SouthState Corp Has $28,000 Stock Position in American International Group, Inc. (NYSE:AIG)

SouthState Corp trimmed its holdings in shares of American International Group, Inc. (NYSE:AIG) by 43.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 420 shares of the insurance provider’s stock after selling 317 shares during the period. SouthState Corp’s holdings in American International Group were worth $28,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. OFI Invest Asset Management acquired a new position in American International Group in the 3rd quarter worth about $26,000. Headlands Technologies LLC acquired a new position in American International Group in the 3rd quarter worth about $32,000. CNB Bank acquired a new position in American International Group in the 3rd quarter worth about $42,000. Blue Trust Inc. increased its position in American International Group by 41.7% in the 4th quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock worth $53,000 after purchasing an additional 232 shares during the last quarter. Finally, Highlander Capital Management LLC increased its position in American International Group by 144.9% in the 4th quarter. Highlander Capital Management LLC now owns 845 shares of the insurance provider’s stock worth $57,000 after purchasing an additional 500 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AIG has been the topic of several research reports. Piper Sandler upped their target price 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. Evercore ISI increased their price objective on American International Group from $80.00 to $81.00 and gave the company an “in-line” rating in a report on Friday. JPMorgan Chase & Co. upped their target price 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. BMO Capital Markets dropped their price target on shares of American International Group from $83.00 to $81.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. Finally, Morgan Stanley upped 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 report on Monday, April 15th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $80.44.

Insider Activity

In other American International Group news, CEO Peter Zaffino sold 333,000 shares of the company’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 transaction, the chief executive officer now owns 505,420 shares of the company’s stock, valued at approximately $38,346,215.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction dated 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 can be accessed through the SEC website. Also, Director John C. Inglis bought 659 shares of the company’s stock in a transaction 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 transaction, 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 insiders.

American International Group Stock Performance

NYSE AIG opened at $78.48 on Friday. The stock has a market cap of $53.44 billion, a P/E ratio of 11.71, a PEG ratio of 1.13 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 twelve month low of $48.95 and a twelve month high of $79.70. The company’s 50-day simple moving average is $75.39 and its 200 day simple moving average is $69.47.

American International Group (NYSE:AIG) last posted its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share 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 10.68%. The business had revenue of $12.58 billion for the quarter, compared to analyst estimates of $12.04 billion. During the same quarter in the prior year, the firm earned $1.63 EPS. As a group, research analysts forecast that American International Group, Inc. will post 7.05 earnings per share for the current fiscal year.

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. This is a positive change 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%.

American International Group declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 1st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the insurance provider to buy up to 19.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

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.