Cambridge Investment Research Advisors Inc. Reduces Stock Position in American International Group, Inc. (NYSE:AIG)

Posted by on May 14th, 2023

Cambridge Investment Research Advisors Inc. lessened its holdings in American International Group, Inc. (NYSE:AIG – Get Rating) by 8.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 51,594 shares of the insurance provider’s stock after selling 4,464 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in American International Group were worth $3,263,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Van ECK Associates Corp increased its position in American International Group by 5.5% during the fourth quarter. Van ECK Associates Corp now owns 7,939 shares of the insurance provider’s stock valued at $502,000 after acquiring an additional 411 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of American International Group by 8.8% in the fourth quarter. Nordea Investment Management AB now owns 198,232 shares of the insurance provider’s stock worth $12,548,000 after purchasing an additional 15,965 shares during the last quarter. Connectus Wealth LLC grew its holdings in shares of American International Group by 49.9% in the fourth quarter. Connectus Wealth LLC now owns 151,931 shares of the insurance provider’s stock worth $9,622,000 after purchasing an additional 50,574 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of American International Group by 64.4% in the fourth quarter. Toronto Dominion Bank now owns 589,848 shares of the insurance provider’s stock worth $37,279,000 after purchasing an additional 231,124 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of American International Group in the fourth quarter worth about $272,000. Institutional investors own 89.01% of the company’s stock.

American International Group Price Performance

American International Group stock opened at $52.49 on Friday. The company’s fifty day moving average price is $51.47 and its 200 day moving average price is $57.92. American International Group, Inc. has a 1 year low of $45.66 and a 1 year high of $64.88. The stock has a market capitalization of $37.99 billion, a P/E ratio of 6.85, a P/E/G ratio of 0.88 and a beta of 1.11. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.31 and a current ratio of 0.31.

American International Group (NYSE:AIG – Get Rating) last released its quarterly earnings results on Friday, May 5th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.20. American International Group had a net margin of 11.71% and a return on equity of 8.70%. The firm had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $11.35 billion. During the same quarter last year, the company earned $1.30 EPS. As a group, equities research analysts anticipate that American International Group, Inc. will post 6.13 earnings per share for the current fiscal year.

American International Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be issued a $0.36 dividend. The ex-dividend date is Thursday, June 15th. This represents a $1.44 dividend on an annualized basis and a yield of 2.74%. This is a positive change from American International Group’s previous quarterly dividend of $0.32. American International Group’s dividend payout ratio (DPR) is presently 18.80%.

Analysts Set New Price Targets

A number of research analysts have recently commented on AIG shares. BMO Capital Markets started coverage on shares of American International Group in a report on Thursday, January 19th. They issued a “market perform” rating and a $64.00 price target on the stock. StockNews.com started coverage on shares of American International Group in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Citigroup lowered their price objective on shares of American International Group from $71.00 to $70.00 in a research note on Tuesday, April 18th. TheStreet lowered shares of American International Group from a “b” rating to a “c+” rating in a research note on Thursday, May 4th. Finally, Evercore ISI lowered their price objective on shares of American International Group from $70.00 to $63.00 and set an “in-line” rating for the company in a research note on Thursday, April 13th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $67.00.

American International Group Company Profile

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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.

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

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