Truist Financial Corp Has $6.80 Million Position in American International Group, Inc. $AIG

Truist Financial Corp raised its stake in shares of American International Group, Inc. (NYSE:AIG) by 11.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 86,544 shares of the insurance provider’s stock after purchasing an additional 8,787 shares during the quarter. Truist Financial Corp’s holdings in American International Group were worth $6,797,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Monument Capital Management grew its stake in American International Group by 3.5% in the 2nd quarter. Monument Capital Management now owns 3,828 shares of the insurance provider’s stock valued at $328,000 after buying an additional 129 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of American International Group by 2.6% in the second quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock valued at $434,000 after purchasing an additional 129 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in shares of American International Group by 2.9% in the second quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock worth $396,000 after purchasing an additional 130 shares during the period. First Bank & Trust increased its stake in shares of American International Group by 2.2% in the third quarter. First Bank & Trust now owns 6,053 shares of the insurance provider’s stock worth $475,000 after purchasing an additional 131 shares during the period. Finally, AdvisorNet Financial Inc lifted its position in shares of American International Group by 8.3% during the 3rd quarter. AdvisorNet Financial Inc now owns 1,937 shares of the insurance provider’s stock worth $152,000 after purchasing an additional 149 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Trading Down 1.3%

Shares of American International Group stock opened at $73.89 on Tuesday. The company’s fifty day moving average price is $78.88 and its two-hundred day moving average price is $79.05. The firm has a market capitalization of $39.87 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 0.56 and a beta of 0.62. American International Group, Inc. has a 52-week low of $71.25 and a 52-week high of $88.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.32 and a quick ratio of 1.32.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.63. American International Group had a net margin of 11.89% and a return on equity of 9.09%. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same period in the previous year, the business earned $1.23 EPS. On average, analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Cantor Fitzgerald lowered their target price on American International Group from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, January 14th. Keefe, Bruyette & Woods raised their price objective on shares of American International Group from $91.00 to $96.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. HSBC cut their target price on shares of American International Group from $91.00 to $86.00 and set a “buy” rating for the company in a research note on Friday, January 16th. Wells Fargo & Company raised their price target on shares of American International Group from $83.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. Finally, Evercore ISI cut their price objective on shares of American International Group from $90.00 to $85.00 in a research report on Friday, January 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat, American International Group has an average rating of “Hold” and an average target price of $87.42.

About American International Group

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.