Capital Research Global Investors Has $2.24 Billion Holdings in American International Group, Inc. $AIG

Capital Research Global Investors raised its position in American International Group, Inc. (NYSE:AIG) by 79.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 28,534,448 shares of the insurance provider’s stock after buying an additional 12,645,616 shares during the period. Capital Research Global Investors owned approximately 0.05% of American International Group worth $2,241,091,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in AIG. Geneos Wealth Management Inc. lifted its holdings 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. boosted its holdings in American International Group by 2.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock worth $396,000 after acquiring an additional 130 shares during the last quarter. First Bank & Trust grew its stake in shares of American International Group by 2.2% in the 3rd quarter. First Bank & Trust now owns 6,053 shares of the insurance provider’s stock worth $475,000 after acquiring an additional 131 shares in the last quarter. JFS Wealth Advisors LLC lifted its position in shares of American International Group by 17.7% during the third quarter. JFS Wealth Advisors LLC now owns 872 shares of the insurance provider’s stock valued at $68,000 after purchasing an additional 131 shares in the last quarter. Finally, Howard Capital Management Inc. boosted its holdings in American International Group by 3.0% during the third quarter. Howard Capital Management Inc. now owns 4,717 shares of the insurance provider’s stock worth $370,000 after purchasing an additional 138 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Trading Down 1.4%

Shares of NYSE AIG opened at $77.62 on Tuesday. The firm’s 50 day moving average price is $77.36 and its 200-day moving average price is $78.87. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61. American International Group, Inc. has a 52-week low of $71.25 and a 52-week high of $88.07. The company has a market cap of $41.65 billion, a PE ratio of 14.32, a P/E/G ratio of 0.61 and a beta of 0.58.

American International Group (NYSE:AIG) last posted its earnings results on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.06. American International Group had a net margin of 11.56% and a return on equity of 9.79%. The business had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.99 billion. During the same quarter in the prior year, the business earned $1.30 EPS. On average, equities research analysts expect that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, March 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. American International Group’s dividend payout ratio (DPR) is presently 33.21%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of American International Group in a research report on Monday, December 29th. The Goldman Sachs Group raised shares of American International Group from a “neutral” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Thursday, March 5th. Cantor Fitzgerald upped their target price on shares of American International Group from $77.00 to $81.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Bank of America reduced their price target on shares of American International Group from $89.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, January 16th. Finally, TD Cowen upped their price objective on shares of American International Group from $86.00 to $90.00 and gave the company a “hold” rating in a research note on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $87.95.

About American International Group

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.