August 10, 2023 – Mirae Asset Global Investments Co. Ltd., a leading global finance company, has recently increased its stake in American International Group, Inc. (NYSE: AIG). According to their disclosure with the Securities & Exchange Commission, Mirae Asset now owns 111,975 shares of AIG’s stock, representing a 12.4% increase from the previous quarter. This acquisition brings Mirae Asset’s holdings in AIG to a value of $5,639,000.
American International Group is an insurance provider known for its wide range of offerings and global presence. The news of Mirae Asset’s increased stake in AIG highlights the confidence that institutional investors have in the company and its potential for growth.
Several brokering firms have also weighed in on AIG with their assessments and predictions. For instance, Keefe, Bruyette & Woods lowered their target price on AIG shares from $76.00 to $73.00 but maintained an “outperform” rating on the stock in a recent research report. StockNews.com began coverage on AIG and gave it a “hold” rating earlier this year.
In addition, TheStreet upgraded its rating of AIG from a “c+” to a “b-” in June 2023. It is worth noting that Barclays raised their price target on the stock from $58.00 to $66.00 and assigned it an “equal weight” rating just last week. On the other hand, Bank of America revised their target price downwards from $73.00 to $68.00 back in June.
Currently, American International Group holds an average rating of “Hold” according to Bloomberg.com’s analysis. Analysts maintain a consensus price target for the stock at around $67.79.
As we turn our attention to specific financials and performance indicators, NYSE:AIG opened trading at $60.34 on Thursday. Over the past year, AIG’s stock has ranged from a low of $45.66 to a high of $64.88, showcasing its potential for both risk and rewards for investors.
AIG boasts a market capitalization of $42.96 billion, reflecting its significant presence in the insurance industry. With a price-earnings ratio of 10.21 and a lower P/E-to-growth ratio of 0.94, AIG’s stock appears to be fairly valued with room for future growth.
Additionally, AIG’s beta stands at 1.13, signifying volatility slightly above the market average. The firm maintains a fifty-day simple moving average of $58.10 and a two-hundred-day simple moving average of $56.07.
Taking into consideration liquidity ratios, American International Group has a current ratio and quick ratio of 0.29 each, suggesting that it may face challenges in meeting short-term obligations if necessary.
Furthermore, AIG’s debt-to-equity ratio is impressively low at 0.06, indicating that the company employs minimal debt to support its operations and investments.
Mirae Asset Global Investments Co.’s increased stake in American International Group showcases the confidence in AIG’s long-term potential by institutional investors like themselves and sets an example for other market players to consider analyzing their exposure to this prominent insurance provider.
Investors should carefully review all available information about American International Group before making any investment decisions as stock prices can fluctuate rapidly due to various factors such as overall economic conditions or changes within the insurance industry itself.
As always, it is essential for investors to conduct thorough research and consult with their financial advisors before making any investment decisions based on these findings or any other information regarding stock positions or businesses globally.
American International Group, Inc.
AIG
Strong Buy
Updated on: 11/08/2023
AIG’s Stock Holdings Experience Changes Amidst Institutional Investors and Analyst Ratings
American International Group (AIG), a leading insurance provider, has seen several changes in its stock holdings lately. Institutional investors and hedge funds have made adjustments to their positions in the company. U.S. Capital Wealth Advisors LLC recently acquired a new position in AIG, valuing it at approximately $28,000. Similarly, Thompson Investment Management Inc. purchased shares worth the same amount in the first quarter of this year. Additionally, International Assets Investment Management LLC bought new shares valued at around $29,000 during the fourth quarter of last year.
Creative Capital Management Investments LLC is another institutional investor that bought shares of AIG in the first quarter, with a value of $43,000. Motco also entered the mix by acquiring a position worth $53,000 during the fourth quarter of 2022. These institutional investors now own 88.18% of AIG’s stock.
In other news related to AIG, director William G. Jurgensen sold 475 shares on June 5th for an average price of $55.03 per share, totaling $26,139.25. Following the sale, Jurgensen holds 1,025 shares valued at $56,4057.75.
Major shareholder International Group American carried out a significant transaction on June 12th by selling 74,750,000 shares of AIG stock for an average price of $16.25 per share – resulting in a total transaction value of $1,214,687,500.
These transactions were disclosed through filings with the Securities & Exchange Commission (SEC). The complete details can be accessed through the SEC website.
Alongside these developments amongst shareholders and directors at AIG comes insight from various brokerages regarding the company’s performance and prospects for growth.
Keefe Bruyette & Woods reduced its target price from $76 to $73 and gave AIG an “outperform” rating based on their research report. StockNews.com initiated coverage on AIG with a “hold” rating. TheStreet upgraded the company’s rating from a “c+” to a “b-“. Barclays increased their price target from $58 to $66, providing an “equal weight” rating for AIG. Bank of America, however, reduced its target price from $73 to $68.
Overall, American International Group has received mixed ratings from analysts. Nine analysts suggest holding the stock, while six recommend buying it. According to Bloomberg.com, the average rating is classified as “Hold,” and the consensus price target stands at $67.79.
On August 2nd, AIG released its earnings results – reporting earnings per share (EPS) of $1.75 for the quarter. This surpassed analysts’ consensus estimate of $1.54 by $0.21. The company recorded revenue of $13.22 billion for the quarter compared to analyst estimates of $12.28 billion.
American International Group revealed that it had a return on equity (ROE) of 9.28% and a net margin of 8.94%. In comparison, during the same period in the prior year, AIG reported an EPS of $1.19.
Analysts project that AIG will post an EPS of 6.62 for the current fiscal year.
Additionally, AIG recently announced a quarterly dividend set to be paid on September 29th to shareholders registered as at September 15th. The dividend amount is $0.36 per share, which represents an annualized dividend payout ratio of 24.37%. With an ex-dividend date on September 14th, investors can anticipate this regular payout.
AIG continues to garner attention due to its recent stock transactions amongst institutional investors and brokers’ outlooks on its performance and future potential. As one of the leading insurance providers in the market today, AIG navigates the ups and downs of the industry to stay competitive and deliver value to its shareholders.
