Capital Research & Management Co has recently announced that it has increased stake in American International Group Inc (NYSE:AIG) by 6.63%. After grabbing 41.59 million shares, the institutional investor is now in possession of 2.59 million shares of the Financial Company. The new investment brought the stake of investor firm to 5.93% having worth around $2.82 billion. Moreover, Harris Associates LP increased its share by 0.33 million to have a control over 22.87 million shares. And Geode Capital Management LLC raised its holdings to 81991.0 shares by acquiring 13.32 million shares or 1.90% of the stake.
American International Group Inc (AIG) concluded trading on Thursday at a closing price of $68.98, with 3.94 million shares of worth about $271.7 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 13.38% during that period and on Thursday, January 25 the price saw a loss of about -0.26%. Currently the company’s common shares owned by public are about 734.13M shares, out of which, 700.71M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 34 times over the past 12 months. They bought 643,512 shares in 20 of the transactions. In 14 selling transactions, insiders dumped 331,159 shares.
Vanguard Total Stock Market ETF, American Funds Investment Company, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in American International Group Inc Vanguard Total Stock Market ETF is currently holding 22.03 million shares of worth totaling $1.49 billion. The company recently came selling -0.28 million shares which brought its stake up to 3.14% of the company’s outstanding shares. Vanguard 500 Index Fund, after selling 17.14 million shares, have now control over 2.44% of the stake in the company. It holds -0.21 million shares of worth $1.16 billion.
Stock saw a price change of 2.59% in past 5 days and over the past one month there was a price change of 3.06%. Year-to-date (YTD), AIG shares are showing a performance of 1.82% which increased to 9.21% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $45.66 but also hit the highest price of $69.76 during that period. The average intraday trading volume for American International Group Inc shares is 3.47 million. The stock is currently trading 1.38% above its 20-day simple moving average (SMA20), while that difference is up 3.70% for SMA50 and it goes to 15.03% higher than SMA200.
Capital Research & Management Co acquired 41.59 million shares of American International Group Inc having value of about $2.82 billion. Data submitted at the U.S SEC by Capital Research & Management Co revealed that the firm now holds 2.59 million shares in the company valued at close to $178371657.08, or have control over 6.63% stake in the company. American International Group Inc (NYSE: AIG) currently have 734.13M outstanding shares and institutions hold larger chunk of about 91.78% of that. Holding of mutual funds in the company is about 56.79% while other institutional holders and individual stake holders have control over 8.47% and 36.11% of the stake respectively.
The stock has a current market capitalization of $48.43B and its 3Y-monthly beta is at 1.03. PE ratio of stock for trailing 12 months is 13.20, while it has posted earnings per share of $5.22 in the same period. Its PEG reads 0.92 while making debt-to-equity ratio of 0.60. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for AIG, volatility over the week remained 1.29% while standing at 1.30% over the month.
Analysts are in expectations that American International Group Inc (AIG) stock would likely to be making an EPS of $1.65 in the current quarter, while forecast for next quarter EPS is $1.74 and it is $7.43 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.53 which is $1.96 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.36 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 46.39% while it is estimated to increase by 11.70% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by TD Cowen on January 10, 2024 offering a Market perform rating for the stock and assigned a target price of $78 to it.
