SEB Asset Management AB Acquires Shares of 120,812 American International Group, Inc. $AIG

SEB Asset Management AB bought a new stake in shares of American International Group, Inc. (NYSE:AIG) in the 1st quarter, HoldingsChannel reports. The fund bought 120,812 shares of the insurance provider’s stock, valued at approximately $9,091,000.

A number of other hedge funds also recently made changes to their positions in AIG. Price T Rowe Associates Inc. MD grew its position in American International Group by 39.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock valued at $1,400,613,000 after buying an additional 4,661,246 shares during the period. Franklin Resources Inc. raised its position in American International Group by 36.9% in the fourth quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock worth $1,336,147,000 after acquiring an additional 4,210,363 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in American International Group by 22.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock valued at $805,529,000 after acquiring an additional 1,846,979 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of American International Group by 6.1% during the 1st quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider’s stock valued at $619,862,000 after acquiring an additional 474,035 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of American International Group by 10.8% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,482,558 shares of the insurance provider’s stock valued at $640,133,000 after acquiring an additional 731,802 shares during the period. 90.60% of the stock is currently owned by institutional investors.

American International Group Stock Performance

Shares of AIG stock opened at $80.16 on Wednesday. The firm’s 50 day moving average is $76.57 and its 200 day moving average is $76.57. The stock has a market capitalization of $42.50 billion, a P/E ratio of 14.14, a PEG ratio of 0.73 and a beta of 0.53. American International Group, Inc. has a 12 month low of $71.25 and a 12 month 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.

American International Group (NYSE:AIG) last released its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 earnings per share 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 period in the previous year, the business earned $1.17 EPS. On average, sell-side 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 declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.5%. This is a boost from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date was Monday, June 15th. American International Group’s dividend payout ratio (DPR) is presently 35.27%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Citigroup lifted their price target on shares of American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Keefe, Bruyette & Woods reduced their price objective on American International Group from $98.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, July 8th. The Goldman Sachs Group raised their target price on American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. UBS Group boosted their target price on American International Group from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Finally, Barclays upped their price target on American International Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. One research 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.com, the stock presently has an average rating of “Hold” and an average target price of $88.22.

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.