Kestra Advisory Services LLC Has $5.15 Million Position in American International Group, Inc. $AIG

Key Points

• Kestra Advisory Services increased its stake in American International Group by 27.3% in Q1, ending with 68,395 shares valued at about $5.15 million.
• Wall Street sentiment is mixed but generally cautious: analysts have a Hold consensus on AIG, with an average price target of $88 even as some firms recently raised or trimmed their targets.
• AIG reported better-than-expected earnings of $2.11 per share for the quarter, and it also raised its dividend to $0.50 per share, implying a 2.6% annual yield.

Kestra Advisory Services LLC boosted its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 27.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,395 shares of the insurance provider's stock after acquiring an additional 14,681 shares during the period. Kestra Advisory Services LLC's holdings in American International Group were worth $5,147,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Munich Reinsurance Co Stock Corp in Munich grew its holdings in shares of American International Group by 22.7% during the 1st quarter. Munich Reinsurance Co Stock Corp in Munich now owns 758,935 shares of the insurance provider's stock worth $57,110,000 after purchasing an additional 140,513 shares in the last quarter. R Squared Ltd acquired a new position in American International Group in the first quarter valued at about $402,000. Resonant Capital Advisors LLC raised its stake in American International Group by 35.2% in the first quarter. Resonant Capital Advisors LLC now owns 3,538 shares of the insurance provider's stock valued at $266,000 after purchasing an additional 921 shares in the last quarter. United Asset Strategies Inc. lifted its position in American International Group by 3.4% during the first quarter. United Asset Strategies Inc. now owns 134,307 shares of the insurance provider's stock worth $10,107,000 after purchasing an additional 4,375 shares during the period. Finally, Swedbank AB lifted its position in American International Group by 10.4% during the first quarter. Swedbank AB now owns 1,433,251 shares of the insurance provider's stock worth $107,852,000 after purchasing an additional 135,156 shares during the period. 90.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Barclays raised their target price on shares of American International Group from $78.00 to $80.00 and gave the company an "equal weight" rating in a report on Friday, May 1st. Keefe, Bruyette & Woods cut their price target on shares of American International Group from $98.00 to $95.00 and set an "outperform" rating for the company in a report on Wednesday, July 8th. Weiss Ratings upgraded shares of American International Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 2nd. Mizuho lifted their price objective on shares of American International Group from $86.00 to $89.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Finally, The Goldman Sachs Group boosted their price objective on shares of American International Group from $85.00 to $88.00 and gave the company a "buy" rating in a research report on Wednesday, July 1st. 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 MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $88.00.

American International Group Stock Down 2.9%

AIG stock opened at $76.70 on Thursday. The firm has a 50-day moving average price of $76.31 and a 200-day moving average price of $76.75. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $87.29. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $40.67 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 0.72 and a beta of 0.53.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.22. The company had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.03 billion. American International Group had a net margin of 11.86% and a return on equity of 10.93%. During the same period in the previous year, the firm posted $1.17 EPS. As a group, equities research analysts anticipate that American International Group, Inc. will post 8 EPS for the current fiscal year.

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were given a $0.50 dividend. This is an increase from American International Group's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Monday, June 15th. American International Group's dividend payout ratio (DPR) is 35.27%.

American International Group Company Profile

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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