Balyasny Asset Management L.P. Has $82.77 Million Stock Position in American International Group, Inc. (NYSE:AIG)

Balyasny Asset Management L.P. raised its holdings in American International Group, Inc. (NYSE:AIGFree Report) by 95.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,221,724 shares of the insurance provider’s stock after buying an additional 597,661 shares during the quarter. Balyasny Asset Management L.P. owned 0.17% of American International Group worth $82,772,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. grew its holdings in shares of American International Group by 3.6% during the 3rd quarter. Avantax Advisory Services Inc. now owns 4,819 shares of the insurance provider’s stock worth $292,000 after purchasing an additional 167 shares in the last quarter. Atria Wealth Solutions Inc. grew its holdings in shares of American International Group by 15.7% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 20,590 shares of the insurance provider’s stock worth $1,248,000 after purchasing an additional 2,797 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of American International Group by 4.6% during the 3rd quarter. HighTower Advisors LLC now owns 106,912 shares of the insurance provider’s stock worth $6,473,000 after purchasing an additional 4,726 shares in the last quarter. Aptus Capital Advisors LLC acquired a new stake in shares of American International Group during the 3rd quarter worth approximately $328,000. Finally, Headlands Technologies LLC acquired a new stake in shares of American International Group during the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Stock Up 0.0 %

NYSE:AIG opened at $76.03 on Tuesday. American International Group, Inc. has a 1 year low of $54.84 and a 1 year high of $80.83. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.05. The stock has a market cap of $50.46 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 0.90 and a beta of 1.08. The stock has a 50-day moving average price of $76.96 and a two-hundred day moving average price of $72.44.

American International Group (NYSE:AIGGet Free Report) last posted its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.11. American International Group had a return on equity of 10.54% and a net margin of 9.98%. The firm had revenue of $12.58 billion during the quarter, compared to analysts’ expectations of $12.04 billion. During the same period in the previous year, the firm earned $1.63 earnings per share. As a group, equities analysts expect that American International Group, Inc. will post 7.09 earnings per share for the current year.

American International Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.10%. This is a boost from American International Group’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, June 14th. American International Group’s payout ratio is presently 21.49%.

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

Analyst Ratings Changes

AIG has been the subject of several analyst reports. Evercore ISI raised their target price on American International Group from $80.00 to $81.00 and gave the stock an “in-line” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. raised their target price on American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. BMO Capital Markets raised 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. UBS Group raised their target price on American International Group from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Finally, Keefe, Bruyette & Woods raised their target price 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. Nine investment 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, American International Group has an average rating of “Hold” and a consensus target price of $81.06.

Get Our Latest Report on American International Group

Insider Buying and Selling at American International Group

In other American International Group news, CEO Peter Zaffino sold 333,000 shares of the business’s 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 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 can be accessed through this hyperlink. In related news, major shareholder International Group American sold 30,000,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $29.20, for a total transaction of $876,000,000.00. Following the sale, the insider now owns 294,203,636 shares in the company, valued at $8,590,746,171.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Peter Zaffino sold 333,000 shares of the company’s 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 sale, the chief executive officer now owns 505,420 shares in the company, valued at approximately $38,346,215.40. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

American International Group Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for American International Group (NYSE:AIG)

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