $47,000. Finally, SouthState Corp grew 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 purchasing an additional 519 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AIG. William Blair raised American International Group to a "strong-buy" rating in a report on Friday, August 1st. Keefe, Bruyette & Woods reduced their price objective on American International Group from $97.00 to $91.00 and set an "outperform" rating on the stock in a research note on Tuesday. Cantor Fitzgerald raised American International Group to a "hold" rating in a research note on Tuesday. Wells Fargo & Company raised their price objective on American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Finally, Citigroup initiated coverage on American International Group in a research note on Wednesday. They issued a "neutral" rating and a $85.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.27.

American International Group Trading Down 0.2%

Shares of AIG traded down $0.20 during mid-day trading on Friday, reaching $80.11. 3,437,812 shares of the company were exchanged, compared to its average volume of 4,299,072. The business has a 50 day simple moving average of $81.95 and a two-hundred day simple moving average of $81.28. 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 stock has a market capitalization of $44.38 billion, a PE ratio of 15.17, a PEG ratio of 0.86 and a beta of 0.63. American International Group, Inc. has a 52 week low of $69.24 and a 52 week high of $88.07.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.21. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same quarter last year, the business earned $1.16 EPS. On average, analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 16th. American International Group's payout ratio is currently 34.09%.

American International Group Company 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.