Strs Ohio Invests $22.28 Million in American International Group, Inc. $AIG

Key Points

• Strs Ohio has invested approximately $22.28 million in American International Group, acquiring 256,251 shares of the insurance provider's stock.
• The company's recent quarterly earnings report showed $1.81 earnings per share, surpassing analysts' estimates, with revenue reported at $6.77 billion.
• AIG has declared a quarterly dividend of $0.45 per share, translating to an annualized dividend yield of 2.3%, payable on September 30th.

Strs Ohio acquired a new position in shares of American International Group, Inc. (NYSE:AIG - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 256,251 shares of the insurance provider's stock, valued at approximately $22,278,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AIG. GQG Partners LLC lifted its holdings in shares of American International Group by 33,315.0% during the 1st quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider's stock worth $1,643,995,000 after acquiring an additional 18,852,949 shares during the period. Nuveen LLC bought a new position in American International Group during the 1st quarter valued at about $440,273,000. AQR Capital Management LLC lifted its holdings in American International Group by 184.4% during the 1st quarter. AQR Capital Management LLC now owns 3,335,040 shares of the insurance provider's stock valued at $287,214,000 after purchasing an additional 2,162,545 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in American International Group by 151.6% during the 1st quarter. Raymond James Financial Inc. now owns 3,285,963 shares of the insurance provider's stock valued at $285,682,000 after purchasing an additional 1,980,001 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in American International Group by 20.4% during the 1st quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider's stock valued at $974,840,000 after purchasing an additional 1,901,998 shares during the last quarter. 90.60% of the stock is owned by institutional investors.

American International Group Trading Up 0.2%

AIG opened at $78.90 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $43.71 billion, a PE ratio of 14.94, a PEG ratio of 0.84 and a beta of 0.70. The firm has a 50-day moving average price of $80.34 and a two-hundred day moving average price of $82.08. American International Group, Inc. has a 1-year low of $69.24 and a 1-year high of $88.07.

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, topping analysts' consensus estimates of $1.60 by $0.21. The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $1.16 earnings per share. As a group, equities analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 16th. American International Group's payout ratio is 34.09%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AIG. Wall Street Zen downgraded shares of American International Group from a "buy" rating to a "hold" rating in a report on Sunday, September 7th. Keefe, Bruyette & Woods cut their price target on shares of American International Group from $97.00 to $91.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Citigroup initiated coverage on shares of American International Group in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $85.00 price objective for the company. Morgan Stanley raised their price objective on shares of American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Finally, William Blair upgraded shares of American International Group to a "strong-buy" rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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.

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