State Street Corp Purchases 196,969 Shares of American International Group, Inc. $AIG

Key Points

• State Street increased its AIG stake by 196,969 shares during the second quarter, bringing its holdings to 25.1 million shares worth approximately $1.87 billion, or 4.8% of the company. Institutional investors collectively own 90.6% of AIG.
• AIG reported quarterly earnings of $2.00 per share, exceeding analysts’ $1.92 estimate, although revenue of $7.08 billion fell short of the $7.25 billion forecast.
• AIG declared a quarterly dividend of $0.50 per share, equivalent to a 2.7% annual yield. Analysts maintain a consensus “Hold” rating with an average price target of $88.16, above the reported share price of $75.29.

State Street Corp boosted its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 0.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,115,416 shares of the insurance provider's stock after purchasing an additional 196,969 shares during the quarter. State Street Corp owned about 4.80% of American International Group worth $1,871,852,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. L2 Asset Management LLC raised its holdings in shares of American International Group by 4.8% in the second quarter. L2 Asset Management LLC now owns 3,046 shares of the insurance provider's stock valued at $227,000 after acquiring an additional 139 shares in the last quarter. Kestra Private Wealth Services LLC lifted its position in shares of American International Group by 1.3% in the 1st quarter. Kestra Private Wealth Services LLC now owns 11,048 shares of the insurance provider's stock worth $831,000 after purchasing an additional 146 shares during the period. CENTRAL TRUST Co lifted its position in shares of American International Group by 48.7% in the 1st quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider's stock worth $35,000 after purchasing an additional 151 shares during the period. Fisher Asset Management LLC boosted its stake in shares of American International Group by 4.2% during the fourth quarter. Fisher Asset Management LLC now owns 3,828 shares of the insurance provider's stock valued at $328,000 after purchasing an additional 156 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in shares of American International Group by 7.3% during the second quarter. Parkside Financial Bank & Trust now owns 2,333 shares of the insurance provider's stock valued at $174,000 after purchasing an additional 158 shares in the last quarter. 90.60% of the stock is owned by institutional investors.

Insider Buying and Selling

In other American International Group news, insider Peter Zaffino sold 36,829 shares of the business's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $76.14, for a total transaction of $2,804,160.06. Following the sale, the insider owned 556,004 shares in the company, valued at approximately $42,334,144.56. The trade was a 6.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company's stock.

American International Group Price Performance

Shares of AIG stock opened at $75.29 on Wednesday. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a market capitalization of $39.37 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 0.84 and a beta of 0.50. The stock's 50-day simple moving average is $77.20 and its 200-day simple moving average is $76.60.

American International Group (NYSE:AIG - Get Free Report) last released its earnings results on Friday, August 7th. The insurance provider reported $2.00 EPS for the quarter, topping analysts' consensus estimates of $1.92 by $0.08. American International Group had a net margin of 11.13% and a return on equity of 11.05%. The company had revenue of $7.08 billion during the quarter, compared to analysts' expectations of $7.25 billion. During the same period last year, the business earned $1.81 EPS. As a group, equities analysts forecast that American International Group, Inc. will post 8.02 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.7%. American International Group's dividend payout ratio (DPR) is 36.56%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AIG. Cantor Fitzgerald reduced their price objective on shares of American International Group from $92.00 to $90.00 and set an "overweight" rating for the company in a research note on Monday, August 17th. Keefe, Bruyette & Woods increased their target price on American International Group from $95.00 to $96.00 and gave the company an "outperform" rating in a research report on Tuesday, August 11th. Piper Sandler lifted their price target on American International Group from $80.00 to $84.00 and gave the company a "neutral" rating in a report on Monday, August 10th. The Goldman Sachs Group boosted their price target on American International Group from $85.00 to $88.00 and gave the stock a "buy" rating in a research report on Wednesday, July 1st. Finally, UBS Group upped their price objective on American International Group from $94.00 to $98.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Eight research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $88.16.

American International Group Company Profile

American International Group, Inc NYSE: AIG is a global insurance organization that provides commercial and personal insurance products and services. Through its General Insurance business, AIG offers property, casualty, liability, workers' compensation, accident, specialty, and other insurance solutions to businesses, institutions, and individuals.

AIG serves multinational corporations, small and midsize businesses, public-sector organizations, and individual policyholders through a network spanning numerous countries and jurisdictions.

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