Prudential PLC Has $1.01 Million Holdings in American International Group, Inc. (NYSE:AIG)

Key Points

• Prudential PLC reduced its stake in American International Group, Inc. (AIG) by 58.1%, leaving it with 11,642 shares valued at $1.01 million as of the latest SEC filing.
• AIG has received several ratings updates, including a "buy" rating from Wall Street Zen and a lowered price target from Keefe, Bruyette & Woods from $97 to $91.
• The company declared a quarterly dividend of $0.45 per share, indicating a 2.2% dividend yield for investors, with the dividend payout ratio standing at 34.09%.

Prudential PLC cut its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 58.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,642 shares of the insurance provider's stock after selling 16,164 shares during the period. Prudential PLC's holdings in American International Group were worth $1,012,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in AIG. Ameriflex Group Inc. acquired a new position in American International Group during the 4th quarter valued at about $29,000. Sachetta LLC lifted its position in American International Group by 194.5% during the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 249 shares during the period. Hemington Wealth Management lifted its position in American International Group by 42.8% during the 1st quarter. Hemington Wealth Management now owns 474 shares of the insurance provider's stock valued at $41,000 after purchasing an additional 142 shares during the period. NBC Securities Inc. acquired a new position in American International Group during the 1st quarter valued at about $47,000. Finally, SouthState Corp lifted its position in American International Group by 798.5% during the 1st quarter. SouthState Corp now owns 584 shares of the insurance provider's stock valued at $51,000 after purchasing an additional 519 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AIG. Citigroup began coverage on American International Group in a research note on Wednesday. They issued a "neutral" rating and a $85.00 price target for the company. Wall Street Zen raised American International Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Keefe, Bruyette & Woods lowered their price target on American International Group from $97.00 to $91.00 and set an "outperform" rating for the company in a research note on Tuesday. Wells Fargo & Company upped their price target on American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Finally, William Blair raised American International Group to a "strong-buy" rating in a research note on Friday, August 1st. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, American International Group presently has a consensus rating of "Moderate Buy" and an average target price of $88.27.

American International Group Price Performance

Shares of AIG opened at $80.11 on Friday. The stock has a market capitalization of $44.38 billion, a P/E ratio of 15.17, a P/E/G ratio of 0.86 and a beta of 0.63. American International Group, Inc. has a twelve month low of $69.24 and a twelve month high of $88.07. The company has a 50 day moving average of $81.80 and a 200-day moving average of $81.32. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.21. The company had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.81 billion. American International Group had a net margin of 11.51% and a return on equity of 7.88%. During the same period last year, the business earned $1.16 EPS. As a group, equities research analysts forecast that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 16th. American International Group's dividend payout ratio (DPR) is currently 34.09%.

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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