Simplicity Solutions LLC Grows Stake in American International Group, Inc. (NYSE:AIG)

Simplicity Solutions LLC boosted its position in shares of American International Group, Inc. (NYSE:AIG) by 3.2% in the fourth quarter, Holdings Channel reports. The fund owned 23,231 shares of the insurance provider’s stock after purchasing an additional 724 shares during the quarter. Simplicity Solutions LLC’s holdings in American International Group were worth $1,574,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. OFI Invest Asset Management purchased a new stake in shares of American International Group during the 3rd quarter valued at about $26,000. Headlands Technologies LLC bought a new stake in American International Group during the third quarter valued at approximately $32,000. CNB Bank purchased a new stake in American International Group during the third quarter valued at approximately $42,000. SouthState Corp raised its position in American International Group by 41.7% in the third quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock worth $45,000 after acquiring an additional 217 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of American International Group by 41.7% during the 4th quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock worth $53,000 after acquiring an additional 232 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

Wall Street Analysts Forecast Growth

AIG has been the subject of several analyst reports. Evercore ISI upped their price objective on American International Group from $74.00 to $80.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Bank of America downgraded American International Group from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $75.00 to $77.00 in a research note on Tuesday, February 20th. TD Cowen began coverage on American International Group in a research report on Wednesday, January 10th. They set a “market perform” rating and a $78.00 price objective on the stock. Royal Bank of Canada increased their target price on shares of American International Group from $76.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Finally, JPMorgan Chase & Co. lifted their price target on shares of American International Group from $73.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $78.06.

American International Group Stock Down 0.9 %

AIG opened at $73.05 on Tuesday. American International Group, Inc. has a 52 week low of $48.95 and a 52 week high of $78.95. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.44. The firm has a 50-day simple moving average of $73.86 and a two-hundred day simple moving average of $68.17. The company has a market capitalization of $49.74 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 1.04 and a beta of 1.03.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.20. The business had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $11.61 billion. American International Group had a return on equity of 10.68% and a net margin of 7.78%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the business posted $1.36 EPS. Analysts forecast that American International Group, Inc. will post 7.11 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Wednesday, March 13th. American International Group’s payout ratio is 28.86%.

Insider Buying and Selling at American International Group

In other American International Group news, Director John C. Inglis bought 659 shares of American International Group stock in a transaction dated Thursday, March 14th. The shares were purchased at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the acquisition, the director now directly owns 659 shares in the company, valued at approximately $49,682.01. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.87, for a total value of $25,264,710.00. Following the completion of the sale, the chief executive officer now directly owns 505,420 shares in the company, valued at $38,346,215.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John C. Inglis acquired 659 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $75.39 per share, with a total value of $49,682.01. Following the completion of the purchase, the director now directly owns 659 shares of the company’s stock, valued at $49,682.01. The disclosure for this purchase can be found here. 0.61% of the stock is owned by company insiders.

About American International Group

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.