Rockland Trust Co. Purchases 1,688 Shares of American International Group, Inc. (NYSE:AIG)

Rockland Trust Co. grew its position in American International Group, Inc. (NYSE:AIGFree Report) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,501 shares of the insurance provider’s stock after acquiring an additional 1,688 shares during the period. Rockland Trust Co.’s holdings in American International Group were worth $8,247,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Rise Advisors LLC bought a new stake in American International Group in the 1st quarter valued at $29,000. Neo Ivy Capital Management bought a new position in shares of American International Group in the fourth quarter valued at about $40,000. Scarborough Advisors LLC acquired a new stake in shares of American International Group during the 4th quarter worth about $40,000. Blue Trust Inc. boosted its holdings in shares of American International Group by 41.7% during 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 during the period. Finally, EdgeRock Capital LLC acquired a new position in American International Group in the 4th quarter valued at about $57,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at American International Group

In other American International Group news, major shareholder International Group American sold 30,000,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 294,203,636 shares of the company’s stock, valued at approximately $8,590,746,171.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.61% of the company’s stock.

American International Group Trading Up 0.0 %

NYSE AIG traded up $0.01 during trading hours on Friday, reaching $74.89. The company’s stock had a trading volume of 14,081,842 shares, compared to its average volume of 3,603,397. The firm has a fifty day simple moving average of $76.59 and a 200-day simple moving average of $72.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.29 and a quick ratio of 0.29. American International Group, Inc. has a 52 week low of $54.84 and a 52 week high of $80.83. The stock has a market cap of $49.70 billion, a P/E ratio of 11.18, a P/E/G ratio of 2.06 and a beta of 1.08.

American International Group (NYSE:AIGGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.11. The firm had revenue of $12.58 billion during the quarter, compared to the consensus estimate of $12.04 billion. American International Group had a net margin of 9.98% and a return on equity of 10.54%. During the same quarter last year, the firm earned $1.63 earnings per share. Equities analysts forecast that American International Group, Inc. will post 7.02 earnings per share for the current fiscal year.

American International Group declared that its Board of Directors has initiated a share 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 purchase up to 19.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This is an increase from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 2.14%. American International Group’s payout ratio is presently 23.88%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AIG. Keefe, Bruyette & Woods upped their price objective on American International Group from $82.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Evercore ISI raised their price target on shares of 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. Morgan Stanley lifted their price objective on shares of American International Group from $72.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. HSBC cut shares of American International Group from a “buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. boosted their price target on American International Group from $73.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, American International Group currently has a consensus rating of “Hold” and a consensus price target of $81.50.

Get Our Latest Analysis on American International Group

American International Group Company 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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