Mirae Asset Global Investments Co. Ltd. Buys 15,116 Shares of American International Group, Inc. $AIG

Mirae Asset Global Investments Co. Ltd. raised its stake in American International Group, Inc. (NYSE:AIG) by 20.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,932 shares of the insurance provider’s stock after buying an additional 15,116 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in American International Group were worth $7,608,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. raised its holdings in American International Group by 88.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 58,314 shares of the insurance provider’s stock valued at $4,580,000 after buying an additional 27,431 shares during the last quarter. AlphaQuest LLC bought a new stake in American International Group in the third quarter valued at $2,724,000. Allstate Corp bought a new stake in American International Group in the third quarter valued at $1,689,000. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in American International Group by 21.6% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 583,680 shares of the insurance provider’s stock valued at $45,842,000 after acquiring an additional 103,762 shares in the last quarter. Finally, Algebris UK Ltd. bought a new stake in American International Group in the third quarter valued at $15,032,000. Institutional investors own 90.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on AIG shares. Keefe, Bruyette & Woods upped their price objective on shares of American International Group from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Bank of America decreased their price objective on shares of American International Group from $80.00 to $79.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Weiss Ratings restated a “buy (b-)” rating on shares of American International Group in a report on Monday, December 29th. Piper Sandler decreased their price objective on shares of American International Group from $95.00 to $88.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. Finally, The Goldman Sachs Group decreased their price objective on shares of American International Group from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $86.76.

American International Group Stock Down 0.2%

NYSE:AIG opened at $78.49 on Tuesday. The firm’s 50-day moving average price is $77.36 and its 200-day moving average price is $78.20. The company has a market capitalization of $42.14 billion, a PE ratio of 14.48, a P/E/G ratio of 0.60 and a beta of 0.59. 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, Inc. has a 1-year low of $71.25 and a 1-year high of $87.46.

American International Group (NYSE:AIG) last released its earnings results on Thursday, February 12th. The insurance provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.06. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.99 billion. American International Group had a net margin of 11.56% and a return on equity of 9.79%. During the same period in the prior year, the firm earned $1.30 EPS. On average, equities analysts predict that American International Group, Inc. will post 7.79 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 16th were given a $0.45 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. American International Group’s dividend payout ratio is currently 33.21%.

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.