Los Angeles Capital Management LLC Cuts Position in American International Group, Inc. (NYSE:AIG)

Los Angeles Capital Management LLC reduced its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 71.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 480,285 shares of the insurance provider's stock after selling 1,211,581 shares during the period. Los Angeles Capital Management LLC owned about 0.07% of American International Group worth $32,539,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. OFI Invest Asset Management acquired a new position in shares of American International Group in the third quarter worth $26,000. Headlands Technologies LLC purchased a new stake in American International Group during the 3rd quarter worth about $32,000. CNB Bank acquired a new stake in American International Group in the 3rd quarter valued at about $42,000. SouthState Corp grew its position in shares of 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. increased its stake in shares of 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 period. 90.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets reduced 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. UBS Group increased their price objective on American International Group from $83.00 to $84.00 and gave the company a "buy" rating in a report on Thursday, February 22nd. Morgan Stanley boosted their target price on American International Group from $72.00 to $79.00 and gave the stock an "equal weight" rating in a research note on Monday, April 15th. Evercore ISI raised their price objective on shares of American International Group from $80.00 to $81.00 and gave the stock an "in-line" rating in a report on Friday. Finally, JPMorgan Chase & Co. upped their target price on shares of American International Group from $73.00 to $80.00 and gave the company a "neutral" rating in a report on Monday, April 8th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, American International Group has an average rating of "Moderate Buy" and an average price target of $80.44.

Insider Buying and Selling at American International Group

In other American International Group news, Director John C. Inglis acquired 659 shares of the company's stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $75.39 per share, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Peter Zaffino sold 333,000 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 505,420 shares of the company's stock, valued at approximately $38,346,215.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John C. Inglis bought 659 shares of the stock in a transaction on 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 owns 659 shares of the company's stock, valued at $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 Trading Up 0.5 %

Shares of NYSE:AIG traded up $0.38 during trading on Friday, reaching $78.48. 6,295,587 shares of the stock were exchanged, compared to its average volume of 4,001,248. American International Group, Inc. has a 12-month low of $48.95 and a 12-month high of $79.70. The firm's 50-day moving average price is $75.24 and its 200 day moving average price is $69.36. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a market cap of $53.44 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.09 and a beta of 1.02.

American International Group (NYSE:AIG - Get Free Report) 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 10.68%. The company had revenue of $12.58 billion during the quarter, compared to analyst estimates of $12.04 billion. During the same quarter in the prior year, the business earned $1.63 earnings per share. On average, sell-side analysts anticipate that American International Group, Inc. will post 6.95 earnings per share for the current fiscal year.

American International Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.40 per share. This is an increase from American International Group's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 2.04%. American International Group's payout ratio is 21.49%.

American International Group announced that its Board of Directors has authorized a share repurchase program on Wednesday, May 1st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to purchase up to 19.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management 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.

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