US Bancorp DE Reduces Holdings in American International Group, Inc. (NYSE:AIG)

US Bancorp DE trimmed its holdings in shares of American International Group, Inc. (NYSE:AIG) by 9.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,826 shares of the insurance provider’s stock after selling 21,557 shares during the period. US Bancorp DE’s holdings in American International Group were worth $13,877,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AIG. Nordea Investment Management AB grew its stake 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 acquiring an additional 319,948 shares during the period. American Century Companies Inc. grew its stake in 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 during the period. Essex Financial Services Inc. purchased a new stake in American International Group in the 4th quarter worth approximately $260,000. Sequoia Financial Advisors LLC grew its stake in 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 worth $2,629,000 after acquiring an additional 21,279 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in American International Group in the 4th quarter worth approximately $948,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Stock Up 0.6 %

Shares of American International Group stock opened at $78.03 on Monday. The business has a 50-day moving average of $76.94 and a 200-day moving average of $71.43. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market capitalization of $51.79 billion, a PE ratio of 11.65, a P/E/G ratio of 0.93 and a beta of 1.02. American International Group, Inc. has a 1-year low of $52.78 and a 1-year high of $80.83.

American International Group (NYSE:AIG) last announced 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 the consensus estimate of $12.04 billion. American International Group had a return on equity of 10.54% and a net margin of 9.98%. During the same period last year, the firm earned $1.63 earnings per share. As a group, equities analysts forecast that American International Group, Inc. will post 7.08 EPS for the current fiscal year.

American International Group declared that its Board of Directors has approved a stock repurchase program on Wednesday, May 1st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 19.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

American International Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, June 14th. This is an increase from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 2.05%. American International Group’s dividend payout ratio (DPR) is currently 21.49%.

Insider Activity

In other American International Group news, Director John C. Inglis bought 659 shares of the stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $75.39 per share, for a total transaction 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John C. Inglis purchased 659 shares of American International Group stock in a transaction dated Thursday, March 14th. The shares were bought at an average cost 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. Insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AIG shares. Royal Bank of Canada increased their target price on American International Group from $76.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Piper Sandler increased their target price on American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Bank of America lowered American International Group from a “buy” rating to a “neutral” rating and increased their target price for the stock from $75.00 to $77.00 in a research report on Tuesday, February 20th. BMO Capital Markets increased their target price on American International Group from $88.00 to $89.00 and gave the stock an “outperform” rating in a research report on Monday, May 13th. Finally, Wells Fargo & Company increased their target price on American International Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, American International Group has a consensus rating of “Hold” and a consensus price target of $81.06.

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.