Inceptionr LLC Buys New Shares in American International Group, Inc. (NYSE:AIG)

Inceptionr LLC purchased a new stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,181 shares of the insurance provider's stock, valued at approximately $893,000. American International Group comprises about 0.6% of Inceptionr LLC's investment portfolio, making the stock its 9th largest holding.

A number of other hedge funds have also recently bought and sold shares of the stock. Invesco Ltd. raised its stake in American International Group by 3.0% in the third quarter. Invesco Ltd. now owns 17,085,545 shares of the insurance provider's stock valued at $1,035,384,000 after buying an additional 503,547 shares during the period. FMR LLC raised its position in shares of American International Group by 5.0% in the third quarter. FMR LLC now owns 12,745,085 shares of the insurance provider's stock valued at $772,352,000 after purchasing an additional 604,901 shares during the period. Northern Trust Corp raised its holdings in American International Group by 1.8% in the 3rd quarter. Northern Trust Corp now owns 7,711,308 shares of the insurance provider's stock valued at $467,305,000 after acquiring an additional 133,828 shares during the period. LSV Asset Management lifted its position in American International Group by 5.3% during the fourth quarter. LSV Asset Management now owns 5,786,940 shares of the insurance provider's stock worth $392,065,000 after acquiring an additional 290,061 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of American International Group by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,395,566 shares of the insurance provider's stock valued at $297,800,000 after purchasing an additional 32,065 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors.

Insider Activity

In other American International Group news, Director John C. Inglis purchased 659 shares of the business's stock in a transaction dated Thursday, March 14th. The shares were bought at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the acquisition, the director now owns 659 shares in the company, valued at $49,682.01. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Peter Zaffino sold 333,000 shares of the business's stock in a transaction that occurred 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 owns 505,420 shares in the company, valued at approximately $38,346,215.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John C. Inglis acquired 659 shares of the firm's stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $75.39 per share, with a total value of $49,682.01. Following the completion of the transaction, 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 insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AIG shares. Piper Sandler lifted their price target on American International Group from $87.00 to $89.00 and gave the stock an "overweight" rating in a report on Friday, April 19th. Bank of America cut shares of American International Group from a "buy" rating to a "neutral" rating and boosted their target price for the company from $75.00 to $77.00 in a research report on Tuesday, February 20th. Royal Bank of Canada raised their price target on shares of American International Group from $76.00 to $80.00 and gave the stock an "outperform" rating in a research report on Thursday, February 15th. Keefe, Bruyette & Woods boosted their price objective on shares of American International Group from $82.00 to $86.00 and gave the company an "outperform" rating in a report on Wednesday, April 10th. Finally, BMO Capital Markets raised their target price on shares of American International Group from $88.00 to $89.00 and gave the stock an "outperform" rating in a report on Monday. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, American International Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $81.06.

American International Group Price Performance

NYSE:AIG traded up $0.43 on Tuesday, hitting $79.42. The company had a trading volume of 3,141,027 shares, compared to its average volume of 3,974,970. American International Group, Inc. has a 52 week low of $52.07 and a 52 week high of $80.83. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $52.71 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 1.13 and a beta of 1.02. The firm has a 50 day moving average of $76.28 and a two-hundred day moving average of $70.39.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.11. The company had revenue of $12.58 billion during the quarter, compared to analysts' expectations of $12.04 billion. American International Group had a return on equity of 10.54% and a net margin of 9.98%. During the same period in the prior year, the company earned $1.63 EPS. On average, research analysts anticipate that American International Group, Inc. will post 7.08 earnings per share for the current year.

American International Group announced that its Board of Directors has approved a stock repurchase plan on Wednesday, May 1st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the insurance provider to reacquire up to 19.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

American International Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.40 per share. This is a boost from American International Group's previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Friday, June 14th. American International Group's payout ratio is 21.49%.

American International Group Company 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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