Korea Investment CORP Has $45.53 Million Stake in American International Group, Inc. $AIG

Key Points

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Korea Investment CORP reduced its position in American International Group, Inc. (NYSE:AIG - Free Report) by 19.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 523,694 shares of the insurance provider's stock after selling 126,467 shares during the quarter. Korea Investment CORP owned about 0.09% of American International Group worth $45,530,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AIG. Ameriflex Group Inc. bought a new stake in shares of American International Group during the 4th quarter valued at approximately $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 valued at $33,000 after purchasing an additional 249 shares during 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 valued at $41,000 after purchasing an additional 142 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of American International Group during the 1st quarter valued at approximately $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 valued at $51,000 after purchasing an additional 519 shares during the last quarter. 90.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wall Street Zen lowered shares of American International Group from a "buy" rating to a "hold" rating in a report on Friday. Cfra Research raised shares of American International Group to a "moderate buy" rating in a report on Monday, August 11th. William Blair raised shares of American International Group to a "strong-buy" rating in a report on Friday, August 1st. Cantor Fitzgerald raised shares of American International Group to a "hold" rating in a report on Tuesday, August 12th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of American International Group from $97.00 to $91.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, American International Group currently has an average rating of "Moderate Buy" and an average price target of $88.27.

American International Group Trading Up 0.9%

NYSE:AIG traded up $0.7460 during mid-day trading on Friday, hitting $83.3360. 3,123,661 shares of the company's stock were exchanged, compared to its average volume of 4,071,157. The company has a 50 day simple moving average of $81.52 and a 200-day simple moving average of $81.59. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a fifty-two week low of $69.24 and a fifty-two week high of $88.07. The firm has a market capitalization of $46.17 billion, a P/E ratio of 15.78, a PEG ratio of 0.88 and a beta of 0.63.

American International Group (NYSE:AIG - Get Free Report) last posted its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 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 business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period last year, the company earned $1.16 EPS. As a group, research analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, September 16th. This represents a $1.80 annualized dividend and a yield of 2.2%. American International Group's dividend payout ratio (DPR) is currently 34.09%.

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.