Northwestern Mutual Wealth Management Co. Has $2.93 Million Position in American International Group, Inc. $AIG

Northwestern Mutual Wealth Management Co. reduced its stake in American International Group, Inc. by 34.1% in Q2, owning 34,209 shares worth $2.93 million. AIG reported Q3 earnings of $2.20 per share, beating estimates. Analysts forecast AIG's EPS at 6.24 for the fiscal year. AIG announced a quarterly dividend of $0.45 per share, with a yield of 2.3%. Analysts have adjusted AIG's target price, with ratings ranging from "outperform" to "neutral."

Northwestern Mutual Wealth Management Co. lessened its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 34.1% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 34,209 shares of the insurance provider's stock after selling 17,695 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in American International Group were worth $2,928,000 as of its most recent SEC filing.

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Other institutional investors and hedge funds have also bought and sold shares of the company. Groupama Asset Managment acquired a new stake in American International Group during the second quarter worth approximately $1,484,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in American International Group during the 2nd quarter worth approximately $428,000. Quadrant Capital Group LLC lifted its holdings in American International Group by 1.6% during the 2nd quarter. Quadrant Capital Group LLC now owns 14,504 shares of the insurance provider's stock worth $1,241,000 after purchasing an additional 227 shares during the last quarter. Vinva Investment Management Ltd boosted its stake in American International Group by 0.7% in the 2nd quarter. Vinva Investment Management Ltd now owns 249,584 shares of the insurance provider's stock valued at $21,112,000 after purchasing an additional 1,692 shares during the period. Finally, Employees Retirement System of Texas grew its holdings in American International Group by 10.4% in the 2nd quarter. Employees Retirement System of Texas now owns 153,341 shares of the insurance provider's stock valued at $13,124,000 after buying an additional 14,403 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company's stock.

American International Group Stock Performance

Shares of American International Group stock opened at $77.26 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.22. The company has a market cap of $41.69 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 0.81 and a beta of 0.62. The company has a 50 day moving average of $78.40 and a 200-day moving average of $80.43. American International Group, Inc. has a 1-year low of $69.24 and a 1-year high of $88.07.

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American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $2.20 EPS 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 during the quarter, compared to the consensus estimate of $6.82 billion. During the same period in the previous year, the business earned $1.23 earnings per share. As a group, equities research analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 16th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, December 16th. American International Group's dividend payout ratio is currently 32.73%.

Analyst Upgrades and Downgrades

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AIG has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reduced their target price on shares of American International Group from $97.00 to $91.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. Jefferies Financial Group cut their price objective on shares of American International Group from $99.00 to $96.00 in a report on Friday, November 7th. Piper Sandler decreased their target price on shares of American International Group from $96.00 to $88.00 and set an "overweight" rating on the stock in a research report on Thursday, October 2nd. Bank of America lifted their price target on shares of American International Group from $88.00 to $94.00 and gave the company a "neutral" rating in a research report on Monday, October 13th. Finally, Royal Bank Of Canada began coverage on American International Group in a research note on Tuesday, November 25th. They issued a "sector perform" rating and a $85.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.44.

Read Our Latest Report on AIG

American International Group Profile

(Free Report)

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.

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