Capital Research & Management Co recently announced the acquisition of new stake in American International Group Inc (NYSE:AIG). The institutional investor has increased its shareholding in the Financial company by 6.63% to 41.59 million shares with purchase of 2.59 million shares. This fresh investment now brings its stake to 5.84% valued currently at $2.55 billion. In addition, Harris Associates LP raised its holdings by 0.33 million to 22.87 million shares. And Geode Capital Management LLC has lifted its position by 0.62% or 81991.0 shares – to 13.32 million shares.
With over 5.13 million American International Group Inc (AIG) shares trading Tuesday and a closing price of $66.95 on the day, the dollar volume was approximately $343.46 million. The shares have shown a positive half year performance of 18.22% and its price on 12/12/23 gained nearly 1.16%. Currently, there are 734.13M common shares owned by the public and among those 700.95M shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 20 analysts who have offered their price forecasts for AIG have a consensus price objective of $73.82. The analysts have set the share’s price value over the next 12 months at a high of $83.00 and a low of $67.00. The average price target is 9.31% above its recent price level and an upside to the estimated low will see the stock gain 0.07% over that period. But an upside of 19.34% will see the stock hit the forecast high price target while median target price for the stock is $73.50.
Insiders at the company have transacted a total of 56 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 31 of these insider trades were purchases, accounting for 957,717 shares. Insider sales of the common stock occurred on 25 occasions, with total insider shares sold totaling 468,565 shares.
The top 3 mutual fund holders in American International Group Inc are Vanguard Total Stock Market ETF, American Funds Investment Company, and Vanguard 500 Index Fund. Vanguard Total Stock Market ETF owns 22.28 million shares of the company’s stock, all valued at over $1.37 billion. The company bought an additional 0.12 million shares recently to bring their total holdings to about 3.13% of the shares outstanding. American Funds Investment Company sold 37223.0 shares to see its total holdings shrink to 20.44 million shares valued at over $1.25 billion and representing 2.87% of the shares outstanding. Vanguard 500 Index Fund bought 83493.0 shares to bring its total holdings to over 17.19 million shares at a value of $1.05 billion. Vanguard 500 Index Fund now owns shares totaling to 2.42% of the shares outstanding.
Shares of American International Group Inc (NYSE: AIG) opened at $66.17, down -$0.01 from a prior closing price of $66.18. However, the script later moved the day high at 67.39, up 1.16%. The company’s stock has a 5-day price change of 1.59% and 10.39% over the past three months. AIG shares are trading 5.87% year to date (YTD), with the 12-month market performance up to 7.10% higher. It has a 12-month low price of $45.66 and touched a high of $66.68 over the same period. AIG has an average intraday trading volume of 3.23 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.97%, 6.49%, and 15.87% respectively.
Institutional ownership of American International Group Inc (NYSE: AIG) shares accounts for 91.92% of the company’s 734.13M shares outstanding. Mutual fund holders own 56.33%, while other institutional holders and individual stakeholders account for 8.32% and 35.39% respectively.
It has a market capitalization of $47.00B and a beta (3y monthly) value of 1.04. The stock’s trailing 12-month PE ratio is 12.82, while the earnings-per-share (ttm) stands at $5.22. The company has a PEG of 0.81 and the debt-to-equity ratio at 0.60. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.65% over the week and 1.31% over the month.
Analysts forecast that American International Group Inc (AIG) will achieve an EPS of $1.7 for the current quarter, $1.75 for the next quarter and $7.59 for 2024. The lowest estimate earnings-per-share for the quarter is $1.53 while analysts give the company a high EPS estimate of $1.96. Comparatively, EPS for the current quarter was $1.36 a year ago. Earnings per share for the fiscal year are expected to increase by 46.49%, and 13.73% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 20 brokerage firm advisors rate American International Group Inc (AIG) as a “Strong Buy” at a consensus score of 1.75. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 7 of the 20 advise that investors “hold,” and 0 rated it as a “Sell.”
