Invst LLC Makes New Investment in American International Group, Inc. $AIG

Key Points

• Invst LLC has acquired a new stake in American International Group, purchasing 8,475 shares valued at approximately $737,000 during the 1st quarter.
• American International Group recently reported $1.81 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $1.60, highlighting a positive financial performance.
• The company has declared a quarterly dividend of $0.45 per share, resulting in an annualized yield of 2.3%, with payment scheduled for September 30th.

Invst LLC purchased a new stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 8,475 shares of the insurance provider's stock, valued at approximately $737,000.

Other institutional investors also recently bought and sold shares of the company. GQG Partners LLC boosted its stake in American International Group by 33,315.0% during the first quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider's stock worth $1,643,995,000 after buying an additional 18,852,949 shares during the period. Nuveen LLC bought a new stake in shares of American International Group in the 1st quarter worth about $440,273,000. AQR Capital Management LLC boosted its stake in shares of American International Group by 184.4% during the 1st quarter. AQR Capital Management LLC now owns 3,335,040 shares of the insurance provider's stock worth $287,214,000 after purchasing an additional 2,162,545 shares during the period. Raymond James Financial Inc. boosted its stake in shares of American International Group by 151.6% during the 1st quarter. Raymond James Financial Inc. now owns 3,285,963 shares of the insurance provider's stock worth $285,682,000 after purchasing an additional 1,980,001 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in American International Group by 20.4% during the 1st quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider's stock valued at $974,840,000 after purchasing an additional 1,901,998 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AIG. Morgan Stanley raised their price objective on shares of 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. Citigroup started coverage on American International Group in a report on Wednesday, August 13th. They issued a "neutral" rating and a $85.00 price target on the stock. William Blair raised American International Group to a "strong-buy" rating in a research note on Friday, August 1st. Wall Street Zen upgraded American International Group from a "hold" rating to a "buy" rating in a report on Monday. Finally, Keefe, Bruyette & Woods reduced their target price on American International Group from $97.00 to $91.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.27.

American International Group Stock Down 2.4%

NYSE AIG traded down $1.92 on Monday, reaching $77.01. 5,193,097 shares of the stock traded hands, compared to its average volume of 3,721,506. American International Group, Inc. has a 12 month low of $69.24 and a 12 month high of $88.07. The company has a market cap of $42.66 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 0.84 and a beta of 0.70. The company has a fifty day moving average price of $80.22 and a 200-day moving average price of $82.09. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $0.21. The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.81 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same quarter in the prior year, the company earned $1.16 EPS. As a group, research analysts forecast that American International Group, Inc. will post 6.24 EPS for the current fiscal 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 given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. American International Group's dividend payout ratio (DPR) is 34.09%.

American International Group 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.