Saudi Central Bank Boosts Holdings in American International Group, Inc. $AIG

Saudi Central Bank increased its stake in shares of American International Group, Inc. (NYSE:AIG) by 88.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,441 shares of the insurance provider’s stock after acquiring an additional 17,525 shares during the period. Saudi Central Bank’s holdings in American International Group were worth $2,790,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of AIG. Modus Advisors LLC acquired a new position in American International Group during the fourth quarter worth $27,000. Navalign LLC purchased a new stake in American International Group in the 4th quarter valued at $29,000. Mcguire Capital Advisors Inc. purchased a new position in American International Group during the fourth quarter worth about $29,000. First Bancorp Inc ME purchased a new position in American International Group in the second quarter worth approximately $30,000. Finally, SHP Wealth Management acquired a new stake in shares of American International Group during the 4th quarter worth about $34,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Peter Zaffino sold 36,829 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $76.14, for a total value of $2,804,160.06. Following the completion of the transaction, the insider owned 556,004 shares of the company’s stock, valued at approximately $42,334,144.56. This represents a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AIG has been the topic of several research reports. Cantor Fitzgerald decreased their target price on American International Group from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. Mizuho boosted their price objective on American International Group from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Piper Sandler boosted their price target on American International Group from $80.00 to $84.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Argus restated a “buy” rating and issued a $90.00 target price on shares of American International Group in a research note on Wednesday, September 2nd. Finally, Royal Bank Of Canada increased their price objective on American International Group from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research report on Monday, August 10th. Eight analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, American International Group has an average rating of “Hold” and a consensus price target of $88.37.

American International Group Stock Down 0.0%

AIG stock opened at $76.18 on Tuesday. The firm has a market cap of $39.83 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 0.85 and a beta of 0.50. American International Group, Inc. has a 1-year low of $71.25 and a 1-year high of $87.29. The firm has a fifty day moving average price of $77.98 and a two-hundred day moving average price of $76.95. 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 posted its quarterly earnings results on Friday, August 7th. 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 net margin of 11.13% and a return on equity of 11.05%. The company had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same period last year, the firm posted $1.81 EPS. Research analysts predict that American International Group, Inc. will post 8.02 EPS for the current year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.6%. American International Group’s payout ratio is 36.56%.

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.