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Institutional investors are increasing their stakes in American International Group (AIG). Fortitude Family Office raised its position by 199.2% in Q2, now holding 359 shares valued at $27,000. Other firms, including Y.D. More Investments and Rise Advisors, also acquired new positions valued around $27,000 to $29,000. Valued Wealth Advisors boosted its stake by 303.3%, holding 367 shares after acquiring more in Q1. Versant Capital Management increased its stake by 326.0% in Q2, now owning 443 shares valued at $33,000. Overall, institutions own 90.60% of AIGs stock.
Insider Activity
On September 16, major shareholder International Group American sold 5 million AIG shares at $28.86, totaling $144.3 million. Post-sale, they own 279,238,898 shares, valued at over $8 billion. Insiders currently hold 0.61% of the stock.
Analysts Set New Price Targets
Recent analyst reports show Citigroup lowering AIG’s price target from $89 to $87 (buy rating), while Bank of America increased it to $82 (neutral rating). Piper Sandler and Keefe, Bruyette & Woods also adjusted their targets down. AIG has a consensus rating of Hold and a target price of $83.88 through MarketBeat.com.
AIG Performance
AIG shares opened at $72.45, with a market cap of $48.08 billion and a PE ratio of 10.81. Its 52-week high is $80.83, and recent earnings reported $1.16 EPS, missing estimates, with revenue expectations of $11.64 billion. Analysts foresee AIG posting $5.24 EPS this year.
Dividend Announcement
AIG declared a quarterly dividend of $0.40 paid on September 30, yielding 2.21% with a payout ratio of 23.88%.
Company Profile
(Free Report) AIG offers various insurance products through segments like General Insurance, Life and Retirement, and Others.
See Also
- Five stocks we like better than American International Group
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