Jupiter Asset Management Ltd. Buys Shares of 71,581 American International Group, Inc. $AIG

Key Points

• Jupiter Asset Management bought a new position of 71,581 shares of AIG in Q2, valued at about $6.13 million, while institutional investors collectively own roughly 90.6% of the stock.
• AIG reported quarterly EPS of $2.20 (beating the $1.57 estimate) but revenue of $6.35 billion missed expectations; the company also declared a quarterly dividend of $0.45 ($1.80 annual, ~2.3% yield) with an ex-dividend date of Dec. 16.
• Analysts have a consensus rating of "Moderate Buy" with an average target of $90, and UBS recently raised its price target to $94.

Jupiter Asset Management Ltd. bought a new position in shares of American International Group, Inc. (NYSE:AIG - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 71,581 shares of the insurance provider's stock, valued at approximately $6,127,000.

Several other hedge funds and other institutional investors have also modified their holdings of AIG. Sachetta LLC grew its position 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 valued at $33,000 after buying an additional 249 shares during the last quarter. GFG Capital LLC acquired a new position in American International Group in the second quarter valued at approximately $33,000. Barrett & Company Inc. bought a new position in shares of American International Group during the second quarter valued at approximately $35,000. NewSquare Capital LLC raised its position in shares of American International Group by 58.6% during the 2nd quarter. NewSquare Capital LLC now owns 417 shares of the insurance provider's stock worth $36,000 after purchasing an additional 154 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of American International Group in the 2nd quarter worth approximately $40,000. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Price Performance

Shares of NYSE AIG opened at $78.28 on Friday. The stock has a market cap of $42.24 billion, a P/E ratio of 14.83, a P/E/G ratio of 0.77 and a beta of 0.73. The firm's 50-day simple moving average is $78.81 and its 200 day simple moving average is $81.07. American International Group, Inc. has a fifty-two week low of $69.24 and a fifty-two week high of $88.07. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG - Get Free Report) last announced its earnings results on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.63. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the prior year, the firm posted $1.23 EPS. Equities analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 16th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, December 16th. American International Group's dividend payout ratio (DPR) is currently 32.73%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AIG shares. UBS Group boosted their price objective on American International Group from $90.00 to $94.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of American International Group from a "buy" rating to a "hold" rating in a report on Saturday, November 8th. Wells Fargo & Company upped their price target on shares of American International Group from $82.00 to $83.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Wolfe Research started coverage on shares of American International Group in a report on Tuesday, September 16th. They issued a "peer perform" rating on the stock. Finally, Citigroup started coverage on shares of American International Group in a research note on Wednesday, August 13th. They set a "neutral" rating and a $85.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $90.00.

About American International Group

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.

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