American International Group, Inc. (NYSE:AIG) Shares Purchased by Townsend & Associates Inc

Townsend & Associates Inc grew its position in American International Group, Inc. (NYSE:AIG) by 63.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 442,852 shares of the insurance provider’s stock after purchasing an additional 171,950 shares during the quarter. American International Group comprises approximately 3.8% of Townsend & Associates Inc’s investment portfolio, making the stock its 7th biggest position. Townsend & Associates Inc owned about 0.06% of American International Group worth $30,628,000 at the end of the most recent reporting period.

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 during the 3rd quarter worth approximately $26,000. Headlands Technologies LLC bought a new position in American International Group during the 3rd quarter worth $32,000. CNB Bank acquired a new position in American International Group in the 3rd quarter valued at $42,000. SouthState Corp lifted its position in shares of American International Group by 41.7% during the 3rd quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock valued at $45,000 after acquiring an additional 217 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of American International Group by 41.7% during 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 in the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Trading Up 0.3 %

AIG traded up $0.21 during midday trading on Thursday, hitting $80.10. 984,794 shares of the company were exchanged, compared to its average volume of 3,960,604. The firm’s 50 day moving average price is $75.73 and its 200-day moving average price is $69.84. American International Group, Inc. has a 1-year low of $51.86 and a 1-year high of $80.76. The firm has a market capitalization of $53.16 billion, a P/E ratio of 11.92, a P/E/G ratio of 1.11 and a beta of 1.02. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05.

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

American International Group announced that its Board of Directors has approved a share buyback 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 typically a sign that the company’s board 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. Stockholders of record on Friday, June 14th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, June 14th. This is a boost from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 2.00%. American International Group’s dividend payout ratio is 21.49%.

Insider Buying and Selling

In other news, Director John C. Inglis purchased 659 shares of the business’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 completion of the transaction, the director now owns 659 shares of the company’s stock, valued at approximately $49,682.01. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Peter Zaffino sold 333,000 shares of the business’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 transaction, the chief executive officer now owns 505,420 shares in the company, valued at approximately $38,346,215.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John C. Inglis purchased 659 shares of American International Group stock in a transaction 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 acquisition, the director now directly 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.

Analysts Set New Price Targets

AIG has been the topic of a number of analyst reports. BMO Capital Markets reduced their price objective on shares of American International Group from $83.00 to $81.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Evercore ISI boosted their price objective on shares of 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. TD Cowen assumed coverage on American International Group in a research note on Wednesday, January 10th. They set a “market perform” rating and a $78.00 target price for the company. 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 report on Friday, April 19th. Finally, Royal Bank of Canada raised their price objective on American International Group from $76.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $80.44.

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.