United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Takes $21.40 Million Position in American International Group, Inc. $AIG

Key Points

• United Super Pty Ltd disclosed a new fourth-quarter stake in American International Group, buying 250,143 shares valued at about $21.4 million.
• AIG reported better-than-expected earnings of $2.11 per share for the quarter, though revenue came in below analyst estimates at $6.65 billion.
• The company raised its quarterly dividend to $0.50 per share, implying a $2.00 annualized payout and a yield of about 2.7%.

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in American International Group, Inc. (NYSE:AIG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 250,143 shares of the insurance provider's stock, valued at approximately $21,400,000.

A number of other large investors also recently made changes to their positions in AIG. Geneos Wealth Management Inc. increased its holdings in American International Group by 2.6% in the second quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider's stock worth $434,000 after buying an additional 129 shares during the last quarter. Westwood Holdings Group Inc. increased its holdings in American International Group by 2.9% in the second quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider's stock worth $396,000 after buying an additional 130 shares during the last quarter. JFS Wealth Advisors LLC increased its holdings in American International Group by 17.7% in the third quarter. JFS Wealth Advisors LLC now owns 872 shares of the insurance provider's stock worth $68,000 after buying an additional 131 shares during the last quarter. Howard Capital Management Inc. increased its holdings in American International Group by 3.0% in the third quarter. Howard Capital Management Inc. now owns 4,717 shares of the insurance provider's stock worth $370,000 after buying an additional 138 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in American International Group by 12.6% in the fourth quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider's stock worth $107,000 after buying an additional 140 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company's stock.

Wall Street Analyst Weigh In

AIG has been the topic of a number of research reports. Mizuho increased their price objective on American International Group from $84.00 to $86.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Citigroup increased their price objective on American International Group from $85.00 to $88.00 and gave the stock a "neutral" rating in a report on Monday, May 4th. Barclays increased their price objective on American International Group from $78.00 to $80.00 and gave the stock an "equal weight" rating in a report on Friday, May 1st. Piper Sandler dropped their price objective on American International Group from $95.00 to $88.00 and set an "overweight" rating on the stock in a report on Thursday, February 12th. Finally, Keefe, Bruyette & Woods increased their price objective on American International Group from $97.00 to $98.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, American International Group has an average rating of "Hold" and an average price target of $88.06.

American International Group Stock Down 1.3%

AIG opened at $74.33 on Friday. American International Group, Inc. has a 1-year low of $71.25 and a 1-year high of $87.46. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $39.41 billion, a price-to-earnings ratio of 13.11, a P/E/G ratio of 0.69 and a beta of 0.53. The business has a 50 day moving average of $76.13 and a 200-day moving average of $77.59.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.22. American International Group had a return on equity of 10.93% and a net margin of 11.86%.The company had revenue of $6.65 billion during the quarter, compared to analysts' expectations of $7.03 billion. During the same period in the prior year, the business earned $1.17 earnings per share. As a group, sell-side analysts anticipate that American International Group, Inc. will post 7.97 earnings per share for the current year.

American International Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.7%. This is an increase from American International Group's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, June 15th. American International Group's dividend payout ratio (DPR) is 31.75%.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.

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