Kovack Advisors Inc. Acquires 507 Shares of American International Group, Inc. (NYSE:AIG)

Kovack Advisors Inc. increased its holdings in American International Group, Inc. (NYSE:AIG) by 13.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,319 shares of the insurance provider’s stock after purchasing an additional 507 shares during the quarter. Kovack Advisors Inc.’s holdings in American International Group were worth $293,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. OFI Invest Asset Management bought a new stake in shares of American International Group in the 3rd quarter valued at about $26,000. Headlands Technologies LLC purchased a new stake in shares of American International Group during the third quarter valued at approximately $32,000. CNB Bank purchased a new position in shares of American International Group in the third quarter worth $42,000. SouthState Corp boosted its position in American International Group by 41.7% during the 3rd quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock valued at $45,000 after buying an additional 217 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of American International Group by 41.7% during the fourth quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock worth $53,000 after purchasing an additional 232 shares during the period. 90.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on AIG shares. Evercore ISI lifted their price objective on American International Group from $74.00 to $80.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. BMO Capital Markets cut their target price on American International Group from $83.00 to $81.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Keefe, Bruyette & Woods upped their price target on shares of American International Group from $82.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Wells Fargo & Company upped their target price on shares of 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. Finally, Citigroup lifted their price objective on American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.38.

American International Group Trading Up 1.6 %

NYSE:AIG opened at $75.74 on Tuesday. The firm has a market cap of $51.58 billion, a P/E ratio of 15.18, a P/E/G ratio of 1.07 and a beta of 1.03. The firm has a 50-day simple moving average of $74.81 and a 200-day simple moving average of $69.15. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31. American International Group, Inc. has a one year low of $48.95 and a one year high of $78.95.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, February 14th. The insurance provider reported $1.79 EPS for the quarter, topping the consensus estimate of $1.59 by $0.20. American International Group had a return on equity of 10.68% and a net margin of 7.78%. The firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.61 billion. During the same period in the previous year, the company posted $1.36 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. Equities analysts anticipate that American International Group, Inc. will post 6.95 EPS for the current fiscal year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.36 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.90%. American International Group’s dividend payout ratio is currently 28.86%.

Insider Activity

In related news, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $38,346,215.40. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Peter Zaffino sold 333,000 shares of American International Group stock in a transaction dated 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 transaction, the chief executive officer now owns 505,420 shares in the company, valued at approximately $38,346,215.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John C. Inglis purchased 659 shares of the 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 transaction, the director now directly owns 659 shares of the company’s stock, valued at approximately $49,682.01. The disclosure for this purchase can be found here. Corporate insiders own 0.61% of the company’s stock.

American International Group Company Profile

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.