Mirae Asset Global Investments Co. Ltd. Acquires 15,116 Shares of American International Group, Inc. $AIG

Key Points

• Mirae Asset Global Investments increased its stake in American International Group by 20.5%, buying 15,116 shares to hold 88,932 shares worth about $7.61 million per its SEC filing.
• Several analysts have trimmed price targets on AIG recently, and the stock carries a consensus rating of Hold with an average price target of $86.76.
• Institutional ownership is high at 90.60%, with large managers like Vanguard and Capital Research substantially boosting positions (Vanguard ~68.48M shares; Capital Research ~28.53M shares).

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 20.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,932 shares of the insurance provider's stock after acquiring an additional 15,116 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in American International Group were worth $7,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in American International Group by 11.6% during the 3rd quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider's stock valued at $5,378,635,000 after acquiring an additional 7,117,583 shares during the period. Capital Research Global Investors raised its holdings in American International Group by 79.6% during the 3rd quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider's stock valued at $2,241,091,000 after acquiring an additional 12,645,616 shares during the period. Wellington Management Group LLP raised its holdings in American International Group by 7.9% during the 3rd quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider's stock valued at $2,045,657,000 after acquiring an additional 1,899,203 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in American International Group by 4.3% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 12,111,405 shares of the insurance provider's stock valued at $951,230,000 after acquiring an additional 499,330 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in American International Group by 22.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider's stock valued at $805,529,000 after acquiring an additional 1,846,979 shares during the period. Institutional investors own 90.60% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on AIG shares. Morgan Stanley reduced 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 research note on Monday, April 6th. Piper Sandler cut their price target on shares of American International Group from $95.00 to $88.00 and set an "overweight" rating for the company in a report on Thursday, February 12th. Evercore cut their price target on shares of American International Group from $90.00 to $85.00 in a report on Friday, January 23rd. JPMorgan Chase & Co. cut their price target on shares of American International Group from $97.00 to $86.00 and set a "neutral" rating for the company in a report on Monday. Finally, HSBC cut their price target on shares of American International Group from $90.00 to $89.00 and set a "buy" rating for the company in a report on Tuesday, April 7th. One research 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 company. According to MarketBeat.com, American International Group currently has a consensus rating of "Hold" and an average price target of $86.76.

American International Group Stock Down 0.2%

Shares of NYSE:AIG opened at $78.49 on Tuesday. The firm has a fifty day moving average price of $77.36 and a two-hundred day moving average price of $78.20. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61. American International Group, Inc. has a one year low of $71.25 and a one year high of $87.46. The company has a market cap of $42.14 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 0.60 and a beta of 0.59.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings results on Thursday, February 12th. The insurance provider reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.90 by $0.06. The firm had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.99 billion. American International Group had a net margin of 11.56% and a return on equity of 9.79%. During the same quarter in the prior year, the firm earned $1.30 EPS. Analysts anticipate that American International Group, Inc. will post 7.79 EPS for the current fiscal year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 16th were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. American International Group's dividend payout ratio is presently 33.21%.

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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