Russell Investments Group Ltd. Has $99.22 Million Stake in American International Group, Inc. (NYSE:AIG)

Key Points

• Russell Investments Group Ltd. raised its holdings in American International Group (AIG) by 44.8% during the first quarter, owning approximately 1,155,203 shares valued at $99.2 million.
• The net margin for AIG was reported at 11.51%, with earnings per share (EPS) of $1.81 for the last quarter, surpassing analysts' expectations.
• AIG's quarterly dividend of $0.45 will be payable on September 30th, 2023, representing an annual yield of 2.3%.

Russell Investments Group Ltd. raised its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 44.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,155,203 shares of the insurance provider's stock after acquiring an additional 357,443 shares during the period. Russell Investments Group Ltd. owned about 0.20% of American International Group worth $99,219,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of AIG. Wealth Enhancement Advisory Services LLC boosted its stake in American International Group by 175.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 181,810 shares of the insurance provider's stock worth $15,807,000 after purchasing an additional 115,706 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in American International Group by 2.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,625 shares of the insurance provider's stock worth $1,445,000 after purchasing an additional 355 shares in the last quarter. IFP Advisors Inc boosted its stake in American International Group by 34.9% in the first quarter. IFP Advisors Inc now owns 2,882 shares of the insurance provider's stock worth $251,000 after purchasing an additional 745 shares in the last quarter. GAMMA Investing LLC boosted its stake in American International Group by 18.6% in the first quarter. GAMMA Investing LLC now owns 13,187 shares of the insurance provider's stock worth $1,146,000 after purchasing an additional 2,069 shares in the last quarter. Finally, AIA Group Ltd boosted its stake in American International Group by 169.6% in the first quarter. AIA Group Ltd now owns 10,368 shares of the insurance provider's stock worth $901,000 after purchasing an additional 6,523 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors.

American International Group Stock Down 0.2%

Shares of NYSE:AIG traded down $0.20 during mid-day trading on Friday, reaching $80.11. 3,437,812 shares of the stock were exchanged, compared to its average volume of 4,299,072. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. The company has a market cap 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 one year low of $69.24 and a one year high of $88.07. The stock's 50 day simple moving average is $81.80 and its 200-day simple moving average is $81.36.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $0.21. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate 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 period last year, the company earned $1.16 earnings per share. As a group, equities research analysts predict that American International Group, Inc. will post 6.24 EPS 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 paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Tuesday, September 16th. American International Group's dividend payout ratio (DPR) is currently 34.09%.

Analysts Set New Price Targets

AIG has been the topic of a number of recent analyst reports. Citigroup began coverage on American International Group in a research note on Wednesday. They issued a "neutral" rating and a $85.00 price objective on the stock. Keefe, Bruyette & Woods cut their price target on American International Group from $97.00 to $91.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. William Blair raised American International Group to a "strong-buy" rating in a research note on Friday, August 1st. Cantor Fitzgerald raised American International Group to a "hold" rating in a research note on Tuesday, August 12th. Finally, Morgan Stanley upped 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. Nine 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, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $88.27.

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.