Nuveen LLC Invests $440.27 Million in American International Group, Inc. (NYSE:AIG)

Key Points

• Nuveen LLC has invested approximately $440.27 million in American International Group (NYSE:AIG), acquiring over 5 million shares and holding 0.88% of the company.
• American International Group recently reported $1.81 earnings per share for the last quarter, exceeding analysts' expectations, while revenue was slightly below projections at $6.77 billion.
• The company declared a quarterly dividend of $0.45 per share, reflecting an annualized yield of 2.3%, with the payment date set for September 30th.

Nuveen LLC acquired a new position in shares of American International Group, Inc. (NYSE:AIG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,064,099 shares of the insurance provider's stock, valued at approximately $440,273,000. Nuveen LLC owned approximately 0.88% of American International Group at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC bought a new position in shares of American International Group in the 4th quarter worth about $1,091,000. Rockefeller Capital Management L.P. lifted its position in shares of American International Group by 1.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 31,151 shares of the insurance provider's stock worth $2,268,000 after buying an additional 554 shares during the last quarter. Townsquare Capital LLC lifted its position in shares of American International Group by 0.3% in the 4th quarter. Townsquare Capital LLC now owns 109,230 shares of the insurance provider's stock worth $7,952,000 after buying an additional 308 shares during the last quarter. Sagespring Wealth Partners LLC bought a new position in shares of American International Group in the 4th quarter worth about $300,000. Finally, TT Capital Management LLC bought a new position in shares of American International Group in the 4th quarter worth about $2,258,000. 90.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AIG. Wall Street Zen upgraded shares of American International Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. William Blair upgraded shares of American International Group to a "strong-buy" rating in a research report on Friday, August 1st. Morgan Stanley raised their price target on shares of American International Group from $81.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Wells Fargo & Company raised their price target on shares of American International Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Finally, Barclays lifted their price objective on shares of American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $88.27.

American International Group Price Performance

Shares of AIG stock traded up $0.16 during midday trading on Friday, reaching $80.47. 1,082,066 shares of the company were exchanged, compared to its average volume of 4,551,324. American International Group, Inc. has a 12 month low of $69.24 and a 12 month high of $88.07. The company has a market cap of $44.58 billion, a P/E ratio of 15.24, a PEG ratio of 0.86 and a beta of 0.63. The company's 50 day moving average price is $81.95 and its two-hundred day moving average price is $81.28. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, topping 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 company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the previous year, the firm earned $1.16 EPS. On average, sell-side analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, September 16th. American International Group's payout ratio is 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.