abrdn plc increased its position in American International Group, Inc. (NYSE:AIG - Free Report) by 19.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 598,143 shares of the insurance provider's stock after purchasing an additional 98,143 shares during the period. abrdn plc owned approximately 0.09% of American International Group worth $40,524,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in shares of American International Group in the 3rd quarter worth $26,000. Headlands Technologies LLC bought a new position in shares of American International Group in the 3rd quarter worth $32,000. CNB Bank bought a new position in American International Group during the 3rd quarter valued at $42,000. SouthState Corp lifted its stake in 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 in the last quarter. Finally, Blue Trust Inc. lifted its stake in American International Group by 41.7% during the 4th quarter. Blue Trust Inc. now owns 788 shares of the insurance provider's stock valued at $53,000 after acquiring an additional 232 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors.
American International Group Stock Performance
AIG traded up $0.73 during trading hours on Monday, hitting $74.96. The stock had a trading volume of 2,730,296 shares, compared to its average volume of 3,966,146. The company's fifty day simple moving average is $74.31 and its 200 day simple moving average is $68.66. American International Group, Inc. has a 1 year low of $48.95 and a 1 year high of $78.95. The stock has a market cap of $51.04 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 1.07 and a beta of 1.03. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.44.
American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.20. American International Group had a return on equity of 10.68% and a net margin of 7.78%. The company had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter last year, the firm posted $1.36 EPS. The firm's revenue for the quarter was up .0% on a year-over-year basis. Equities analysts anticipate that American International Group, Inc. will post 6.95 earnings per share for the current year.
American International Group Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Wednesday, March 13th. American International Group's dividend payout ratio (DPR) is currently 28.86%.
Wall Street Analyst Weigh In
Several brokerages have weighed in on AIG. Citigroup raised their price objective on American International Group from $79.00 to $87.00 and gave the company a "buy" rating in a research note on Tuesday, April 16th. HSBC began coverage on American International Group in a research note on Thursday, December 28th. They set a "buy" rating and a $86.00 price objective on the stock. UBS Group raised their price objective on American International Group from $83.00 to $84.00 and gave the company a "buy" rating in a research note on Thursday, February 22nd. JPMorgan Chase & Co. raised their price objective on American International Group from $73.00 to $80.00 and gave the company a "neutral" rating in a research note on Monday, April 8th. Finally, Bank of America cut American International Group from a "buy" rating to a "neutral" rating and raised their price objective for the company from $75.00 to $77.00 in a research note on Tuesday, February 20th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $80.38.
View Our Latest Analysis on American International Group
Insider Buying and Selling
In related news, Director John C. Inglis bought 659 shares of American International Group stock in a transaction on Thursday, March 14th. The stock was acquired at an average price of $75.39 per share, with a total value of $49,682.01. Following the acquisition, the director now directly owns 659 shares of the company's stock, valued at $49,682.01. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other American International Group news, CEO Peter Zaffino sold 333,000 shares of American International Group stock in a transaction dated Friday, March 15th. The stock was 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 owns 505,420 shares of the company's stock, valued at approximately $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 bought 659 shares of American International Group stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $75.39 per share, with a total value of $49,682.01. Following the acquisition, the director now directly owns 659 shares in the company, valued at $49,682.01. The disclosure for this purchase can be found here. 0.61% of the stock is currently owned by insiders.
About American International Group
(
Free Report)
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.
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