Merrion Investment Management Co LLC Has $2.43 Million Position in American International Group, Inc. $AIG

Merrion Investment Management Co LLC reduced its stake in shares of American International Group, Inc. (NYSE:AIG) by 6.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 28,400 shares of the insurance provider’s stock after selling 2,000 shares during the period. American International Group accounts for 1.6% of Merrion Investment Management Co LLC’s holdings, making the stock its 19th biggest position. Merrion Investment Management Co LLC’s holdings in American International Group were worth $2,431,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sachetta LLC grew its stake in American International Group by 194.5% in the first quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 249 shares in the last quarter. GFG Capital LLC purchased a new stake in shares of American International Group during the 2nd quarter worth about $33,000. Barrett & Company Inc. acquired a new stake in shares of American International Group during the 2nd quarter valued at about $35,000. NewSquare Capital LLC grew its stake in shares of American International Group by 58.6% in the 2nd quarter. NewSquare Capital LLC now owns 417 shares of the insurance provider’s stock valued at $36,000 after buying an additional 154 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of American International Group in the 2nd quarter valued at approximately $40,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Stock Up 0.7%

American International Group stock opened at $76.80 on Friday. The firm has a market cap of $42.55 billion, a price-to-earnings ratio of 14.55, a P/E/G ratio of 0.77 and a beta of 0.73. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63. American International Group, Inc. has a fifty-two week low of $69.24 and a fifty-two week high of $88.07. The firm has a fifty day moving average price of $79.13 and a two-hundred day moving average price of $81.19.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Tuesday, November 4th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.63. The company had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.82 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same period last year, the business posted $1.23 earnings per share. As a group, analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. American International Group’s dividend payout ratio (DPR) is 32.73%.

Analysts Set New Price Targets

AIG has been the topic of several recent research reports. Keefe, Bruyette & Woods cut their price objective on shares of American International Group from $97.00 to $91.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 12th. Wolfe Research assumed coverage on shares of American International Group in a report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Piper Sandler reduced their price objective on shares of American International Group from $96.00 to $88.00 and set an “overweight” rating for the company in a research note on Thursday, October 2nd. Bank of America raised their target price on American International Group from $88.00 to $94.00 and gave the company a “neutral” rating in a report on Monday, October 13th. Finally, Citigroup started coverage on American International Group in a research note on Wednesday, August 13th. They set a “neutral” rating and a $85.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, American International Group presently has a consensus rating of “Moderate Buy” and an average price target of $89.93.

American International Group Profile

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.