Levin Capital Strategies L.P. Raises Position in American International Group, Inc. $AIG

Key Points

• Levin Capital Strategies increased its stake in American International Group by 61.6% in the first quarter, adding 71,474 shares and bringing its total holdings to 187,522 shares worth about $14.1 million.
• Several other institutional investors also added to or initiated positions in AIG, and the stock remains heavily institutionally owned at 90.6%.
• AIG topped earnings expectations with Q1 EPS of $2.11 versus $1.89 expected, and it also raised its quarterly dividend to $0.50 per share from $0.45.

Levin Capital Strategies L.P. boosted its position in American International Group, Inc. (NYSE:AIG - Free Report) by 61.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 187,522 shares of the insurance provider's stock after purchasing an additional 71,474 shares during the period. Levin Capital Strategies L.P.'s holdings in American International Group were worth $14,111,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Modus Advisors LLC bought a new stake in shares of American International Group in the fourth quarter valued at $27,000. Navalign LLC bought a new position in shares of American International Group during the 4th quarter worth $29,000. Mcguire Capital Advisors Inc. purchased a new stake in American International Group in the 4th quarter worth about $29,000. SHP Wealth Management purchased a new stake in American International Group in the 4th quarter worth about $34,000. Finally, CENTRAL TRUST Co raised its stake in American International Group by 48.7% in the 1st quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider's stock valued at $35,000 after acquiring an additional 151 shares during the period. 90.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AIG has been the subject of a number of research reports. Keefe, Bruyette & Woods cut their target price on shares of American International Group from $98.00 to $95.00 and set an "outperform" rating for the company in a research report on Wednesday, July 8th. The Goldman Sachs Group boosted their price target 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. Piper Sandler restated a "neutral" rating and set a $80.00 price target (down from $88.00) on shares of American International Group in a research note on Wednesday, July 15th. Morgan Stanley cut their price objective on shares of American International Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a report on Monday, April 6th. Finally, Cantor Fitzgerald upgraded shares of American International Group from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $85.00 to $92.00 in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $88.22.

American International Group Stock Down 2.4%

AIG stock opened at $78.28 on Thursday. The stock has a 50-day simple moving average of $76.63 and a two-hundred day simple moving average of $76.52. American International Group, Inc. has a twelve month low of $71.25 and a twelve month high of $87.29. The firm has a market capitalization of $41.50 billion, a PE ratio of 13.81, a PEG ratio of 0.73 and a beta of 0.53. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23.

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, topping analysts' consensus estimates of $1.89 by $0.22. American International Group had a net margin of 11.86% and a return on equity of 10.93%. The firm had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $7.03 billion. During the same period in the prior year, the firm posted $1.17 earnings per share. On average, equities analysts predict that American International Group, Inc. will post 8 EPS for the current fiscal year.

American International Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were issued a dividend of $0.50 per share. This is a boost from American International Group's previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. American International Group's payout ratio is currently 35.27%.

American International Group 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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