Denali Advisors LLC Increases Stock Holdings in American International Group, Inc. (NYSE:AIG)

Denali Advisors LLC raised its stake in American International Group, Inc. (NYSE:AIG) by 17.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,400 shares of the insurance provider’s stock after purchasing an additional 1,800 shares during the period. Denali Advisors LLC’s holdings in American International Group were worth $969,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its holdings in shares of American International Group by 18.7% in the fourth quarter. Nordea Investment Management AB now owns 2,032,907 shares of the insurance provider’s stock valued at $138,014,000 after acquiring an additional 319,948 shares during the period. American Century Companies Inc. boosted its holdings in shares of American International Group by 22.6% in the third quarter. American Century Companies Inc. now owns 422,852 shares of the insurance provider’s stock valued at $25,625,000 after acquiring an additional 77,874 shares during the period. Essex Financial Services Inc. acquired a new stake in shares of American International Group in the fourth quarter valued at approximately $260,000. TCW Group Inc. acquired a new stake in shares of American International Group in the fourth quarter valued at approximately $724,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of American International Group during the fourth quarter worth $948,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Stock Down 0.2 %

American International Group stock traded down $0.18 during midday trading on Wednesday, hitting $75.15. 2,341,227 shares of the company were exchanged, compared to its average volume of 4,134,611. The company’s fifty day moving average price is $76.74 and its 200-day moving average price is $73.42. The company has a market cap of $49.87 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 2.04 and a beta of 1.08. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.29 and a quick ratio of 0.29. American International Group, Inc. has a fifty-two week low of $56.88 and a fifty-two week high of $80.83.

American International Group (NYSE:AIG) last released its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, topping the consensus estimate of $1.66 by $0.11. American International Group had a return on equity of 10.54% and a net margin of 9.98%. The firm had revenue of $12.58 billion for the quarter, compared to analyst estimates of $12.04 billion. During the same period in the previous year, the company posted $1.63 EPS. On average, research analysts predict that American International Group, Inc. will post 7.02 EPS for the current fiscal year.

American International Group declared that its Board of Directors has initiated a share buyback program on Wednesday, May 1st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the insurance provider to buy up to 19.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

American International Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 14th. This is an increase from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 2.13%. American International Group’s payout ratio is currently 23.88%.

Insider Activity

In other news, major shareholder International Group American sold 1,932,609 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total value of $56,432,182.80. Following the completion of the sale, the insider now directly owns 292,271,027 shares in the company, valued at approximately $8,534,313,988.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AIG. Wells Fargo & Company lifted their price objective on 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. Piper Sandler raised their price target on American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. JPMorgan Chase & Co. raised their price target on American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Bank of America raised their price target on American International Group from $82.00 to $84.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 11th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $87.00 price target on shares of American International Group in a research note on Thursday, June 27th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $81.38.

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.