OVERSEA CHINESE BANKING Corp Ltd Grows Stock Holdings in American International Group, Inc. (NYSE:AIG)

OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of American International Group, Inc. (NYSE:AIG) by 28.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,010 shares of the insurance provider’s stock after acquiring an additional 3,358 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in American International Group were worth $1,017,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Nordea Investment Management AB raised its holdings in American International Group by 18.7% in the 4th quarter. Nordea Investment Management AB now owns 2,032,907 shares of the insurance provider’s stock worth $138,014,000 after purchasing an additional 319,948 shares in the last quarter. American Century Companies Inc. raised its position in shares of American International Group by 22.6% in the 3rd quarter. American Century Companies Inc. now owns 422,852 shares of the insurance provider’s stock worth $25,625,000 after acquiring an additional 77,874 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of American International Group by 121.4% in the 4th quarter. Sequoia Financial Advisors LLC now owns 38,809 shares of the insurance provider’s stock valued at $2,629,000 after purchasing an additional 21,279 shares during the period. Tritonpoint Wealth LLC purchased a new stake in American International Group in the fourth quarter worth $1,072,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in American International Group by 12.9% during the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 581,239 shares of the insurance provider’s stock valued at $39,379,000 after buying an additional 66,603 shares during the period. 90.60% of the stock is owned by institutional investors.

American International Group Trading Up 1.7 %

NYSE:AIG opened at $74.23 on Monday. American International Group, Inc. has a one year low of $48.95 and a one year high of $78.95. The business has a fifty day moving average price of $74.21 and a 200-day moving average price of $68.56. The firm has a market capitalization of $50.55 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 1.06 and a beta of 1.03. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.31 and a quick ratio of 0.31.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, February 14th. The insurance provider reported $1.79 EPS for the quarter, topping analysts’ consensus estimates 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 business’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.36 earnings per share. Sell-side analysts forecast that American International Group, Inc. will post 6.95 EPS for the current year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.94%. American International Group’s payout ratio is 28.86%.

Insider Activity at American International Group

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. TD Cowen began coverage on shares of American International Group in a research note on Wednesday, January 10th. They issued a “market perform” rating and a $78.00 price target for the company. JPMorgan Chase & Co. raised their target price on shares of American International Group from $73.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Keefe, Bruyette & Woods boosted their price target on American International Group from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Piper Sandler lifted their price objective on American International Group from $87.00 to $89.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Wells Fargo & Company increased their target price on American International Group from $74.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 11th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, American International Group presently has an average rating of “Moderate Buy” and a consensus price target of $80.38.

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.