Wellington Management Group LLP Grows Holdings in American International Group, Inc. $AIG

Wellington Management Group LLP grew its position in American International Group, Inc. (NYSE:AIG) by 6.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,331,704 shares of the insurance provider’s stock after acquiring an additional 1,961,270 shares during the period. Wellington Management Group LLP owned about 0.06% of American International Group worth $2,260,622,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of American International Group in the 2nd quarter valued at about $261,000. Freestone Grove Partners LP raised its holdings in American International Group by 51.5% in the 2nd quarter. Freestone Grove Partners LP now owns 1,925,980 shares of the insurance provider’s stock worth $143,543,000 after purchasing an additional 655,065 shares during the period. Man Group plc boosted its position in American International Group by 104.6% during the second quarter. Man Group plc now owns 3,612,368 shares of the insurance provider’s stock worth $269,230,000 after purchasing an additional 1,847,194 shares in the last quarter. First Bancorp Inc ME purchased a new position in American International Group during the second quarter worth approximately $30,000. Finally, Jupiter Topco LLC acquired a new stake in American International Group in the second quarter valued at approximately $5,174,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on AIG. Barclays boosted their price objective on American International Group from $80.00 to $81.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Morgan Stanley dropped their price target on shares of American International Group from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 12th. HSBC cut their price target on shares of American International Group from $94.00 to $88.00 and set a “buy” rating for the company in a report on Monday, July 6th. The Goldman Sachs Group upped their price objective on shares of American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Finally, Piper Sandler increased their price objective on shares of American International Group from $80.00 to $84.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Seven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $88.28.

Insider Transactions at American International Group

In other American International Group news, insider Peter Zaffino sold 36,829 shares of American International Group stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $76.14, for a total transaction of $2,804,160.06. Following the sale, the insider owned 556,004 shares of the company’s stock, valued at $42,334,144.56. The trade was a 6.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by company insiders.

American International Group Price Performance

Shares of American International Group stock opened at $77.02 on Friday. The stock has a market capitalization of $40.27 billion, a P/E ratio of 14.08, a PEG ratio of 0.70 and a beta of 0.53. The business has a 50 day simple moving average of $77.92 and a two-hundred day simple moving average of $77.01. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $87.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Thursday, August 6th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.08. American International Group had a return on equity of 11.05% and a net margin of 11.13%.The firm had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.25 billion. During the same period in the previous year, the company posted $1.81 earnings per share. As a group, analysts predict that American International Group, Inc. will post 8.02 EPS for the current fiscal year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.50 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. American International Group’s dividend payout ratio (DPR) is presently 36.56%.

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.