American International Group, Inc. $AIG Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lessened its holdings in American International Group, Inc. (NYSE:AIG) by 2.9% during the 2nd quarter, Holdings Channel reports. The firm owned 189,368 shares of the insurance provider’s stock after selling 5,729 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in American International Group were worth $16,179,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sachetta LLC raised its position in shares of American International Group by 194.5% during the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 249 shares during the last quarter. GFG Capital LLC acquired a new stake in American International Group during the 2nd quarter valued at $33,000. Barrett & Company Inc. purchased a new position in American International Group during the second quarter worth $35,000. NewSquare Capital LLC increased its position in American International Group by 58.6% during the second quarter. NewSquare Capital LLC now owns 417 shares of the insurance provider’s stock worth $36,000 after buying an additional 154 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of American International Group in the second quarter worth $40,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Trading Up 0.7%

NYSE AIG opened at $76.80 on Friday. The company has a market cap of $42.55 billion, a P/E ratio of 14.55, a P/E/G ratio of 0.77 and a beta of 0.73. American International Group, Inc. has a 12 month low of $69.24 and a 12 month high of $88.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63. The company has a 50-day moving average of $79.13 and a 200-day moving average of $81.19.

American International Group (NYSE:AIG) last released its earnings results on Tuesday, November 4th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.63. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The firm had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same period in the previous year, the firm earned $1.23 earnings per share. As a group, equities analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 16th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, December 16th. American International Group’s dividend payout ratio is presently 32.73%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AIG shares. Jefferies Financial Group increased their price objective on American International Group from $96.00 to $99.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. UBS Group upped their target price on shares of American International Group from $90.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of American International Group in a report on Wednesday, October 8th. Bank of America boosted their price objective on shares of American International Group from $88.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, October 13th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of American International Group from $97.00 to $91.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.13.

American International Group Profile

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. 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.