SteelPeak Wealth LLC Raises Stock Holdings in American International Group, Inc. $AIG

SteelPeak Wealth LLC increased its stake in shares of American International Group, Inc. (NYSE:AIG) by 55.1% in the first quarter, HoldingsChannel reports. The firm owned 35,679 shares of the insurance provider’s stock after buying an additional 12,675 shares during the quarter. SteelPeak Wealth LLC’s holdings in American International Group were worth $2,685,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in AIG. Geneos Wealth Management Inc. grew its holdings in shares of American International Group by 2.6% during the second quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock worth $434,000 after buying an additional 129 shares in the last quarter. Westwood Holdings Group Inc. raised its position in shares of American International Group by 2.9% in the second quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock valued at $396,000 after buying an additional 130 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of American International Group by 12.6% during the fourth quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider’s stock valued at $107,000 after buying an additional 140 shares during the period. GW&K Investment Management LLC boosted its position in American International Group by 8.1% during the fourth quarter. GW&K Investment Management LLC now owns 1,917 shares of the insurance provider’s stock worth $164,000 after acquiring an additional 144 shares during the last quarter. Finally, Kestra Private Wealth Services LLC grew its stake in American International Group by 1.3% in the 1st quarter. Kestra Private Wealth Services LLC now owns 11,048 shares of the insurance provider’s stock worth $831,000 after acquiring an additional 146 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Stock Performance

Shares of NYSE:AIG opened at $80.43 on Friday. The business has a 50-day moving average of $76.42 and a two-hundred day moving average of $76.72. The firm has a market capitalization of $42.65 billion, a PE ratio of 14.19, a P/E/G ratio of 0.71 and a beta of 0.53. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $87.29.

American International Group (NYSE:AIG) last released its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.22. American International Group had a return on equity of 10.93% and a net margin of 11.86%.The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.03 billion. During the same period in the previous year, the company posted $1.17 EPS. As a group, research analysts forecast that American International Group, Inc. will post 8 earnings per share for the current year.

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were issued a $0.50 dividend. The ex-dividend date was Monday, June 15th. This is a positive change from American International Group’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 2.5%. American International Group’s payout ratio is 35.27%.

Analysts Set New Price Targets

A number of research analysts have weighed in on AIG shares. BMO Capital Markets increased their price target on American International Group from $83.00 to $89.00 in a research note on Thursday, May 7th. Morgan Stanley dropped their target price on American International Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, April 6th. Piper Sandler reiterated a “neutral” rating and set a $80.00 target price (down from $88.00) on shares of American International Group in a research report on Wednesday. Weiss Ratings raised American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Finally, JPMorgan Chase & Co. lowered their price target on American International Group from $97.00 to $86.00 and set a “neutral” rating for the company in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, American International Group currently has an average rating of “Hold” and a consensus price target of $88.00.

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.