American International Group, Inc. $AIG Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd lowered its position in American International Group, Inc. (NYSE:AIG) by 60.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 16,864 shares of the insurance provider’s stock after selling 26,075 shares during the period. Mediolanum International Funds Ltd’s holdings in American International Group were worth $1,249,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AIG. Spartan Wealth Advisory Services LLC purchased a new position in American International Group during the 1st quarter valued at about $268,000. Kera Capital Partners Inc. lifted its holdings in shares of American International Group by 110.5% in the first quarter. Kera Capital Partners Inc. now owns 5,996 shares of the insurance provider’s stock valued at $451,000 after purchasing an additional 3,148 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. acquired a new stake in shares of American International Group in the first quarter valued at approximately $1,974,000. Bessemer Group Inc. grew its position in shares of American International Group by 22.8% in the first quarter. Bessemer Group Inc. now owns 15,839 shares of the insurance provider’s stock valued at $1,191,000 after purchasing an additional 2,945 shares during the last quarter. Finally, SteelPeak Wealth LLC increased its stake in shares of American International Group by 55.1% during the 1st quarter. SteelPeak Wealth LLC now owns 35,679 shares of the insurance provider’s stock worth $2,685,000 after purchasing an additional 12,675 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Trading Up 0.4%

Shares of American International Group stock opened at $80.16 on Wednesday. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.29. The business’s fifty day moving average is $76.57 and its two-hundred day moving average is $76.57. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23. The firm has a market cap of $42.50 billion, a PE ratio of 14.14, a P/E/G ratio of 0.73 and a beta of 0.53.

American International Group (NYSE:AIG) last released its earnings results on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, beating the consensus estimate of $1.89 by $0.22. American International Group had a return on equity of 10.93% and a net margin of 11.86%.The firm had revenue of $6.65 billion during the quarter, compared to analyst estimates of $7.03 billion. During the same period in the prior year, the firm posted $1.17 earnings per share. Analysts anticipate that American International Group, Inc. will post 8 earnings per share for the current year.

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, June 15th. This is an increase from American International Group’s previous quarterly dividend of $0.45. American International Group’s payout ratio is currently 35.27%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AIG shares. UBS Group lifted their price objective on American International Group from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. increased their target price on American International Group from $86.00 to $90.00 and gave the company a “neutral” rating in a report on Monday. HSBC dropped their price target on American International Group from $94.00 to $88.00 and set a “buy” rating for the company in a research report on Monday, July 6th. BMO Capital Markets upped their price objective on American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. Finally, Bank of America decreased their price objective on American International Group from $80.00 to $79.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $88.22.

American International Group Company 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.