NewEdge Wealth LLC Purchases 9,686 Shares of American International Group, Inc. $AIG

NewEdge Wealth LLC raised its position in shares of American International Group, Inc. (NYSE:AIG) by 156.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,888 shares of the insurance provider’s stock after buying an additional 9,686 shares during the period. NewEdge Wealth LLC’s holdings in American International Group were worth $1,359,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

AIG has been the subject of a number of recent analyst reports. HSBC upped their target price on American International Group from $89.00 to $94.00 and gave the company a “buy” rating in a report on Monday, May 4th. Evercore reduced their price objective on shares of American International Group from $90.00 to $85.00 in a research report on Friday, January 23rd. Citigroup upped their price objective on shares of American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Piper Sandler dropped their target price on shares of American International Group from $95.00 to $88.00 and set an “overweight” rating for the company in a research report on Thursday, February 12th. Finally, The Goldman Sachs Group lifted their target price on shares of American International Group from $87.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. One 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, American International Group currently has a consensus rating of “Hold” and an average price target of $88.06.

American International Group Price Performance

Shares of AIG stock opened at $75.75 on Thursday. The business’s fifty day moving average is $76.35 and its 200 day moving average is $77.70. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23. The stock has a market cap of $40.16 billion, a price-to-earnings ratio of 13.36, a PEG 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 $87.46.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Thursday, April 30th. The insurance provider reported $2.11 EPS for the quarter, beating the consensus estimate of $1.89 by $0.22. The business had revenue of $7.02 billion during the quarter, compared to analyst estimates of $7.03 billion. American International Group had a return on equity of 10.93% and a net margin of 11.86%.During the same quarter last year, the firm posted $1.17 earnings per share. Research analysts expect that American International Group, Inc. will post 7.95 EPS for the current fiscal year.

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be given a dividend of $0.50 per share. 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. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. American International Group’s dividend payout ratio is 31.75%.

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.