Norges Bank Acquires Shares of 7,443,394 American International Group, Inc. $AIG

Key Points

• Norges Bank disclosed a new fourth-quarter stake in American International Group, buying 7,443,394 shares valued at about $636.8 million, or 1.38% of the company.
• AIG reported Q1 earnings of $2.11 per share, beating estimates of $1.89, though revenue of $6.65 billion came in below expectations. Analysts now expect full-year EPS of 7.97.
• The insurer raised its quarterly dividend to $0.50 per share from $0.45, putting the annualized payout at $2.00 and the yield at 2.7%.

Norges Bank acquired a new stake in American International Group, Inc. (NYSE:AIG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,443,394 shares of the insurance provider's stock, valued at approximately $636,782,000. Norges Bank owned 1.38% of American International Group as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of AIG. Capital Research Global Investors increased its stake in American International Group by 79.6% in 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 buying an additional 12,645,616 shares during the period. Vanguard Group Inc. increased its stake in American International Group by 11.6% in 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 buying an additional 7,117,583 shares during the period. Wellington Management Group LLP boosted its position in shares of 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 worth $2,045,657,000 after purchasing an additional 1,899,203 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of 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 worth $805,529,000 after purchasing an additional 1,846,979 shares in the last quarter. Finally, Viking Global Investors LP purchased a new stake in shares of American International Group during the 2nd quarter worth $155,413,000. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Price Performance

American International Group stock opened at $74.26 on Monday. American International Group, Inc. has a 52 week low of $71.25 and a 52 week high of $87.46. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23. The firm's 50-day simple moving average is $76.12 and its 200 day simple moving average is $77.57. The firm has a market capitalization of $39.37 billion, a PE ratio of 13.10, a P/E/G ratio of 0.68 and a beta of 0.52.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, topping the consensus estimate 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 business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.03 billion. During the same period in the previous year, the firm earned $1.17 EPS. On average, equities research analysts predict that American International Group, Inc. will post 7.97 EPS for the current fiscal year.

American International Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be given a $0.50 dividend. The ex-dividend date is Monday, June 15th. This represents a $2.00 annualized dividend and a dividend yield of 2.7%. This is a boost from American International Group's previous quarterly dividend of $0.45. American International Group's payout ratio is presently 31.75%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AIG shares. Piper Sandler decreased their target price on shares of American International Group from $95.00 to $88.00 and set an "overweight" rating on the stock in a research report on Thursday, February 12th. BMO Capital Markets boosted their target price on shares of American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. Cantor Fitzgerald boosted their target price on shares of American International Group from $81.00 to $85.00 and gave the stock a "neutral" rating in a research report on Monday, May 4th. Barclays boosted their target price on shares of American International Group from $78.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Friday, May 1st. Finally, Wells Fargo & Company decreased their target price on shares of American International Group from $86.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $88.06.

About American International Group

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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