Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in American International Group, Inc. (NYSE:AIG – Free Report) by 0.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 126,225 shares of the insurance provider’s stock after purchasing an additional 272 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in American International Group were worth $7,263,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in AIG. Norges Bank bought a new position in shares of American International Group in the fourth quarter valued at $736,063,000. Wellington Management Group LLP lifted its position in American International Group by 30.4% in the 1st quarter. Wellington Management Group LLP now owns 31,807,640 shares of the insurance provider’s stock valued at $1,601,833,000 after acquiring an additional 7,413,947 shares in the last quarter. Morgan Stanley boosted its stake in American International Group by 55.1% during the 4th quarter. Morgan Stanley now owns 10,519,406 shares of the insurance provider’s stock valued at $665,247,000 after purchasing an additional 3,738,346 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in American International Group by 27.2% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 15,156,369 shares of the insurance provider’s stock worth $763,275,000 after purchasing an additional 3,243,870 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of American International Group by 4.7% in the first quarter. BlackRock Inc. now owns 66,444,103 shares of the insurance provider’s stock worth $3,346,125,000 after purchasing an additional 2,967,775 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.
In other news, major shareholder International Group American sold 50,000,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $20.50, for a total transaction of $1,025,000,000.00. Following the completion of the transaction, the insider now directly owns 365,413,892 shares in the company, valued at approximately $7,490,984,786. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.49% of the stock is owned by company insiders.
American International Group Stock Performance
American International Group (NYSE:AIG – Get Free Report) last released its quarterly earnings data on Thursday, November 2nd. The insurance provider reported $1.61 EPS for the quarter, beating the consensus estimate of $1.55 by $0.06. American International Group had a net margin of 7.87% and a return on equity of 10.66%. The business had revenue of $12.77 billion for the quarter, compared to the consensus estimate of $12.62 billion. During the same period in the prior year, the firm earned $0.66 earnings per share. On average, equities research analysts forecast that American International Group, Inc. will post 6.63 EPS for the current year.
American International Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Wednesday, December 13th. American International Group’s dividend payout ratio is presently 27.59%.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on AIG shares. BMO Capital Markets decreased their price target on American International Group from $69.00 to $68.00 and set a “market perform” rating for the company in a report on Tuesday, October 10th. StockNews.com initiated coverage on shares of American International Group in a report on Thursday, October 5th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of American International Group in a report on Wednesday, October 4th. They issued a “buy” rating and a $79.00 target price for the company. Piper Sandler cut their price target on shares of American International Group from $81.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, November 6th. Finally, Morgan Stanley boosted their target price on American International Group from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 9th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, American International Group presently has an average rating of “Hold” and a consensus target price of $68.71.
About American International Group
American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through General Insurance, and Life and Retirement segments. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products; and professional liability insurance.
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