QRG Capital Management Inc. Has $10.82 Million Stock Position in American International Group, Inc. $AIG

Key Points

• QRG Capital Management Inc. has reduced its stake in American International Group, Inc. by 6.9%, now holding 126,360 shares valued at approximately $10.82 million.
• Recent updates from research firms show mixed ratings for AIG, with Piper Sandler lowering the target price to $88.00 while Weiss Ratings maintains a buy recommendation.
• AIG's stock is currently valued at $81.05 and has a dividend yield of 2.2%, with recent earnings per share reported at $1.81, surpassing analyst expectations.

QRG Capital Management Inc. trimmed its position in American International Group, Inc. (NYSE:AIG - Free Report) by 6.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 126,360 shares of the insurance provider's stock after selling 9,372 shares during the quarter. QRG Capital Management Inc.'s holdings in American International Group were worth $10,815,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sachetta LLC grew its position in shares of American International Group by 194.5% during the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock worth $33,000 after buying an additional 249 shares during the period. Barrett & Company Inc. acquired a new position in shares of American International Group during the 2nd quarter worth about $35,000. Hemington Wealth Management grew its position in shares of American International Group by 42.8% during the 1st quarter. Hemington Wealth Management now owns 474 shares of the insurance provider's stock worth $41,000 after buying an additional 142 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of American International Group during the 2nd quarter worth about $42,000. Finally, WPG Advisers LLC acquired a new position in shares of American International Group during the 1st quarter worth about $47,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AIG. Piper Sandler decreased their target price on American International Group from $96.00 to $88.00 and set an "overweight" rating for the company in a research report on Thursday. Citigroup began coverage on American International Group in a research report on Wednesday, August 13th. They set a "neutral" rating and a $85.00 target price for the company. Cantor Fitzgerald upgraded American International Group to a "hold" rating in a research report on Tuesday, August 12th. Weiss Ratings reiterated a "buy (b)" rating on shares of American International Group in a report on Saturday, September 27th. Finally, Wall Street Zen upgraded American International Group from a "hold" rating to a "buy" rating in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $88.31.

American International Group Trading Up 1.8%

NYSE:AIG opened at $81.05 on Friday. American International Group, Inc. has a fifty-two week low of $69.24 and a fifty-two week high of $88.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a market capitalization of $44.90 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 0.86 and a beta of 0.68. The business's 50-day simple moving average is $79.30 and its 200-day simple moving average is $81.69.

American International Group (NYSE:AIG - Get Free Report) last released its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.60 by $0.21. The firm had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.81 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same quarter in the previous year, the business posted $1.16 EPS. Sell-side analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

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

American International Group Company 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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