First Trust Advisors LP Boosts Position in American International Group, Inc. $AIG

First Trust Advisors LP increased its holdings in American International Group, Inc. (NYSE:AIG) by 38.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 754,064 shares of the insurance provider’s stock after acquiring an additional 210,082 shares during the quarter. First Trust Advisors LP owned about 0.14% of American International Group worth $59,224,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Westfuller Advisors LLC purchased a new stake in shares of American International Group in the 3rd quarter worth about $26,000. Atlantic Union Bankshares Corp raised its stake in American International Group by 7,100.0% in the third quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock worth $28,000 after buying an additional 355 shares in the last quarter. Eastern Bank lifted its holdings in American International Group by 2,473.3% in the third quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock worth $30,000 after buying an additional 371 shares during the period. Twin Peaks Wealth Advisors LLC bought a new stake in American International Group during the 2nd quarter valued at approximately $32,000. Finally, Motco grew its holdings in shares of American International Group by 950.0% during the 3rd quarter. Motco now owns 420 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 380 shares during the period. Institutional investors own 90.60% of the company’s stock.

Wall Street Analyst Weigh In

AIG has been the subject of a number of research analyst reports. Barclays lowered their target price on American International Group from $81.00 to $79.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 11th. Keefe, Bruyette & Woods boosted their target price on shares of American International Group from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. The Goldman Sachs Group upgraded shares of American International Group from a “neutral” rating to a “buy” rating and set a $90.00 price target for the company in a research note on Thursday, March 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of American International Group in a research note on Monday, December 29th. Finally, Wells Fargo & Company upped their price objective on shares of American International Group from $85.00 to $87.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $87.95.

American International Group Stock Performance

Shares of AIG stock opened at $78.07 on Wednesday. The company has a market capitalization of $41.89 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 0.59 and a beta of 0.58. 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 one year low of $71.25 and a one year high of $88.07. The company’s 50-day moving average is $77.20 and its 200 day moving average is $78.83.

American International Group (NYSE:AIG) last issued its earnings results on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.99 billion. During the same quarter in the prior year, the firm posted $1.30 earnings per share. Sell-side analysts expect that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

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

American International Group Company 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.