American International Group, Inc. $AIG Shares Bought by Brighton Jones LLC

Brighton Jones LLC boosted its stake in shares of American International Group, Inc. (NYSE:AIG) by 22.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,693 shares of the insurance provider’s stock after acquiring an additional 3,484 shares during the quarter. Brighton Jones LLC’s holdings in American International Group were worth $1,600,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. GQG Partners LLC lifted its position in American International Group by 33,315.0% during the 1st quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider’s stock worth $1,643,995,000 after acquiring an additional 18,852,949 shares during the period. Bank of New York Mellon Corp lifted its position in American International Group by 20.4% during the 1st quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider’s stock worth $974,840,000 after acquiring an additional 1,901,998 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in American International Group by 22.8% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 9,113,636 shares of the insurance provider’s stock worth $792,340,000 after acquiring an additional 1,694,290 shares during the period. Nuveen LLC acquired a new stake in American International Group during the 1st quarter worth approximately $440,273,000. Finally, AQR Capital Management LLC lifted its position in American International Group by 184.4% during the 1st quarter. AQR Capital Management LLC now owns 3,335,040 shares of the insurance provider’s stock worth $287,214,000 after acquiring an additional 2,162,545 shares during the period. 90.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on AIG. William Blair raised American International Group to a “strong-buy” rating in a report on Friday, August 1st. Cantor Fitzgerald raised American International Group to a “hold” rating in a report on Tuesday, August 12th. JPMorgan Chase & Co. raised their price target on American International Group from $95.00 to $97.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Piper Sandler reduced their price target on American International Group from $96.00 to $88.00 and set an “overweight” rating for the company in a report on Thursday, October 2nd. Finally, The Goldman Sachs Group raised their price target on American International Group from $85.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.81.

American International Group Stock Performance

Shares of AIG stock opened at $78.93 on Monday. The stock has a fifty day moving average price of $79.91 and a 200 day moving average price of $81.41. The stock has a market cap of $43.73 billion, a PE ratio of 14.95, a P/E/G ratio of 0.78 and a beta of 0.68. American International Group, Inc. has a 1 year low of $69.24 and a 1 year high of $88.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.21. The firm had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.81 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same period in the previous year, the firm posted $1.16 earnings per share. Sell-side analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.80 annualized dividend and a yield of 2.3%. American International Group’s payout ratio is currently 34.09%.

About American International Group

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers’ compensation, excess casualty, and crisis management insurance products; and professional liability insurance.