Meiji Yasuda Asset Management Co Ltd. Grows Stock Holdings in American International Group, Inc. (NYSE:AIG)

Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of American International Group, Inc. (NYSE:AIG) by 9.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,184 shares of the insurance provider’s stock after purchasing an additional 954 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in American International Group were worth $830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. TCW Group Inc. purchased a new position in shares of American International Group during the 4th quarter valued at approximately $724,000. Cetera Investment Advisers increased its holdings in American International Group by 348.6% in the first quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock valued at $4,506,000 after buying an additional 44,797 shares in the last quarter. Vinva Investment Management Ltd acquired a new position in shares of American International Group in the fourth quarter worth about $1,699,000. OFI Invest Asset Management boosted its stake in shares of American International Group by 2,208.3% during the 2nd quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock worth $710,000 after acquiring an additional 9,805 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in shares of American International Group by 64.3% during the 1st quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider’s stock valued at $2,227,000 after acquiring an additional 11,149 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Stock Down 0.2 %

NYSE:AIG opened at $73.76 on Friday. American International Group, Inc. has a 52 week low of $57.72 and a 52 week high of $80.83. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22. The stock’s fifty day moving average is $74.55 and its two-hundred day moving average is $75.67. The stock has a market capitalization of $48.95 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of 3.60 and a beta of 1.06.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.14). The business had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.75 EPS. Research analysts anticipate that American International Group, Inc. will post 5.24 EPS for the current year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.17%. The ex-dividend date is Monday, September 16th. American International Group’s dividend payout ratio (DPR) is presently 23.88%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Citigroup reduced their price target on American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, July 23rd. Piper Sandler dropped their price target on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Bank of America upped their price objective on shares of American International Group from $81.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lifted their target price on shares of American International Group from $80.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Finally, Barclays initiated coverage on shares of American International Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, American International Group currently has an average rating of “Hold” and an average target price of $83.88.

Insider Buying and Selling at American International Group

In other American International Group news, major shareholder International Group American sold 8,032,129 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the completion of the sale, the insider now directly owns 284,238,898 shares of the company’s stock, valued at approximately $7,077,548,560.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 14,964,738 shares of company stock worth $400,732,195 over the last ninety days. Corporate insiders own 0.61% of the company’s stock.

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.