820 Shares in American International Group, Inc. (NYSE:AIG) Bought by EdgeRock Capital LLC

EdgeRock Capital LLC purchased a new position in shares of American International Group, Inc. (NYSE:AIG) during the 4th quarter, Holdings Channel.com reports. The firm purchased 820 shares of the insurance provider’s stock, valued at approximately $57,000.

Other institutional investors have also added to or reduced their stakes in the company. Everpar Advisors LLC bought a new stake in shares of American International Group during the 4th quarter worth $647,000. Centric Wealth Management boosted its position in American International Group by 7.2% in the fourth quarter. Centric Wealth Management now owns 29,620 shares of the insurance provider’s stock valued at $2,042,000 after buying an additional 1,990 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of American International Group by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,395,566 shares of the insurance provider’s stock worth $297,800,000 after buying an additional 32,065 shares in the last quarter. Apollon Wealth Management LLC boosted its stake in shares of American International Group by 66.9% during the fourth quarter. Apollon Wealth Management LLC now owns 20,551 shares of the insurance provider’s stock valued at $1,392,000 after purchasing an additional 8,235 shares in the last quarter. Finally, Lincoln National Corp bought a new stake in American International Group during the 4th quarter worth approximately $333,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director John C. Inglis bought 659 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $75.39 per share, with a total value of $49,682.01. Following the acquisition, the director now owns 659 shares of the company’s stock, valued at approximately $49,682.01. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Peter Zaffino sold 333,000 shares of the 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 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 Securities & Exchange Commission, which is available through this link. Also, Director John C. Inglis acquired 659 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were bought at an average cost of $75.39 per share, with a total value of $49,682.01. Following the completion of the acquisition, the director now directly owns 659 shares in the company, valued at approximately $49,682.01. The disclosure for this purchase can be found here. 0.61% of the stock is owned by company insiders.

American International Group Stock Performance

Shares of American International Group stock traded down $0.39 on Wednesday, reaching $79.89. 3,122,839 shares of the company traded hands, compared to its average volume of 3,995,037. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $53.02 billion, a PE ratio of 11.92, a PEG ratio of 1.11 and a beta of 1.02. The company has a 50 day moving average of $75.73 and a 200 day moving average of $69.84. American International Group, Inc. has a 52 week low of $51.86 and a 52 week high of $80.76.

American International Group (NYSE:AIG) last released its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, topping the consensus estimate of $1.66 by $0.11. American International Group had a net margin of 9.98% and a return on equity of 10.54%. The company had revenue of $12.58 billion during the quarter, compared to the consensus estimate of $12.04 billion. During the same period last year, the firm earned $1.63 EPS. Equities analysts forecast that American International Group, Inc. will post 7.05 earnings per share for the current year.

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

American International Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.00%. This is an increase from American International Group’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, June 14th. American International Group’s dividend payout ratio is presently 21.49%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wells Fargo & Company upped their price target on American International Group from $74.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Morgan Stanley upped 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. Piper Sandler lifted their price objective 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. BMO Capital Markets decreased their target price on American International Group from $83.00 to $81.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Finally, TD Cowen started coverage on American International Group in a research note on Wednesday, January 10th. They issued a “market perform” rating and a $78.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, American International Group has a consensus rating of “Moderate Buy” and an average price target of $80.44.

American International Group Company 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.