Kestra Private Wealth Services LLC Increases Stake in American International Group, Inc. (NYSE:AIG)

Kestra Private Wealth Services LLC grew its stake in shares of American International Group, Inc. (NYSE:AIG) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,810 shares of the insurance provider’s stock after purchasing an additional 428 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in American International Group were worth $1,274,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in AIG. Pinnacle Associates Ltd. boosted its holdings in American International Group by 5.2% in the third quarter. Pinnacle Associates Ltd. now owns 6,885 shares of the insurance provider’s stock valued at $417,000 after acquiring an additional 340 shares in the last quarter. NorthRock Partners LLC raised its holdings in American International Group by 11.6% in the 3rd quarter. NorthRock Partners LLC now owns 5,161 shares of the insurance provider’s stock worth $313,000 after acquiring an additional 535 shares during the last quarter. Mn Services Vermogensbeheer B.V. lifted its stake in American International Group by 1.1% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 353,400 shares of the insurance provider’s stock valued at $21,416,000 after acquiring an additional 3,900 shares during the period. Brown Advisory Inc. boosted its holdings in American International Group by 9.6% in the third quarter. Brown Advisory Inc. now owns 84,219 shares of the insurance provider’s stock worth $5,104,000 after purchasing an additional 7,409 shares during the last quarter. Finally, Forsta AP Fonden grew its holdings in shares of American International Group by 6.3% in the third quarter. Forsta AP Fonden now owns 259,800 shares of the insurance provider’s stock worth $15,744,000 after acquiring an additional 15,500 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at American International Group

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

Analysts Set New Price Targets

AIG has been the topic of a number of recent research reports. Morgan Stanley increased their target price on American International Group from $72.00 to $79.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Wells Fargo & Company raised their price objective on shares of American International Group from $74.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. increased their price target on shares of American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Royal Bank of Canada boosted their price objective on shares of American International Group from $76.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Finally, BMO Capital Markets decreased their target price on American International Group from $83.00 to $81.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.44.

American International Group Trading Up 0.5 %

Shares of AIG opened at $78.48 on Friday. The firm has a market cap of $53.44 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 1.09 and a beta of 1.02. 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, Inc. has a 1 year low of $48.95 and a 1 year high of $79.70. The company has a 50 day simple moving average of $75.24 and a two-hundred day simple moving average of $69.36.

American International Group (NYSE:AIG) last posted its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.11. The company had revenue of $12.58 billion during the quarter, compared to analysts’ expectations of $12.04 billion. American International Group had a net margin of 9.98% and a return on equity of 10.68%. During the same period last year, the company posted $1.63 earnings per share. On average, equities analysts expect that American International Group, Inc. will post 6.95 earnings per share for the current fiscal year.

American International Group declared that its Board of Directors has initiated a stock buyback plan on Wednesday, May 1st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the insurance provider to reacquire up to 19.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.40 per share. This is an increase from American International Group’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a yield of 2.04%. American International Group’s dividend payout ratio is presently 21.49%.

American International Group 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.