Mirae Asset Global Investments Co. Ltd. grew its position in shares of American International Group, Inc. (NYSE:AIG – Get Rating) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 99,605 shares of the insurance provider’s stock after acquiring an additional 3,532 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in American International Group were worth $6,299,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the company. Accurate Wealth Management LLC acquired a new stake in shares of American International Group in the 4th quarter valued at approximately $25,000. Arcus Capital Partners LLC acquired a new stake in shares of American International Group in the 4th quarter valued at approximately $25,000. U.S. Capital Wealth Advisors LLC acquired a new stake in American International Group during the 4th quarter valued at $28,000. International Assets Investment Management LLC acquired a new stake in American International Group during the 4th quarter valued at $29,000. Finally, Guardian Wealth Advisors LLC acquired a new stake in American International Group during the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 89.01% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the company. Credit Suisse Group reaffirmed a “neutral” rating and set a $60.00 price target on shares of American International Group in a report on Friday, April 21st. TheStreet downgraded American International Group from a “b” rating to a “c+” rating in a report on Thursday, May 4th. Jefferies Financial Group cut their price target on American International Group from $75.00 to $67.00 and set a “buy” rating for the company in a report on Monday, April 10th. Piper Sandler raised their price target on American International Group from $73.00 to $76.00 in a report on Monday, May 8th. Finally, StockNews.com initiated coverage on American International Group in a report on Thursday, May 18th. They set a “hold” rating for the company. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $67.00.
American International Group Stock Up 0.2 %
American International Group (NYSE:AIG – Get Rating) last released its quarterly earnings data on Friday, May 5th. The insurance provider reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.20. The business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $11.35 billion. American International Group had a return on equity of 8.55% and a net margin of 11.71%. During the same period last year, the firm posted $1.30 earnings per share. Sell-side analysts forecast that American International Group, Inc. will post 6.47 earnings per share for the current fiscal year.
American International Group Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.67%. This is a positive change from American International Group’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, June 15th. American International Group’s dividend payout ratio (DPR) is presently 16.71%.
About American International Group
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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