American International Group, Inc. (NYSE:AIG) Holdings Lifted by Panagora Asset Management Inc.

Panagora Asset Management Inc. grew its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 3,060.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 350,364 shares of the insurance provider's stock after purchasing an additional 339,277 shares during the quarter. Panagora Asset Management Inc.'s holdings in American International Group were worth $23,737,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AIG. OFI Invest Asset Management purchased a new position in American International Group during the third quarter worth approximately $26,000. Headlands Technologies LLC purchased a new position in American International Group during the third quarter worth approximately $32,000. CNB Bank purchased a new position in American International Group during the third quarter worth approximately $42,000. SouthState Corp raised its stake in 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 purchasing an additional 217 shares during the period. Finally, Blue Trust Inc. raised its stake in 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 purchasing an additional 232 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Stock Performance

NYSE:AIG traded up $1.80 during mid-day trading on Friday, hitting $80.54. The stock had a trading volume of 6,778,781 shares, compared to its average volume of 3,959,874. The stock has a market capitalization of $53.45 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 1.11 and a beta of 1.02. The company has a 50 day simple moving average of $76.67 and a 200-day simple moving average of $70.78. American International Group, Inc. has a 52 week low of $52.78 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.

American International Group (NYSE:AIG - Get Free Report) last announced 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. The company had revenue of $12.58 billion for the quarter, compared to analysts' expectations of $12.04 billion. American International Group had a net margin of 9.98% and a return on equity of 10.54%. During the same quarter in the previous year, the company posted $1.63 EPS. On average, research analysts expect that American International Group, Inc. will post 7.08 earnings per share for the current fiscal year.

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors 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 1.99%. The ex-dividend date is Friday, June 14th. American International Group's dividend payout ratio (DPR) is currently 21.49%.

American International Group announced that its Board of Directors has approved a stock 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 repurchase up to 19.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have weighed in on AIG shares. Morgan Stanley increased their price target on shares of 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. Wells Fargo & Company increased their price objective on shares of American International Group from $80.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Friday, May 10th. UBS Group increased their price objective on shares of American International Group from $83.00 to $84.00 and gave the stock a "buy" rating in a research report on Thursday, February 22nd. Citigroup increased their price objective on shares of American International Group from $79.00 to $87.00 and gave the stock a "buy" rating in a research report on Tuesday, April 16th. Finally, Piper Sandler increased their price objective on shares of American International Group from $87.00 to $89.00 and gave the stock an "overweight" rating in a research report on Friday, April 19th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $81.06.

Insider Buying and Selling at American International Group

In other American International Group news, CEO Peter Zaffino sold 333,000 shares of the 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 sale, the chief executive officer now directly owns 505,420 shares of the company's stock, valued at approximately $38,346,215.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction dated 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 sale, 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 is available at the SEC website. Also, Director John C. Inglis acquired 659 shares of the firm'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 owns 659 shares in the company, valued at $49,682.01. The disclosure for this purchase can be found here. Corporate insiders own 0.61% of the company's stock.

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 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.