First Trust Advisors LP Has $25.33 Million Stock Position in American International Group, Inc. (NYSE:AIG)

First Trust Advisors LP lessened its position in American International Group, Inc. (NYSE:AIGFree Report) by 29.5% in the fourth quarter, HoldingsChannel reports. The fund owned 373,930 shares of the insurance provider’s stock after selling 156,523 shares during the quarter. First Trust Advisors LP’s holdings in American International Group were worth $25,334,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Headlands Technologies LLC bought a new position in shares of American International Group in the 3rd quarter worth $32,000. Blue Trust Inc. raised its holdings in 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 buying an additional 232 shares during the last quarter. EdgeRock Capital LLC bought a new position in shares of American International Group in the fourth quarter valued at $57,000. Highlander Capital Management LLC grew its holdings in shares of American International Group by 144.9% during the fourth quarter. Highlander Capital Management LLC now owns 845 shares of the insurance provider’s stock valued at $57,000 after buying an additional 500 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC increased its position in shares of American International Group by 125.8% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 962 shares of the insurance provider’s stock worth $65,000 after acquiring an additional 536 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

Shares of AIG stock opened at $76.03 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $50.46 billion, a price-to-earnings ratio of 11.35, a P/E/G ratio of 0.90 and a beta of 1.08. American International Group, Inc. has a 52 week low of $54.84 and a 52 week high of $80.83. The firm’s 50-day simple moving average is $76.96 and its two-hundred day simple moving average is $72.44.

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

American International Group announced that its Board of Directors has initiated a share repurchase program on Wednesday, May 1st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 19.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

American International Group Increases Dividend

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

Insider Transactions at American International Group

In other American International Group news, major shareholder International Group American sold 30,000,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $29.20, for a total transaction of $876,000,000.00. Following the sale, the insider now directly owns 294,203,636 shares of the company’s stock, valued at $8,590,746,171.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other American International Group news, major shareholder International Group American sold 30,000,000 shares of the stock in a transaction on 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 document filed with the SEC, which is available at this hyperlink. Also, Director John C. Inglis purchased 659 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $75.39 per share, with a total value of $49,682.01. Following the completion of the acquisition, the director now directly owns 659 shares of the company’s stock, valued at $49,682.01. The disclosure for this purchase can be found here. 0.61% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AIG. Evercore ISI raised their price target on shares of American International Group from $80.00 to $81.00 and gave the company an “in-line” rating in a research report on Friday, May 3rd. Piper Sandler raised their target price on American International Group from $87.00 to $89.00 and gave the company an “overweight” rating in a report on Friday, April 19th. HSBC downgraded American International Group from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a report on Wednesday, May 15th. Royal Bank of Canada raised their price objective on American International Group from $76.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Finally, Wells Fargo & Company lifted their price objective on shares of American International Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, May 10th. Nine 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 currently has a consensus rating of “Hold” and a consensus price target of $81.06.

Read Our Latest Stock Analysis on American International Group

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

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

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