Westpac Banking Corp Acquires New Shares in American International Group, Inc. $AIG

Westpac Banking Corp bought a new stake in shares of American International Group, Inc. (NYSE:AIG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,353 shares of the insurance provider’s stock, valued at approximately $116,000.

Several other institutional investors have also recently made changes to their positions in the stock. GFG Capital LLC bought a new stake in shares of American International Group during the 2nd quarter valued at $33,000. Barrett & Company Inc. bought a new position in American International Group in the 2nd quarter worth about $35,000. NewSquare Capital LLC grew its holdings in American International Group by 58.6% during the 2nd quarter. NewSquare Capital LLC now owns 417 shares of the insurance provider’s stock valued at $36,000 after buying an additional 154 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of American International Group during the second quarter valued at about $40,000. Finally, Hemington Wealth Management lifted its holdings in shares of American International Group by 42.8% in the first quarter. Hemington Wealth Management now owns 474 shares of the insurance provider’s stock worth $41,000 after buying an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on AIG shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of American International Group in a research note on Thursday. Cantor Fitzgerald upgraded shares of American International Group to a “hold” rating in a research report on Tuesday, August 12th. Wells Fargo & Company upped their price target on shares of American International Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 12th. UBS Group lifted their price objective on American International Group from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group reduced their target price on American International Group from $99.00 to $96.00 in a research report on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, American International Group currently has a consensus rating of “Moderate Buy” and an average price target of $90.00.

American International Group Stock Performance

Shares of NYSE AIG opened at $76.51 on Tuesday. The stock’s 50-day moving average is $78.74 and its 200 day moving average is $81.00. The stock has a market cap of $41.28 billion, a price-to-earnings ratio of 14.49, a P/E/G ratio of 0.77 and a beta of 0.73. American International Group, Inc. has a 1-year low of $69.24 and a 1-year high of $88.07. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.63. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.82 billion. American International Group had a net margin of 11.51% and a return on equity of 7.88%. During the same period last year, the business earned $1.23 earnings per share. On average, sell-side analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, December 16th. American International Group’s dividend payout ratio is presently 32.73%.

American International Group Company Profile

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers’ compensation, excess casualty, and crisis management insurance products; and professional liability insurance.