American International Group, Inc. $AIG Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its stake in shares of American International Group, Inc. (NYSE:AIG) by 21.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,341,348 shares of the insurance provider’s stock after purchasing an additional 600,629 shares during the period. Massachusetts Financial Services Co. MA owned 0.58% of American International Group worth $285,986,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. GFG Capital LLC purchased a new stake in American International Group during the 2nd quarter worth approximately $33,000. Barrett & Company Inc. purchased a new position in American International Group in the 2nd quarter valued at $35,000. NewSquare Capital LLC grew its holdings in shares of American International Group by 58.6% during the second quarter. NewSquare Capital LLC now owns 417 shares of the insurance provider’s stock worth $36,000 after buying an additional 154 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of American International Group in the second quarter valued at about $40,000. Finally, Hemington Wealth Management lifted its stake in shares of American International Group by 42.8% in the first quarter. Hemington Wealth Management now owns 474 shares of the insurance provider’s stock worth $41,000 after buying an additional 142 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Stock Down 0.9%

Shares of AIG opened at $77.68 on Monday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. The firm has a market cap of $41.91 billion, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 0.77 and a beta of 0.73. The company’s 50-day moving average price is $78.78 and its 200 day moving average price is $81.03. American International Group, Inc. has a 12-month low of $69.24 and a 12-month high of $88.07.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.63. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same period last year, the business earned $1.23 earnings per share. On average, sell-side analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 16th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, December 16th. American International Group’s dividend payout ratio (DPR) is currently 32.73%.

Analysts Set New Price Targets

A number of analysts have commented on AIG shares. Barclays increased their price objective on shares of American International Group from $93.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. William Blair raised American International Group to a “strong-buy” rating in a research note on Friday, August 1st. Piper Sandler reduced their price target on American International Group from $96.00 to $88.00 and set an “overweight” rating on the stock in a report on Thursday, October 2nd. Weiss Ratings reissued a “buy (b-)” rating on shares of American International Group in a report on Thursday. Finally, Morgan Stanley reduced their target price on shares of American International Group from $85.00 to $84.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.00.

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.