National Pension Service Grows Stock Position in American International Group, Inc. (NYSE:AIG)

National Pension Service increased its position in shares of American International Group, Inc. (NYSE:AIG) by 3.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,034,410 shares of the insurance provider’s stock after purchasing an additional 68,804 shares during the quarter. National Pension Service owned approximately 0.29% of American International Group worth $137,831,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in shares of American International Group in the third quarter worth about $26,000. Headlands Technologies LLC acquired a new position in shares of American International Group during the 3rd quarter worth approximately $32,000. CNB Bank acquired a new stake in shares of American International Group in the third quarter valued at approximately $42,000. SouthState Corp lifted its position in American International Group by 41.7% during the third quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock worth $45,000 after buying an additional 217 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in American International Group by 41.7% during the fourth quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock worth $53,000 after buying an additional 232 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AIG shares. Piper Sandler boosted their price target on shares of American International Group from $87.00 to $89.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Citigroup raised their price target on shares of American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. increased their price objective 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. Royal Bank of Canada lifted their target price on American International Group from $76.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Finally, Keefe, Bruyette & Woods increased their price target on American International Group from $82.00 to $86.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. 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 presently has an average rating of “Moderate Buy” and an average target price of $80.44.

Insiders Place Their Bets

In other news, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other American International Group news, CEO Peter Zaffino sold 333,000 shares of American International Group 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 directly owns 505,420 shares in the company, valued at $38,346,215.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John C. Inglis bought 659 shares of the firm’s stock in a transaction dated 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 purchase, 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 currently owned by corporate insiders.

American International Group Stock Down 0.5 %

NYSE:AIG traded down $0.39 during midday trading on Wednesday, reaching $79.89. The company had a trading volume of 3,122,839 shares, compared to its average volume of 3,995,037. The stock’s fifty day simple moving average is $75.73 and its 200-day simple moving average is $69.84. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.05. American International Group, Inc. has a 12-month low of $51.86 and a 12-month high of $80.76. The firm has a market capitalization of $53.02 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 1.11 and a beta of 1.02.

American International Group (NYSE:AIG) last released 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 net margin of 9.98% and a return on equity of 10.54%. The business had revenue of $12.58 billion during the quarter, compared to analysts’ expectations of $12.04 billion. During the same period in the previous year, the company earned $1.63 EPS. On average, sell-side analysts anticipate that American International Group, Inc. will post 7.05 earnings per share for the current fiscal year.

American International Group Increases Dividend

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

American International Group declared that its Board of Directors has approved a share 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 buy up to 19.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

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.