Voya Investment Management LLC Acquires 1,014,691 Shares of American International Group, Inc. $AIG

Key Points

• Voya Investment Management LLC significantly increased its holdings in American International Group, Inc. by 347.6% during the first quarter, acquiring over 1 million additional shares.
• American International Group recently reported $1.81 earnings per share for the last quarter, exceeding analyst expectations of $1.60, and recorded a revenue of $6.77 billion.
• The company declared a quarterly dividend of $0.45, which will be paid on September 30th, reflecting an annualized dividend yield of 2.3%.

Voya Investment Management LLC raised its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 347.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,306,576 shares of the insurance provider's stock after acquiring an additional 1,014,691 shares during the period. Voya Investment Management LLC owned approximately 0.23% of American International Group worth $113,594,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Ameriflex Group Inc. purchased a new stake in shares of American International Group in the fourth quarter worth $29,000. Sachetta LLC grew its stake in shares of American International Group by 194.5% in the first quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock worth $33,000 after acquiring an additional 249 shares during the last quarter. Hemington Wealth Management grew its stake in shares of American International Group by 42.8% in the first 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 last quarter. NBC Securities Inc. purchased a new stake in shares of American International Group in the first quarter worth $47,000. Finally, WPG Advisers LLC purchased a new stake in shares of American International Group in the first quarter worth $47,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on AIG. Wall Street Zen raised American International Group from a "hold" rating to a "buy" rating in a research note on Monday. Morgan Stanley increased their price objective on 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. Keefe, Bruyette & Woods dropped their price objective on American International Group from $97.00 to $91.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Cfra Research raised shares of American International Group to a "moderate buy" rating in a report on Monday, August 11th. Finally, Citigroup assumed coverage on shares of American International Group in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $85.00 price target for the company. 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 stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $88.27.

American International Group Stock Performance

Shares of AIG stock traded down $1.92 during trading hours on Monday, reaching $77.01. 5,193,097 shares of the company traded hands, compared to its average volume of 3,721,506. American International Group, Inc. has a 12-month low of $69.24 and a 12-month high of $88.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market cap of $42.66 billion, a P/E ratio of 14.58, a P/E/G ratio of 0.84 and a beta of 0.70. The firm has a 50-day moving average price of $80.22 and a 200 day moving average price of $82.09.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings data 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. American International Group had a return on equity of 7.88% and a net margin of 11.51%.The firm had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.81 billion. During the same period in the previous year, the firm earned $1.16 EPS. As a group, sell-side analysts predict 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 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 presently 34.09%.

About American International Group

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.