Meiji Yasuda Asset Management Co Ltd. Increases Stock Position in American International Group, Inc. $AIG

Meiji Yasuda Asset Management Co Ltd. raised its position in American International Group, Inc. (NYSE:AIG) by 258.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 12,183 shares of the insurance provider’s stock after purchasing an additional 8,788 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in American International Group were worth $908,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Modus Advisors LLC bought a new position in shares of American International Group in the fourth quarter valued at approximately $27,000. Navalign LLC bought a new stake in American International Group during the fourth quarter worth $29,000. Mcguire Capital Advisors Inc. purchased a new position in American International Group in the fourth quarter worth $29,000. SHP Wealth Management bought a new position in American International Group in the 4th quarter valued at $34,000. Finally, CENTRAL TRUST Co increased its position in shares of American International Group by 48.7% during the 1st quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 151 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Price Performance

Shares of NYSE AIG opened at $76.44 on Wednesday. The stock has a fifty day moving average of $77.77 and a 200-day moving average of $77.01. The stock has a market cap of $39.97 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 0.71 and a beta of 0.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.29.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Thursday, August 6th. The insurance provider reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.08. American International Group had a return on equity of 11.05% and a net margin of 11.13%.The firm had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.25 billion. During the same period in the prior year, the business posted $1.81 earnings per share. Equities research analysts anticipate that American International Group, Inc. will post 8.02 earnings per share for the current year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, September 16th. American International Group’s dividend payout ratio (DPR) is presently 36.56%.

Analyst Ratings Changes

AIG has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price target on shares of American International Group from $89.00 to $85.00 and set an “equal weight” rating on the stock in a report on Monday, August 10th. UBS Group increased 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, July 8th. Weiss Ratings raised shares of American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. BMO Capital Markets raised their target price on American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. Finally, Piper Sandler upped their price target on American International Group from $80.00 to $84.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Seven research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $88.28.

Insider Activity at American International Group

In other news, insider Peter Zaffino sold 200,000 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total value of $15,294,000.00. Following the transaction, the insider owned 592,833 shares of the company’s stock, valued at approximately $45,333,939.51. This represents a 25.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by company insiders.

American International Group Company 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.