American International Group, Inc. $AIG Stake Lifted by Amundi

Amundi grew its holdings in shares of American International Group, Inc. (NYSE:AIG) by 14.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,825,586 shares of the insurance provider’s stock after purchasing an additional 232,842 shares during the quarter. Amundi’s holdings in American International Group were worth $137,375,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of American International Group in the 4th quarter worth approximately $636,782,000. Price T Rowe Associates Inc. MD grew its stake in shares of American International Group by 39.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock valued at $1,400,613,000 after buying an additional 4,661,246 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of American International Group by 36.9% in the fourth quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock worth $1,336,147,000 after buying an additional 4,210,363 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of American International Group by 22.0% in 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. Finally, Viking Global Investors LP acquired a new position in shares of American International Group during the 2nd quarter worth about $155,413,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Price Performance

Shares of NYSE AIG opened at $78.59 on Friday. The business has a fifty day moving average price of $76.90 and a two-hundred day moving average price of $76.53. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $41.67 billion, a PE ratio of 13.86, a P/E/G ratio of 0.72 and a beta of 0.53.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.22. The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.03 billion. American International Group had a net margin of 11.86% and a return on equity of 10.93%. During the same quarter last year, the business posted $1.17 EPS. As a group, equities analysts predict that American International Group, Inc. will post 7.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AIG. Piper Sandler reissued a “neutral” rating and set a $80.00 price objective (down from $88.00) on shares of American International Group in a report on Wednesday, July 15th. The Goldman Sachs Group boosted their price target 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. HSBC cut their target price on shares of American International Group from $94.00 to $88.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Wells Fargo & Company increased their target price on American International Group from $85.00 to $89.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Finally, Barclays upped their target price 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. Seven research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $88.22.

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.