Wesbanco Bank Inc. Makes New $342,000 Investment in American International Group, Inc. (NYSE:AIG)

Posted by on Mar 28th, 2023

Wesbanco Bank Inc. bought a new position in American International Group, Inc. (NYSE:AIG – Get Rating) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,407 shares of the insurance provider’s stock, valued at approximately $342,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in AIG. Marshall Wace LLP boosted its holdings in shares of American International Group by 246.5% in the third quarter. Marshall Wace LLP now owns 4,967,526 shares of the insurance provider’s stock worth $235,857,000 after buying an additional 3,534,049 shares during the period. AQR Capital Management LLC boosted its holdings in shares of American International Group by 175.6% in the second quarter. AQR Capital Management LLC now owns 3,371,929 shares of the insurance provider’s stock worth $167,551,000 after buying an additional 2,148,227 shares during the period. Balyasny Asset Management LLC boosted its holdings in shares of American International Group by 498.7% in the third quarter. Balyasny Asset Management LLC now owns 1,753,805 shares of the insurance provider’s stock worth $83,271,000 after buying an additional 1,460,878 shares during the period. Prudential Financial Inc. boosted its holdings in shares of American International Group by 82.5% during the second quarter. Prudential Financial Inc. now owns 2,622,075 shares of the insurance provider’s stock worth $134,059,000 after purchasing an additional 1,185,104 shares during the period. Finally, GQG Partners LLC boosted its holdings in shares of American International Group by 14.4% during the second quarter. GQG Partners LLC now owns 9,109,926 shares of the insurance provider’s stock worth $466,068,000 after purchasing an additional 1,146,973 shares during the period. 89.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AIG has been the subject of several research reports. Atlantic Securities cut shares of American International Group from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $70.00 to $65.00 in a report on Wednesday, February 22nd. StockNews.com initiated coverage on shares of American International Group in a report on Thursday, March 16th. They set a “hold” rating for the company. Wells Fargo & Company raised their price target on shares of American International Group from $61.00 to $66.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 18th. Royal Bank of Canada raised their price target on shares of American International Group from $68.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, December 14th. Finally, JPMorgan Chase & Co. assumed coverage on shares of American International Group in a report on Wednesday, November 30th. They set a “neutral” rating for the company. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $65.08.

American International Group Trading Up 0.3 %

NYSE:AIG opened at $47.46 on Tuesday. American International Group, Inc. has a 12 month low of $45.66 and a 12 month high of $65.73. The firm has a market cap of $34.99 billion, a price-to-earnings ratio of 3.71, a P/E/G ratio of 0.76 and a beta of 1.15. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.65. The company’s 50 day moving average is $58.24 and its 200-day moving average is $57.98.

American International Group (NYSE:AIG – Get Rating) last released its quarterly earnings results on Thursday, February 16th. The insurance provider reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.17. American International Group had a net margin of 18.21% and a return on equity of 7.70%. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.84 billion. During the same quarter last year, the firm posted $1.58 earnings per share. Equities analysts anticipate that American International Group, Inc. will post 6.22 EPS for the current year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Thursday, March 16th. American International Group’s dividend payout ratio is 10.02%.

About American International Group

(Get Rating)

American International Group, Inc engages in the provision of a range of property casualty insurance, life insurance, retirement products, and other financial services to commercial and individual customers. It operates through the following segments: General Insurance, Life and Retirement and Other Operations.

Read More

Institutional Ownership by Quarter for American International Group (NYSE:AIG)

Receive News & Ratings for American International Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American International Group and related companies with MarketBeat.com's FREE daily email newsletter.