Donald Smith & CO. Inc. Sells 6,170 Shares of American International Group, Inc. (NYSE:AIG)

Donald Smith & CO. Inc. reduced its holdings in American International Group, Inc. (NYSE:AIG) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,227,583 shares of the insurance provider’s stock after selling 6,170 shares during the period. American International Group makes up about 2.1% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 20th largest position. Donald Smith & CO. Inc.’s holdings in American International Group were worth $83,169,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Invesco Ltd. increased its position in American International Group by 3.0% during the third quarter. Invesco Ltd. now owns 17,085,545 shares of the insurance provider’s stock worth $1,035,384,000 after acquiring an additional 503,547 shares during the period. FMR LLC increased its holdings in shares of American International Group by 5.0% during the 3rd quarter. FMR LLC now owns 12,745,085 shares of the insurance provider’s stock worth $772,352,000 after purchasing an additional 604,901 shares during the period. Bank of New York Mellon Corp raised its position in shares of American International Group by 3.8% during the third quarter. Bank of New York Mellon Corp now owns 11,131,560 shares of the insurance provider’s stock valued at $674,573,000 after buying an additional 408,335 shares during the last quarter. Northern Trust Corp lifted its stake in shares of American International Group by 1.8% in the third quarter. Northern Trust Corp now owns 7,711,308 shares of the insurance provider’s stock valued at $467,305,000 after buying an additional 133,828 shares during the period. Finally, LSV Asset Management grew its position in American International Group by 13.2% during the third quarter. LSV Asset Management now owns 5,496,879 shares of the insurance provider’s stock worth $333,111,000 after buying an additional 639,079 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Price Performance

Shares of AIG stock traded up $1.21 during trading hours on Monday, hitting $75.74. 3,872,363 shares of the company’s stock were exchanged, compared to its average volume of 3,938,726. The stock’s 50-day moving average is $74.70 and its 200-day moving average is $69.05. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.31 and a quick ratio of 0.31. American International Group, Inc. has a 52 week low of $48.95 and a 52 week high of $78.95. The stock has a market cap of $51.58 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 1.07 and a beta of 1.03.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, February 14th. The insurance provider reported $1.79 EPS for the quarter, beating the consensus estimate of $1.59 by $0.20. The business had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.61 billion. American International Group had a net margin of 7.78% and a return on equity of 10.68%. American International Group’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.36 earnings per share. As a group, research analysts forecast that American International Group, Inc. will post 6.95 EPS for the current year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.90%. American International Group’s dividend payout ratio is presently 28.86%.

Analysts Set New Price Targets

A number of brokerages have commented on AIG. TD Cowen began coverage on American International Group in a research report on Wednesday, January 10th. They issued a “market perform” rating and a $78.00 price objective for the company. UBS Group lifted their price target on shares of American International Group from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Royal Bank of Canada increased their price objective on shares of American International Group from $76.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Piper Sandler lifted their target price on shares of American International Group from $87.00 to $89.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Finally, BMO Capital Markets dropped their price target on shares of American International Group from $83.00 to $81.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $80.38.

Insider Buying and Selling at American International Group

In related news, 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 approximately $38,346,215.40. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director John C. Inglis purchased 659 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $75.39 per share, with a total value of $49,682.01. Following the completion of the purchase, the director now owns 659 shares in the company, valued at approximately $49,682.01. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Peter Zaffino sold 333,000 shares of the firm’s 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 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. Insiders own 0.61% of the company’s stock.

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.