SSI Investment Management LLC Takes $214,000 Position in American International Group, Inc. (NYSE:AIG)

SSI Investment Management LLC purchased a new position in shares of American International Group, Inc. (NYSE:AIGFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,161 shares of the insurance provider’s stock, valued at approximately $214,000.

Other large investors have also recently bought and sold shares of the company. OFI Invest Asset Management purchased a new stake in American International Group during the third quarter worth about $26,000. Headlands Technologies LLC acquired a new position in American International Group during the third quarter worth $32,000. CNB Bank purchased a new stake in American International Group during the third quarter worth $42,000. SouthState Corp increased its position in shares of American International Group by 41.7% in the third quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock valued at $45,000 after buying an additional 217 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of American International Group by 41.7% in the 4th quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock worth $53,000 after buying an additional 232 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Trading Up 2.3 %

AIG traded up $1.80 during trading on Friday, reaching $80.54. The company had a trading volume of 6,778,781 shares, compared to its average volume of 3,959,874. The firm’s 50-day simple moving average is $76.67 and its 200 day simple moving average is $70.85. The company has a market cap of $53.45 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 1.14 and a beta of 1.02. American International Group, Inc. has a 12-month low of $52.78 and a 12-month high of $80.83. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.29 and a current ratio of 0.29.

American International Group (NYSE:AIGGet Free Report) last released 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 for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business posted $1.63 EPS. Equities research analysts anticipate that American International Group, Inc. will post 7.08 earnings per share for the current year.

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

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.40 dividend. This is a positive change from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 1.99%. The ex-dividend date is Friday, June 14th. American International Group’s payout ratio is 21.49%.

Insider Buying and Selling

In other news, CEO Peter Zaffino sold 333,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 505,420 shares in the company, valued at $38,346,215.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director John C. Inglis purchased 659 shares of the stock in a transaction on Thursday, March 14th. The shares were purchased 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 of the company’s stock, valued at approximately $49,682.01. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Peter Zaffino sold 333,000 shares of the company’s stock in a transaction on 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 $38,346,215.40. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Citigroup boosted their price objective on shares of American International Group from $79.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods lifted their price objective on American International Group from $82.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Bank of America downgraded shares of 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. Morgan Stanley lifted their price target on shares of American International Group from $72.00 to $79.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Finally, Wells Fargo & Company raised their target price on shares of American International Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, May 10th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, American International Group has an average rating of “Hold” and an average target price of $81.06.

View Our Latest Research Report 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.

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

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