American Century Companies Inc. lifted its position in shares of American International Group, Inc. (NYSE:AIG – Free Report) by 25.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 304,020 shares of the insurance provider’s stock after buying an additional 60,858 shares during the period. American Century Companies Inc.’s holdings in American International Group were worth $15,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in the company. Thompson Investment Management Inc. purchased a new stake in American International Group in the first quarter valued at $28,000. Creative Capital Management Investments LLC acquired a new position in American International Group in the first quarter valued at about $43,000. Motco purchased a new position in American International Group during the fourth quarter worth about $53,000. AM Squared Ltd acquired a new stake in shares of American International Group during the fourth quarter valued at about $63,000. Finally, Ridgewood Investments LLC purchased a new stake in shares of American International Group in the 1st quarter valued at approximately $69,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.
Analyst Ratings Changes
AIG has been the subject of a number of research analyst reports. BMO Capital Markets lowered their price objective on shares of American International Group from $65.00 to $63.00 and set a “market perform” rating for the company in a research report on Thursday, August 24th. StockNews.com initiated coverage on American International Group in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Wells Fargo & Company raised their target price on American International Group from $61.00 to $62.00 and gave the company an “equal weight” rating in a report on Tuesday, August 15th. Piper Sandler boosted their price target on shares of American International Group from $76.00 to $77.00 in a research note on Tuesday, May 23rd. Finally, TheStreet raised shares of American International Group from a “c+” rating to a “b-” rating in a research report on Friday, June 23rd. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $68.00.
Insider Buying and Selling at American International Group
In other news, Director William G. Jurgensen sold 475 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $55.03, for a total transaction of $26,139.25. Following the completion of the sale, the director now owns 1,025 shares in the company, valued at approximately $56,405.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder International Group American sold 74,750,000 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $16.25, for a total transaction of $1,214,687,500.00. Following the transaction, the insider now owns 426,395,000 shares in the company, valued at approximately $6,928,918,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William G. Jurgensen sold 475 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $55.03, for a total value of $26,139.25. Following the completion of the sale, the director now owns 1,025 shares of the company’s stock, valued at approximately $56,405.75. The disclosure for this sale can be found here. Insiders have sold 85,739,975 shares of company stock worth $1,395,423,079 over the last three months. Insiders own 0.49% of the company’s stock.
American International Group Trading Up 1.2 %
Shares of NYSE:AIG opened at $59.23 on Friday. The company has a market cap of $42.17 billion, a PE ratio of 10.02, a P/E/G ratio of 0.86 and a beta of 1.13. The company’s 50 day moving average is $58.94 and its two-hundred day moving average is $55.73. American International Group, Inc. has a 52 week low of $45.66 and a 52 week high of $64.88. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06.
American International Group (NYSE:AIG – Get Free Report) last posted its earnings results on Wednesday, August 2nd. The insurance provider reported $1.75 EPS for the quarter, beating the consensus estimate of $1.54 by $0.21. The firm had revenue of $13.22 billion for the quarter, compared to analyst estimates of $12.28 billion. American International Group had a return on equity of 9.28% and a net margin of 8.94%. During the same quarter in the prior year, the company posted $1.19 earnings per share. Equities analysts predict that American International Group, Inc. will post 6.71 earnings per share for the current fiscal year.
American International Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date is Thursday, September 14th. American International Group’s dividend payout ratio (DPR) is 24.37%.
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 General Insurance, and Life and Retirement segments. 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.
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