Y Intercept Hong Kong Ltd Makes New Investment in American International Group, Inc. $AIG

Key Points

• Y Intercept Hong Kong Ltd disclosed a new first-quarter position in American International Group, buying 63,637 shares valued at about $4.79 million.
• AIG reported Q1 earnings of $2.11 per share, topping estimates, while revenue came in below expectations at $6.65 billion.
• The insurer also raised its quarterly dividend to $0.50 per share from $0.45, and analysts now have a consensus rating of Hold with an average price target of $87.94.

Y Intercept Hong Kong Ltd bought a new stake in American International Group, Inc. (NYSE:AIG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 63,637 shares of the insurance provider's stock, valued at approximately $4,789,000.

Other institutional investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its position in shares of 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 valued at $434,000 after purchasing an additional 129 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in American International Group by 2.9% during 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 in the last quarter. Larson Financial Group LLC boosted its stake in American International Group by 12.6% during 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. GW&K Investment Management LLC grew its holdings in American International Group by 8.1% in the 4th quarter. GW&K Investment Management LLC now owns 1,917 shares of the insurance provider's stock valued at $164,000 after buying an additional 144 shares in the last quarter. Finally, Kestra Private Wealth Services LLC grew its holdings in 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 valued at $831,000 after buying an additional 146 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Stock Performance

NYSE AIG opened at $79.33 on Monday. The stock has a fifty day simple moving average of $75.69 and a 200-day simple moving average of $77.13. 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 cap of $42.06 billion, a PE ratio of 13.99, a P/E/G ratio of 0.73 and a beta of 0.53. American International Group, Inc. has a twelve month low of $71.25 and a twelve month high of $87.29.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.22. American International Group had a net margin of 11.86% and a return on equity of 10.93%. The firm had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.03 billion. During the same period in the previous year, the firm earned $1.17 EPS. Equities analysts anticipate that American International Group, Inc. will post 7.98 earnings per share for the current year.

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were paid a $0.50 dividend. This is a positive change from American International Group's previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.5%. American International Group's payout ratio is presently 35.27%.

Analyst Ratings Changes

AIG has been the topic of several analyst reports. Barclays lifted their price target 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. Weiss Ratings upgraded shares of American International Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday. The Goldman Sachs Group lifted their target price on shares of American International Group from $85.00 to $88.00 and gave the stock a "buy" rating in a research note on Wednesday, July 1st. BMO Capital Markets boosted their target price on shares of American International Group from $83.00 to $89.00 in a report on Thursday, May 7th. Finally, Morgan Stanley dropped their price target on shares of American International Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research note on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $87.94.

American International Group 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.