Poplar Forest Capital LLC Cuts Stake in American International Group, Inc. (NYSE:AIG)

Poplar Forest Capital LLC trimmed its position in shares of American International Group, Inc. (NYSE:AIG) by 37.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 169,392 shares of the insurance provider’s stock after selling 101,547 shares during the quarter. American International Group comprises about 1.7% of Poplar Forest Capital LLC’s holdings, making the stock its 26th biggest holding. Poplar Forest Capital LLC’s holdings in American International Group were worth $11,476,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Meeder Advisory Services Inc. boosted its holdings in shares of American International Group by 1.3% during the 3rd quarter. Meeder Advisory Services Inc. now owns 12,808 shares of the insurance provider’s stock valued at $776,000 after acquiring an additional 162 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in shares of American International Group by 3.6% during the 3rd quarter. Avantax Advisory Services Inc. now owns 4,819 shares of the insurance provider’s stock valued at $292,000 after acquiring an additional 167 shares during the last quarter. Steph & Co. boosted its holdings in shares of American International Group by 3.3% during the 3rd quarter. Steph & Co. now owns 5,448 shares of the insurance provider’s stock valued at $330,000 after acquiring an additional 176 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in shares of American International Group by 2.7% during the 4th quarter. Lindbrook Capital LLC now owns 6,764 shares of the insurance provider’s stock valued at $458,000 after acquiring an additional 176 shares during the last quarter. Finally, Aspiriant LLC boosted its holdings in shares of American International Group by 3.4% during the 4th quarter. Aspiriant LLC now owns 5,417 shares of the insurance provider’s stock valued at $367,000 after acquiring an additional 178 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AIG shares. Morgan Stanley raised their price target on shares of American International Group from $72.00 to $79.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. HSBC started coverage on shares of American International Group in a report on Thursday, December 28th. They issued a “buy” rating and a $86.00 price objective on the stock. BMO Capital Markets dropped 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 report on Thursday, February 15th. Wells Fargo & Company raised their price objective on shares of American International Group from $74.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, April 11th. Finally, Royal Bank of Canada raised their price objective on shares of American International Group from $76.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $80.38.

Insider Activity

In related news, CEO Peter Zaffino sold 333,000 shares of the firm’s 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 completion of the transaction, 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 legal filing with the SEC, which is available at the SEC website. 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 transaction of $25,264,710.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John C. Inglis acquired 659 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $75.39 per share, with a total value of $49,682.01. Following the completion of the purchase, the director now directly owns 659 shares of the company’s stock, valued at $49,682.01. The disclosure for this purchase can be found here. Company insiders own 0.61% of the company’s stock.

American International Group Price Performance

Shares of American International Group stock traded up $0.05 on Wednesday, hitting $74.98. 2,684,606 shares of the company traded hands, compared to its average volume of 3,937,835. The stock has a market capitalization of $51.06 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 1.08 and a beta of 1.03. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31. American International Group, Inc. has a 52 week low of $48.95 and a 52 week high of $78.95. The business has a 50-day simple moving average of $74.52 and a 200 day simple moving average of $68.81.

American International Group (NYSE:AIG) last released its quarterly earnings data on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.20. The firm had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.61 billion. American International Group had a net margin of 7.78% and a return on equity of 10.68%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the business posted $1.36 earnings per share. Research analysts expect that American International Group, Inc. will post 6.95 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Wednesday, March 13th. American International Group’s payout ratio is currently 28.86%.

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.