TD Asset Management Inc Raises Stake in American International Group, Inc. $AIG

TD Asset Management Inc boosted its stake in shares of American International Group, Inc. (NYSE:AIG) by 48.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 420,621 shares of the insurance provider’s stock after purchasing an additional 136,933 shares during the period. TD Asset Management Inc’s holdings in American International Group were worth $33,036,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Westfuller Advisors LLC purchased a new position in American International Group in the third quarter valued at approximately $26,000. Atlantic Union Bankshares Corp lifted its position in shares of American International Group by 7,100.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock valued at $28,000 after buying an additional 355 shares during the last quarter. Eastern Bank grew its stake in shares of American International Group by 2,473.3% during the 3rd quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 371 shares during the period. Twin Peaks Wealth Advisors LLC bought a new position in shares of American International Group during the 2nd quarter worth $32,000. Finally, Motco increased its holdings in American International Group by 950.0% in the 3rd quarter. Motco now owns 420 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 380 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Trading Up 0.1%

Shares of American International Group stock opened at $80.40 on Friday. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $88.07. The company has a 50 day simple moving average of $78.24 and a two-hundred day simple moving average of $78.96. The firm has a market cap of $43.14 billion, a PE ratio of 14.83, a PEG ratio of 0.62 and a beta of 0.61. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Tuesday, February 10th. The insurance provider reported $1.96 EPS 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 business had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.99 billion. During the same period last year, the business earned $1.30 earnings per share. Analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The business also recently disclosed 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. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, March 16th. American International Group’s payout ratio is presently 33.21%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Jefferies Financial Group increased their target price on shares of American International Group from $96.00 to $101.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. TD Cowen upped their price target on shares of American International Group from $86.00 to $90.00 and gave the company a “hold” rating in a research note on Tuesday, December 16th. Wall Street Zen downgraded shares of American International Group from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Bank of America lowered their target price on shares of American International Group from $89.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, January 16th. Finally, Keefe, Bruyette & Woods increased their target price on American International Group from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, American International Group currently has an average rating of “Hold” and an average price target of $87.58.

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.