83,708 American International Group, Inc. $AIG Shares Bought by Howard Capital Management LLC

Howard Capital Management LLC boosted its holdings in American International Group, Inc. (NYSE:AIG) by 2,455.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,117 shares of the insurance provider’s stock after buying an additional 83,708 shares during the period. Howard Capital Management LLC’s holdings in American International Group were worth $6,483,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Wellington Management Group LLP grew its stake in American International Group by 6.9% during the second quarter. Wellington Management Group LLP now owns 30,331,704 shares of the insurance provider’s stock valued at $2,260,622,000 after acquiring an additional 1,961,270 shares in the last quarter. State Street Corp increased its holdings in American International Group by 0.8% during the 2nd quarter. State Street Corp now owns 25,115,416 shares of the insurance provider’s stock worth $1,871,852,000 after acquiring an additional 196,969 shares during the period. Bank of New York Mellon Corp lifted its stake in American International Group by 6.1% in the 1st quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider’s stock worth $619,862,000 after purchasing an additional 474,035 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in American International Group in the 2nd quarter worth approximately $464,539,000. Finally, Dimensional Fund Advisors LP boosted its holdings in American International Group by 5.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,142,278 shares of the insurance provider’s stock valued at $462,147,000 after purchasing an additional 303,201 shares during the period. 90.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Piper Sandler boosted their price target on shares of American International Group from $80.00 to $84.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Royal Bank Of Canada increased their price objective on American International Group from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research report on Monday, August 10th. JPMorgan Chase & Co. lifted their price objective on American International Group from $86.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Wells Fargo & Company reduced their target price on American International Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research report on Monday, October 12th. Finally, HSBC reduced their target price on American International Group from $94.00 to $88.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Eight equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $87.68.

Insiders Place Their Bets

In related news, insider Peter Zaffino sold 36,829 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $76.14, for a total transaction of $2,804,160.06. Following the completion of the sale, the insider directly owned 556,004 shares in the company, valued at $42,334,144.56. This represents a 6.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by corporate insiders.

American International Group Price Performance

NYSE AIG traded up $1.48 on Friday, reaching $80.60. 5,410,074 shares of the company’s stock traded hands, compared to its average volume of 4,878,225. The stock has a market cap of $42.14 billion, a PE ratio of 14.73, a P/E/G ratio of 0.83 and a beta of 0.52. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $87.29. The stock has a 50-day simple moving average of $76.09 and a 200 day simple moving average of $76.60. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Friday, August 7th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. The company had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.25 billion. American International Group had a net margin of 11.13% and a return on equity of 11.05%. During the same quarter in the prior year, the company earned $1.81 EPS. As a group, research analysts predict that American International Group, Inc. will post 8.07 earnings per share for the current year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Wednesday, September 16th. American International Group’s payout ratio is 36.56%.

About American International Group

American International Group, Inc (NYSE:AIG) is a global insurance organization whose principal operating business is general insurance. Through its property and casualty operations, AIG provides commercial and personal insurance products, including coverage for businesses, multinational companies, individuals, and specialty risks. Its offerings include property, casualty, liability, marine, aviation, cyber, accident, and travel insurance, along with other risk-management solutions.

AIG serves customers through a network spanning approximately 190 countries and jurisdictions.