Quantitative Investment Management LLC Buys New Position in American International Group, Inc. $AIG

Key Points

• Quantitative Investment Management LLC has acquired a new stake in American International Group, purchasing 24,089 shares valued at approximately $2.1 million.
• American International Group's stock has received upgrades from multiple analysts, with a current average price target of $88.27 and ratings ranging from "Strong Buy" to "Hold."
• The company also announced a quarterly dividend of $0.45 per share, with a dividend yield of 2.2%, to be paid on September 30th.

Quantitative Investment Management LLC bought a new stake in American International Group, Inc. (NYSE:AIG - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 24,089 shares of the insurance provider's stock, valued at approximately $2,094,000.

A number of other large investors have also recently made changes to their positions in the company. Ameriflex Group Inc. acquired a new stake in American International Group during the 4th quarter worth approximately $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 worth $33,000 after acquiring 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 worth $41,000 after acquiring an additional 142 shares during the period. NBC Securities Inc. acquired a new stake in American International Group during the 1st quarter worth approximately $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 worth $51,000 after acquiring an additional 519 shares during the period. 90.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on AIG. Cantor Fitzgerald raised American International Group to a "hold" rating in a research report on Tuesday, August 12th. Citigroup initiated coverage on American International Group in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $85.00 price target on the stock. William Blair upgraded American International Group to a "strong-buy" rating in a research note on Friday, August 1st. Morgan Stanley lifted their price target on American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Finally, Barclays lifted their price target on American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $88.27.

American International Group Stock Up 0.9%

Shares of NYSE:AIG opened at $83.3360 on Monday. 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, Inc. has a 52-week low of $69.24 and a 52-week high of $88.07. The stock's fifty day simple moving average is $81.52 and its 200-day simple moving average is $81.70. The company has a market capitalization of $46.17 billion, a P/E ratio of 15.78, a P/E/G ratio of 0.89 and a beta of 0.63.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.21. American International Group had a return on equity of 7.88% and a net margin of 11.51%.The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the prior year, the business earned $1.16 earnings per share. As a group, equities research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, September 16th. American International Group's dividend payout ratio 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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