The Manufacturers Life Insurance Company Boosts Stake in American International Group, Inc. (NYSE:AIG)

The Manufacturers Life Insurance Company increased its stake in American International Group, Inc. (NYSE:AIG) by 2.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 792,181 shares of the insurance provider’s stock after acquiring an additional 20,545 shares during the period. The Manufacturers Life Insurance Company owned about 0.13% of American International Group worth $58,011,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. increased its position in shares of American International Group by 7.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 29,286 shares of the insurance provider’s stock valued at $2,289,000 after purchasing an additional 1,982 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of American International Group by 14.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 13,133 shares of the insurance provider’s stock worth $1,027,000 after acquiring an additional 1,675 shares in the last quarter. iA Global Asset Management Inc. lifted its holdings in shares of American International Group by 4.1% in the 1st quarter. iA Global Asset Management Inc. now owns 11,093 shares of the insurance provider’s stock worth $867,000 after acquiring an additional 435 shares during the last quarter. Plato Investment Management Ltd grew its holdings in shares of American International Group by 406.7% during the 1st quarter. Plato Investment Management Ltd now owns 4,961 shares of the insurance provider’s stock valued at $388,000 after purchasing an additional 3,982 shares during the last quarter. Finally, Swedbank AB bought a new position in shares of American International Group during the 1st quarter valued at $99,951,000. Institutional investors own 90.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Barclays started 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. TD Cowen reduced their price target on American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. Piper Sandler lowered their price objective on American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. StockNews.com upgraded shares of American International Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Finally, Bank of America lifted their target price on shares of American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, American International Group currently has an average rating of “Moderate Buy” and an average price target of $84.80.

American International Group Stock Up 1.1 %

Shares of American International Group stock opened at $77.13 on Thursday. American International Group, Inc. has a 1 year low of $64.54 and a 1 year high of $80.83. The firm has a market cap of $48.11 billion, a price-to-earnings ratio of -22.75, a PEG ratio of 7.53 and a beta of 1.05. The company has a 50-day moving average of $75.69 and a 200 day moving average of $75.51. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65.

American International Group (NYSE:AIG) last released its earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.10 by $0.13. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. The business had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the previous year, the company posted $1.61 earnings per share. As a group, sell-side analysts anticipate that American International Group, Inc. will post 5.12 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s payout ratio is -47.20%.

Insider Buying and Selling

In related news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the transaction, the insider now owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This trade represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.61% of the stock is owned by corporate insiders.

About American International Group

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.