GAMMA Investing LLC Makes New $411,000 Investment in American International Group, Inc. (NYSE:AIG)

GAMMA Investing LLC purchased a new stake in shares of American International Group, Inc. (NYSE:AIG) in the 4th quarter, Holdings Channel.com reports. The fund purchased 5,912 shares of the insurance provider’s stock, valued at approximately $411,000.

A number of other hedge funds also recently modified their holdings of the business. Nordea Investment Management AB increased its position in American International Group by 18.7% during the 4th quarter. Nordea Investment Management AB now owns 2,032,907 shares of the insurance provider’s stock valued at $138,014,000 after purchasing an additional 319,948 shares during the period. American Century Companies Inc. boosted its stake in shares of 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 valued at $25,625,000 after purchasing an additional 77,874 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of American International Group by 121.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 38,809 shares of the insurance provider’s stock worth $2,629,000 after buying an additional 21,279 shares during the period. abrdn plc raised its stake in American International Group by 19.6% during the fourth quarter. abrdn plc now owns 598,143 shares of the insurance provider’s stock worth $40,524,000 after buying an additional 98,143 shares during the last quarter. Finally, Tritonpoint Wealth LLC bought a new position in American International Group during the fourth quarter worth $1,072,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on AIG. JPMorgan Chase & Co. increased their price target on American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Wells Fargo & Company raised their target price on American International Group from $74.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 11th. Evercore ISI boosted their price target on American International Group from $74.00 to $80.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. HSBC initiated coverage on shares of American International Group in a research report on Thursday, December 28th. They set a “buy” rating and a $86.00 price objective for the company. Finally, TD Cowen assumed coverage on shares of American International Group in a research report on Wednesday, January 10th. They set a “market perform” rating and a $78.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.38.

Insider Transactions at American International Group

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

American International Group Stock Up 0.2 %

Shares of AIG traded up $0.16 on Wednesday, reaching $75.09. The company’s stock had a trading volume of 1,340,032 shares, compared to its average volume of 3,919,855. American International Group, Inc. has a twelve month low of $48.95 and a twelve month high of $78.95. The stock has a market capitalization of $51.13 billion, a PE ratio of 15.02, a PEG ratio of 1.08 and a beta of 1.03. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average of $74.41 and a 200-day moving average of $68.76.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, February 14th. The insurance provider reported $1.79 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the prior year, the business posted $1.36 earnings per share. The company’s quarterly revenue was up .0% compared to the same quarter last year. Equities analysts predict that American International Group, Inc. will post 6.95 EPS for the current year.

American International Group Announces Dividend

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

About American International Group

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.