7,443,394 Shares in American International Group, Inc. $AIG Purchased by Norges Bank

Norges Bank acquired a new position in American International Group, Inc. (NYSE:AIG) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 7,443,394 shares of the insurance provider’s stock, valued at approximately $636,782,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Atlantic Union Bankshares Corp lifted its holdings in American International Group by 7,100.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 355 shares in the last quarter. Navalign LLC purchased a new position in American International Group in the 4th quarter valued at about $29,000. Aventura Private Wealth LLC purchased a new position in American International Group in the 4th quarter valued at about $39,000. JPL Wealth Management LLC purchased a new position in American International Group in the 3rd quarter valued at about $39,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in American International Group in the 4th quarter valued at about $52,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Trading Up 0.0%

NYSE AIG opened at $74.26 on Monday. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $87.46. The company has a 50-day moving average of $76.12 and a 200-day moving average of $77.57. 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 company has a market cap of $39.37 billion, a P/E ratio of 13.10, a P/E/G ratio of 0.68 and a beta of 0.52.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 EPS 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 company had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $7.03 billion. During the same quarter in the prior year, the company 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 year.

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.7%. This is an increase from American International Group’s previous quarterly dividend of $0.45. American International Group’s dividend payout ratio is currently 31.75%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. BMO Capital Markets upped their target price on shares of American International Group from $83.00 to $89.00 in a report on Thursday, May 7th. Wells Fargo & Company reduced their target price on shares of American International Group from $86.00 to $85.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. JPMorgan Chase & Co. reduced their target price on shares of American International Group from $97.00 to $86.00 and set a “neutral” rating on the stock in a report on Monday, April 20th. Keefe, Bruyette & Woods upped their target price on shares of American International Group from $97.00 to $98.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Finally, Mizuho upped their target price on shares of American International Group from $84.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, American International Group currently has a consensus rating of “Hold” and an average target price of $88.06.

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.