American International Group, Inc. (NYSE:AIG) Shares Purchased by National Bank of Canada FI

National Bank of Canada FI raised its holdings in American International Group, Inc. (NYSE:AIG) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 235,741 shares of the insurance provider’s stock after buying an additional 384 shares during the quarter. National Bank of Canada FI’s holdings in American International Group were worth $16,228,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. OFI Invest Asset Management purchased a new stake in American International Group during the 3rd quarter worth approximately $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 purchased a new position in American International Group in the 3rd quarter worth $42,000. SouthState Corp lifted its position in American International Group by 41.7% during the 3rd quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock worth $45,000 after acquiring an additional 217 shares during the period. Finally, Blue Trust Inc. grew its stake in American International Group by 41.7% during the 4th quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Stock Up 0.4 %

Shares of NYSE AIG opened at $80.28 on Wednesday. American International Group, Inc. has a 52-week low of $51.86 and a 52-week high of $80.76. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05. The company’s 50-day simple moving average is $75.73 and its 200-day simple moving average is $69.84. The firm has a market cap of $53.28 billion, a price-to-earnings ratio of 11.98, a price-to-earnings-growth ratio of 1.11 and a beta of 1.02.

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

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

American International Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.40 dividend. This is an increase from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 1.99%. The ex-dividend date is Friday, June 14th. American International Group’s dividend payout ratio is currently 21.49%.

Insider Buying and Selling at American International Group

In other 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 transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director John C. Inglis acquired 659 shares of American International Group stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average price 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 approximately $49,682.01. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Peter Zaffino sold 333,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 505,420 shares in the company, valued at approximately $38,346,215.40. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AIG. Evercore ISI upped their target price on American International Group from $80.00 to $81.00 and gave the company an “in-line” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. boosted their target price on shares of American International Group from $73.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. UBS Group increased their price target on American International Group from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Keefe, Bruyette & Woods boosted their price objective on American International Group from $82.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Finally, TD Cowen started coverage on American International Group in a report on Wednesday, January 10th. They set a “market perform” rating and a $78.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, American International Group presently has a consensus rating of “Moderate Buy” and an average target price of $80.44.

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.