Mirae Asset Global Investments Co. Ltd. Buys 6,853 Shares of American International Group, Inc. $AIG

Key Points

• Mirae Asset Global Investments increased its stake in American International Group (AIG) by 11.2%, acquiring an additional 6,853 shares, bringing its total holdings to 68,085 shares valued at approximately $5.83 million.
• Several institutional investors have also significantly raised their positions in AIG, including GQG Partners with a 33,315% increase, boosting its holdings to nearly 18.9 million shares worth about $1.64 billion.
• AIG reported earnings of $1.81 per share for the last quarter, exceeding estimates, while the company also announced a quarterly dividend of $0.45 per share, marking a dividend yield of 2.2%.

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 11.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68,085 shares of the insurance provider's stock after purchasing an additional 6,853 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in American International Group were worth $5,827,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. GQG Partners LLC raised its holdings in American International Group by 33,315.0% in the 1st quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider's stock worth $1,643,995,000 after acquiring an additional 18,852,949 shares during the period. Nuveen LLC bought a new position in shares of American International Group in the first quarter worth about $440,273,000. AQR Capital Management LLC lifted its position in shares of American International Group by 184.4% during the 1st quarter. AQR Capital Management LLC now owns 3,335,040 shares of the insurance provider's stock worth $287,214,000 after purchasing an additional 2,162,545 shares during the last quarter. Raymond James Financial Inc. boosted its stake in American International Group by 151.6% during the 1st quarter. Raymond James Financial Inc. now owns 3,285,963 shares of the insurance provider's stock valued at $285,682,000 after purchasing an additional 1,980,001 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in American International Group by 20.4% in the 1st quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider's stock valued at $974,840,000 after buying an additional 1,901,998 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Price Performance

NYSE:AIG opened at $83.00 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63. The company has a 50-day moving average of $79.37 and a 200-day moving average of $81.67. American International Group, Inc. has a 52 week low of $69.24 and a 52 week high of $88.07. The company has a market capitalization of $45.98 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 0.87 and a beta of 0.68.

American International Group (NYSE:AIG - Get Free Report) last posted its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $6.81 billion. During the same quarter in the previous year, the firm posted $1.16 earnings per share. As a group, equities research analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. American International Group's dividend payout ratio is presently 34.09%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AIG. Evercore ISI upped their price target on American International Group from $89.00 to $90.00 and gave the stock an "in-line" rating in a report on Wednesday, October 1st. 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. Cfra Research upgraded shares of American International Group to a "moderate buy" rating in a research report on Monday, August 11th. Wall Street Zen upgraded shares of American International Group from a "hold" rating to a "buy" rating in a report on Friday. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of American International Group in a research note on Saturday, September 27th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $88.25.

American International Group Profile

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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