Leeward Investments LLC MA Acquires 14,913 Shares of American International Group, Inc. $AIG

Leeward Investments LLC MA grew its stake in shares of American International Group, Inc. (NYSE:AIG) by 15.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,808 shares of the insurance provider’s stock after acquiring an additional 14,913 shares during the quarter. Leeward Investments LLC MA’s holdings in American International Group were worth $8,172,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bank of New York Mellon Corp purchased a new position in American International Group during the 2nd quarter worth approximately $496,890,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of American International Group in the 2nd quarter valued at $464,539,000. Wellington Management Group LLP boosted its holdings in shares of American International Group by 6.9% in the 2nd quarter. Wellington Management Group LLP now owns 30,331,704 shares of the insurance provider’s stock valued at $2,260,622,000 after acquiring an additional 1,961,270 shares during the last quarter. Man Group plc increased its stake in shares of American International Group by 104.6% in the second quarter. Man Group plc now owns 3,612,368 shares of the insurance provider’s stock worth $269,230,000 after acquiring an additional 1,847,194 shares during the period. Finally, Bank of Nova Scotia increased its stake in shares of American International Group by 131.5% in the second quarter. Bank of Nova Scotia now owns 1,175,453 shares of the insurance provider’s stock worth $87,607,000 after acquiring an additional 667,791 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Stock Performance

Shares of NYSE AIG opened at $81.25 on Monday. The company has a market capitalization of $42.49 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 0.85 and a beta of 0.52. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61. The company’s fifty day moving average price is $76.59 and its 200 day moving average price is $76.83. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $87.29.

American International Group (NYSE:AIG) last posted its earnings results on Friday, August 7th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.08. American International Group had a net margin of 11.13% and a return on equity of 11.05%. The business had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.25 billion. During the same period in the prior year, the company posted $1.81 EPS. On average, research analysts predict that American International Group, Inc. will post 8.07 earnings per share for the current year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.5%. American International Group’s dividend payout ratio is presently 36.56%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of American International Group from $86.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Piper Sandler increased their price target on American International Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of American International Group in a research report on Tuesday, September 29th. The Goldman Sachs Group lifted their price objective on American International Group from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods reduced their price objective on American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a research note on Monday, October 12th. Eight equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, American International Group presently has a consensus rating of “Hold” and an average target price of $87.68.

Insider Activity at American International Group

In related news, insider Peter Zaffino sold 200,000 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $76.47, for a total value of $15,294,000.00. Following the completion of the transaction, the insider directly owned 592,833 shares of the company’s stock, valued at approximately $45,333,939.51. This represents a 25.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by insiders.

About American International Group

American International Group, Inc (NYSE:AIG) is a global insurance organization that provides property and casualty insurance products and related services to businesses, institutions, and individuals. Its offerings include commercial insurance, personal insurance, specialty coverage, accident and health products, and travel-related protection.

AIG serves customers through operations in the United States and international markets. Its commercial insurance business supports companies across industries with coverage such as property, casualty, liability, marine, and other specialty risks, while its personal insurance operations provide protection for individuals and families.

The company was founded in Shanghai in 1919 by Cornelius Vander Starr and is headquartered in New York City.