Steele Capital Management Inc. Takes $573,000 Position in American International Group, Inc. (NYSE:AIG)

Steele Capital Management Inc. purchased a new stake in American International Group, Inc. (NYSE:AIG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,458 shares of the insurance provider’s stock, valued at approximately $573,000.

Other large investors also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new position in shares of American International Group in the 3rd quarter valued at $26,000. Headlands Technologies LLC acquired a new position in shares of American International Group in the 3rd quarter valued at $32,000. CNB Bank acquired a new position in shares of American International Group in the 3rd quarter valued at $42,000. SouthState Corp lifted its stake in shares of American International Group by 41.7% in the 3rd quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 217 shares during the period. Finally, Blue Trust Inc. increased 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 valued at $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 Stock Performance

NYSE:AIG traded up $1.21 during mid-day trading on Monday, hitting $75.74. The stock had a trading volume of 3,582,118 shares, compared to its average volume of 3,938,726. 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 cap of $51.58 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 1.07 and a beta of 1.03. The company’s 50 day simple moving average is $74.70 and its 200 day simple moving average is $69.05. 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 (NYSE:AIG) last issued its earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.20. American International Group had a net margin of 7.78% and a return on equity of 10.68%. The business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.61 billion. During the same period last year, the business posted $1.36 EPS. American International Group’s revenue was up .0% on a year-over-year basis. On average, equities research analysts forecast that American International Group, Inc. will post 6.95 earnings per share for the current year.

American International Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Citigroup upped 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 report on Tuesday, April 16th. Keefe, Bruyette & Woods increased their target price on American International Group from $82.00 to $86.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Evercore ISI increased their target price on American International Group from $74.00 to $80.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. UBS Group increased their target price on American International Group from $83.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Finally, Piper Sandler increased their target price on American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.38.

Insiders Place Their Bets

In other American International Group news, Director John C. Inglis purchased 659 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was bought 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 owns 659 shares in the company, valued at $49,682.01. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related 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 value of $25,264,710.00. Following the completion of the sale, the chief executive officer now directly owns 505,420 shares in the company, valued at $38,346,215.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John C. Inglis purchased 659 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was bought 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 of the company’s stock, valued at approximately $49,682.01. The disclosure for this purchase can be found here. Company 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.