Sumitomo Mitsui Trust Group Inc. Has $94.05 Million Position in American International Group, Inc. $AIG

Sumitomo Mitsui Trust Group Inc. cut its position in shares of American International Group, Inc. (NYSE:AIG) by 5.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,249,855 shares of the insurance provider’s stock after selling 67,448 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.23% of American International Group worth $94,052,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AIG. Geneos Wealth Management Inc. boosted its position in American International Group by 2.6% during the 2nd quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock worth $434,000 after acquiring an additional 129 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of American International Group by 2.9% in the second quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock valued at $396,000 after purchasing an additional 130 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of American International Group by 12.6% in the fourth quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider’s stock valued at $107,000 after purchasing an additional 140 shares during the last quarter. GW&K Investment Management LLC lifted its position in shares of American International Group by 8.1% in the fourth quarter. GW&K Investment Management LLC now owns 1,917 shares of the insurance provider’s stock worth $164,000 after purchasing an additional 144 shares in the last quarter. Finally, Kestra Private Wealth Services LLC lifted its position in shares of American International Group by 1.3% in the first quarter. Kestra Private Wealth Services LLC now owns 11,048 shares of the insurance provider’s stock worth $831,000 after purchasing an additional 146 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Analyst Upgrades and Downgrades

AIG has been the subject of a number of analyst reports. UBS Group raised their target price on shares of American International Group from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday. Wells Fargo & Company increased their price objective on shares of American International Group from $85.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Thursday. BMO Capital Markets raised their price objective on American International Group from $83.00 to $89.00 in a report on Thursday, May 7th. JPMorgan Chase & Co. lowered their target price on American International Group from $97.00 to $86.00 and set a “neutral” rating on the stock in a research report on Monday, April 20th. Finally, Cantor Fitzgerald upgraded American International Group from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $85.00 to $92.00 in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, American International Group has an average rating of “Moderate Buy” and an average target price of $88.44.

Key Headlines Impacting American International Group

Here are the key news stories impacting American International Group this week:

• Positive Sentiment: Cantor Fitzgerald upgraded AIG from neutral to overweight and lifted its price target to $92, citing continued Q1 momentum. AIG raised to overweight at Cantor based on Q1 momentum continuing
• Positive Sentiment: Mizuho raised its price target on AIG to $89 from $86, reflecting higher valuation expectations even while keeping a neutral rating. American International Group (NYSE:AIG) Price Target Raised to $89.00 at Mizuho
• Positive Sentiment: Wells Fargo also increased its target on AIG to $89 from $85, suggesting analysts see further upside from current levels. Benzinga report on Wells Fargo target increase
• Neutral Sentiment: Barclays reaffirmed its hold rating on AIG, which does not add to the bullish case but shows the stock still has analyst attention. Barclays Reaffirms Their Hold Rating on American International Group (AIG)
• Neutral Sentiment: UBS issued a positive forecast for AIG, but no specific target change or upgrade was detailed in the provided item. UBS Group Issues Positive Forecast for American International Group (NYSE:AIG) Stock Price

American International Group Stock Performance

Shares of AIG traded up $0.02 during midday trading on Friday, reaching $79.13. The stock had a trading volume of 2,016,479 shares, compared to its average volume of 4,120,387. The firm has a 50 day simple moving average of $76.22 and a 200-day simple moving average of $76.99. American International Group, Inc. has a one year low of $71.25 and a one year high of $87.29. The firm has a market cap of $41.96 billion, a PE ratio of 13.96, a P/E/G ratio of 0.72 and a beta of 0.53. 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 issued its earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.22. The company had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $7.03 billion. American International Group had a net margin of 11.86% and a return on equity of 10.93%. During the same period in the prior year, the firm earned $1.17 EPS. As a group, sell-side analysts anticipate that American International Group, Inc. will post 8 EPS for the current year.

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. This is a boost from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Monday, June 15th. American International Group’s dividend payout ratio (DPR) is presently 35.27%.

American International Group Profile

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.