Foster & Motley Inc. Acquires 7,074 Shares of American International Group, Inc. (NYSE:AIG)

Foster & Motley Inc. grew its holdings in shares of American International Group, Inc. (NYSE:AIG) by 57.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 19,326 shares of the insurance provider’s stock after acquiring an additional 7,074 shares during the period. Foster & Motley Inc.’s holdings in American International Group were worth $1,309,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Meeder Advisory Services Inc. increased its holdings in American International Group by 1.3% during the 3rd quarter. Meeder Advisory Services Inc. now owns 12,808 shares of the insurance provider’s stock worth $776,000 after purchasing an additional 162 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in 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 valued at $292,000 after acquiring an additional 167 shares in the last quarter. Steph & Co. boosted its holdings in American International Group by 3.3% during the 3rd quarter. Steph & Co. now owns 5,448 shares of the insurance provider’s stock worth $330,000 after acquiring an additional 176 shares during the last quarter. Lindbrook Capital LLC grew its stake in shares of American International Group by 2.7% in the 4th quarter. Lindbrook Capital LLC now owns 6,764 shares of the insurance provider’s stock worth $458,000 after acquiring an additional 176 shares in the last quarter. Finally, Aspiriant LLC raised its holdings in shares of American International Group by 3.4% in the fourth quarter. Aspiriant LLC now owns 5,417 shares of the insurance provider’s stock valued at $367,000 after purchasing an additional 178 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Insider Activity at American International Group

In other American International Group news, 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 transaction, the chief executive officer now directly owns 505,420 shares in the company, valued at approximately $38,346,215.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director John C. Inglis bought 659 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was acquired at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the transaction, the director now directly owns 659 shares in the company, valued at approximately $49,682.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the completion of the transaction, the chief executive officer now directly owns 505,420 shares in the company, valued at approximately $38,346,215.40. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of American International Group from $72.00 to $79.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods upped their target price on American International Group from $82.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Wells Fargo & Company lifted their price target on American International Group from $74.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, April 11th. Bank of America downgraded American International Group from a “buy” rating to a “neutral” rating and upped their price objective for the company from $75.00 to $77.00 in a research note on Tuesday, February 20th. Finally, TD Cowen began coverage on American International Group in a research note on Wednesday, January 10th. They set a “market perform” rating and a $78.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $80.38.

American International Group Price Performance

Shares of NYSE AIG opened at $74.93 on Wednesday. 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 fifty-two week low of $48.95 and a fifty-two week high of $78.95. The stock has a market cap of $51.02 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 1.07 and a beta of 1.03. The stock has a fifty day moving average of $74.41 and a 200-day moving average of $68.76.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the prior year, the business posted $1.36 earnings per share. The company’s revenue was up .0% on a year-over-year basis. Equities research analysts anticipate that American International Group, Inc. will post 6.95 earnings per share for the current year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.36 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.92%. American International Group’s payout ratio is currently 28.86%.

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.