Cullen Capital Management LLC Acquires Shares of 494,273 American International Group, Inc. $AIG

Cullen Capital Management LLC acquired a new stake in American International Group, Inc. (NYSE:AIG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 494,273 shares of the insurance provider’s stock, valued at approximately $42,285,000.

Other hedge funds also recently bought and sold shares of the company. Modus Advisors LLC acquired a new stake in American International Group in the 4th quarter valued at about $27,000. Navalign LLC acquired a new stake in American International Group in the 4th quarter valued at about $29,000. Aventura Private Wealth LLC acquired a new stake in American International Group in the 4th quarter valued at about $39,000. Jessup Wealth Management Inc acquired a new stake in American International Group in the 4th quarter valued at about $40,000. Finally, JPL Wealth Management LLC acquired a new stake in American International Group in the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Stock Performance

American International Group stock opened at $75.60 on Friday. The firm has a 50 day simple moving average of $76.07 and a 200-day simple moving average of $77.38. American International Group, Inc. has a 1-year low of $71.25 and a 1-year high of $87.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market cap of $40.08 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 0.69 and a beta of 0.52.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $7.03 billion. During the same quarter in the prior year, the company posted $1.17 EPS. On average, analysts expect that American International Group, Inc. will post 7.99 EPS for the current year.

American International Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be paid a $0.50 dividend. This is a positive change from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.00 annualized dividend and a dividend yield of 2.6%. American International Group’s dividend payout ratio is currently 31.75%.

Analysts Set New Price Targets

AIG has been the subject of a number of recent research reports. Morgan Stanley cut their price objective on shares of American International Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, April 6th. Cantor Fitzgerald increased their price objective on shares of American International Group from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Keefe, Bruyette & Woods increased their price target on shares of American International Group from $97.00 to $98.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Barclays increased 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. Finally, The Goldman Sachs Group dropped their price target on shares of American International Group from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $87.78.

American International Group 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.