Levin Capital Strategies L.P. Sells 11,500 Shares of American International Group, Inc. (NYSE:AIG)

Levin Capital Strategies L.P. lowered its stake in shares of American International Group, Inc. (NYSE:AIG) by 9.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,315 shares of the insurance provider’s stock after selling 11,500 shares during the period. Levin Capital Strategies L.P.’s holdings in American International Group were worth $7,542,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its holdings in shares of American International Group by 3.0% during the 3rd quarter. Invesco Ltd. now owns 17,085,545 shares of the insurance provider’s stock valued at $1,035,384,000 after purchasing an additional 503,547 shares in the last quarter. FMR LLC lifted 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 valued at $772,352,000 after purchasing an additional 604,901 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of American International Group by 3.8% during the 3rd 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 purchasing an additional 408,335 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of American International Group by 1.8% during the 3rd quarter. Northern Trust Corp now owns 7,711,308 shares of the insurance provider’s stock valued at $467,305,000 after purchasing an additional 133,828 shares in the last quarter. Finally, LSV Asset Management lifted its holdings in shares of American International Group by 13.2% during the 3rd quarter. LSV Asset Management now owns 5,496,879 shares of the insurance provider’s stock valued at $333,111,000 after purchasing an additional 639,079 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

Insider Transactions at American International Group

In other American International Group news, CEO Peter Zaffino sold 333,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 505,420 shares of the company’s stock, valued at approximately $38,346,215.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction dated 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 owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John C. Inglis purchased 659 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $75.39 per share, with a total value of $49,682.01. Following 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. 0.61% of the stock is owned by insiders.

American International Group Price Performance

Shares of NYSE:AIG traded up $2.51 during trading on Thursday, reaching $78.32. 4,333,420 shares of the company traded hands, compared to its average volume of 3,941,067. The company’s 50 day moving average is $75.10 and its two-hundred day moving average is $69.30. The firm has a market capitalization of $53.33 billion, a PE ratio of 15.63, a PEG ratio of 1.08 and a beta of 1.02. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.44. American International Group, Inc. has a 52 week low of $48.95 and a 52 week high of $79.70.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.11. American International Group had a return on equity of 10.68% and a net margin of 7.78%. The company had revenue of $12.58 billion during the quarter, compared to analysts’ expectations of $12.04 billion. During the same quarter in the previous year, the firm earned $1.63 EPS. As a group, sell-side analysts predict that American International Group, Inc. will post 6.95 earnings per share for the current year.

American International Group declared that its Board of Directors has initiated a stock repurchase program on Wednesday, May 1st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to buy up to 19.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.84%. American International Group’s dividend payout ratio (DPR) is currently 28.86%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their target price on American International Group from $82.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Bank of America lowered American International Group from a “buy” rating to a “neutral” rating and lifted their target price for the company from $75.00 to $77.00 in a research report on Tuesday, February 20th. JPMorgan Chase & Co. boosted their price target on American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Piper Sandler boosted their price target on American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Finally, Royal Bank of Canada boosted their target price on American International Group from $76.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.38.

American International Group Profile

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.