Sterling Capital Management LLC Acquires 15,892 Shares of American International Group, Inc. $AIG

Sterling Capital Management LLC raised its holdings in American International Group, Inc. (NYSE:AIG) by 897.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,663 shares of the insurance provider’s stock after purchasing an additional 15,892 shares during the quarter. Sterling Capital Management LLC’s holdings in American International Group were worth $1,329,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AIG. Modus Advisors LLC bought a new stake in shares of American International Group during the 4th quarter worth $27,000. Navalign LLC bought a new position in American International Group in the fourth quarter valued at about $29,000. Mcguire Capital Advisors Inc. acquired a new position in American International Group during the fourth quarter worth about $29,000. SHP Wealth Management acquired a new position in American International Group during the fourth quarter worth about $34,000. Finally, CENTRAL TRUST Co lifted its holdings in shares of American International Group by 48.7% in the first quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 151 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Stock Performance

NYSE:AIG opened at $75.25 on Tuesday. The stock’s 50-day moving average is $75.72 and its 200-day moving average is $77.31. American International Group, Inc. has a 1-year low of $71.25 and a 1-year high of $87.29. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23. The stock has a market cap of $39.90 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 0.69 and a beta of 0.52.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.22. American International Group had a net margin of 11.86% and a return on equity of 10.93%. The business had revenue of $6.65 billion during the quarter, compared to analyst estimates of $7.03 billion. During the same quarter last year, the business earned $1.17 EPS. Equities research analysts anticipate that American International Group, Inc. will post 7.98 earnings per share for the current year.

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were given a $0.50 dividend. This is an increase from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date was Monday, June 15th. This represents a $2.00 annualized dividend and a yield of 2.7%. American International Group’s dividend payout ratio is currently 35.27%.

Analyst Upgrades and Downgrades

AIG has been the topic of a number of research analyst reports. Barclays raised their price target on shares of American International Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. BMO Capital Markets increased their price objective on shares of American International Group from $83.00 to $89.00 in a research note on Thursday, May 7th. Keefe, Bruyette & Woods raised their target price on shares of American International Group from $97.00 to $98.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Weiss Ratings cut shares of American International Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 16th. Finally, HSBC upped their price target on shares of American International Group from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, American International Group presently has a consensus rating of “Hold” and a consensus target price of $87.78.

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.