Berkeley Capital Partners LLC Invests $1 Million in American International Group, Inc. $AIG

Berkeley Capital Partners LLC purchased a new position in shares of American International Group, Inc. (NYSE:AIG) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 11,705 shares of the insurance provider’s stock, valued at approximately $1,001,000.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of American International Group by 11.6% during the 3rd quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider’s stock worth $5,378,635,000 after buying an additional 7,117,583 shares during the period. Capital Research Global Investors grew its holdings in American International Group by 79.6% during the third quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider’s stock valued at $2,241,091,000 after purchasing an additional 12,645,616 shares during the period. Wellington Management Group LLP grew its holdings in American International Group by 7.9% during the third quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock valued at $2,045,657,000 after purchasing an additional 1,899,203 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in American International Group by 4.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 12,111,405 shares of the insurance provider’s stock valued at $951,230,000 after purchasing an additional 499,330 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in American International Group by 22.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock valued at $805,529,000 after purchasing an additional 1,846,979 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Stock Performance

Shares of AIG opened at $75.75 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. American International Group, Inc. has a twelve month low of $71.25 and a twelve month high of $87.46. The firm’s 50 day moving average price is $76.35 and its two-hundred day moving average price is $77.70. The firm has a market cap of $40.16 billion, a P/E ratio of 13.36, a PEG ratio of 0.73 and a beta of 0.53.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Thursday, April 30th. The insurance provider reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates 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 $7.02 billion for the quarter, compared to analyst estimates of $7.03 billion. During the same quarter in the previous year, the firm posted $1.17 earnings per share. On average, analysts forecast that American International Group, Inc. will post 7.95 EPS for the current fiscal year.

American International Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be given a $0.50 dividend. This is a boost from American International Group’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, June 15th. American International Group’s payout ratio is presently 31.75%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AIG shares. JPMorgan Chase & Co. decreased their price objective on shares of American International Group from $97.00 to $86.00 and set a “neutral” rating for the company in a report on Monday, April 20th. Evercore decreased their price objective on shares of American International Group from $90.00 to $85.00 in a report on Friday, January 23rd. Wells Fargo & Company decreased their price objective on shares of American International Group from $86.00 to $85.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Cantor Fitzgerald boosted their price objective on shares of American International Group from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Finally, Piper Sandler decreased their price objective on shares of American International Group from $95.00 to $88.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $88.06.

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.