7,742 Shares in American International Group, Inc. $AIG Bought by Westpac Banking Corp

Westpac Banking Corp acquired a new position in American International Group, Inc. (NYSE:AIG) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 7,742 shares of the insurance provider’s stock, valued at approximately $583,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AIG. Modus Advisors LLC purchased a new position in American International Group in the fourth quarter valued at about $27,000. Navalign LLC purchased a new stake in American International Group during the 4th quarter worth approximately $29,000. Mcguire Capital Advisors Inc. purchased a new stake in American International Group during the 4th quarter worth approximately $29,000. SHP Wealth Management acquired a new position in shares of American International Group in the 4th quarter valued at approximately $34,000. Finally, CENTRAL TRUST Co raised its position in shares of American International Group by 48.7% in the 1st quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 151 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Trading Up 0.0%

NYSE:AIG opened at $78.26 on Friday. The company has a market cap of $41.49 billion, a PE ratio of 13.80, a P/E/G ratio of 0.72 and a beta of 0.53. The business’s 50 day moving average is $76.68 and its two-hundred day moving average is $76.47. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23. American International Group, Inc. has a 52 week low of $71.25 and a 52 week high of $87.29.

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

American International Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were paid a dividend of $0.50 per share. 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 2.6%. American International Group’s payout ratio is presently 35.27%.

Analyst Ratings Changes

AIG has been the subject of a number of recent analyst reports. Bank of America decreased their price target on shares of American International Group from $80.00 to $79.00 and set a “neutral” rating for the company in a research report on Tuesday, April 14th. UBS Group upped their price target on shares of American International Group from $94.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Weiss Ratings upgraded shares of American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Barclays raised their price objective on shares of American International Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Finally, Piper Sandler reissued a “neutral” rating and issued a $80.00 target price (down from $88.00) on shares of American International Group in a research report on Wednesday, July 15th. 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. According to data from MarketBeat.com, American International Group currently has an average rating of “Hold” and a consensus price target of $88.22.

American International Group 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.