Wellington Management Group LLP Boosts Stock Position in American International Group, Inc. $AIG

Wellington Management Group LLP boosted its position in American International Group, Inc. (NYSE:AIG) by 7.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,046,055 shares of the insurance provider’s stock after purchasing an additional 1,899,203 shares during the quarter. Wellington Management Group LLP’s holdings in American International Group were worth $2,045,657,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Westfuller Advisors LLC purchased a new position in shares of American International Group in the 3rd quarter worth approximately $26,000. Atlantic Union Bankshares Corp lifted its position in American International Group by 7,100.0% during the third quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 355 shares during the last quarter. Eastern Bank lifted its position in American International Group by 2,473.3% during the third quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 371 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in American International Group in the second quarter valued at approximately $32,000. Finally, Motco boosted its stake in American International Group by 950.0% in the third quarter. Motco now owns 420 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 380 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Bank of America reduced their price target on American International Group from $89.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, January 16th. TD Cowen raised their price objective on American International Group from $86.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday, December 16th. The Goldman Sachs Group upgraded American International Group from a “neutral” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Thursday, March 5th. Barclays reduced their target price on American International Group from $81.00 to $79.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 11th. Finally, Royal Bank Of Canada started coverage on American International Group in a report on Tuesday, November 25th. They issued a “sector perform” rating and a $85.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $88.22.

American International Group Trading Up 0.3%

NYSE AIG opened at $76.72 on Friday. The company has a fifty day simple moving average of $76.71 and a two-hundred day simple moving average of $78.77. The stock has a market cap of $41.16 billion, a P/E ratio of 14.15, a P/E/G ratio of 0.58 and a beta of 0.58. American International Group, Inc. has a 12-month low of $71.25 and a 12-month high of $88.07. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.06. American International Group had a net margin of 11.56% and a return on equity of 9.79%. The firm had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.99 billion. During the same period in the previous year, the company earned $1.30 earnings per share. On average, analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. American International Group’s payout ratio is currently 33.21%.

American International Group 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.