American International Group, Inc. (NYSE:AIG) Shares Sold by Pitcairn Co.

Pitcairn Co. reduced its holdings in American International Group, Inc. (NYSE:AIG) by 58.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,106 shares of the insurance provider’s stock after selling 12,924 shares during the period. Pitcairn Co.’s holdings in American International Group were worth $712,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AIG. Rise Advisors LLC acquired a new stake in shares of American International Group in the first quarter worth approximately $29,000. Valued Wealth Advisors LLC boosted its stake in shares of American International Group by 303.3% in the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 276 shares during the last quarter. CENTRAL TRUST Co boosted its stake in shares of American International Group by 123.8% in the first quarter. CENTRAL TRUST Co now owns 452 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 250 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in shares of American International Group in the fourth quarter worth approximately $40,000. Finally, Scarborough Advisors LLC acquired a new stake in shares of American International Group in the fourth quarter worth approximately $40,000. 90.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder International Group American sold 1,932,609 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the completion of the transaction, the insider now directly owns 292,271,027 shares of the company’s stock, valued at approximately $8,534,313,988.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AIG. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $87.00 price target on shares of American International Group in a research note on Tuesday, July 9th. 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 research note on Friday, April 19th. 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. Morgan Stanley reduced their price objective on American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $87.00 price objective on shares of American International Group in a research report on Thursday, June 27th. 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.com, American International Group currently has an average rating of “Hold” and a consensus target price of $82.50.

American International Group Trading Down 0.0 %

NYSE:AIG traded down $0.01 on Thursday, reaching $75.25. The company’s stock had a trading volume of 5,303,441 shares, compared to its average volume of 4,159,806. American International Group, Inc. has a 12-month low of $57.02 and a 12-month high of $80.83. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average price of $76.25 and a 200 day moving average price of $74.35. The firm has a market cap of $49.94 billion, a price-to-earnings ratio of 11.23, a price-to-earnings-growth ratio of 2.52 and a beta of 1.08.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $12.58 billion during the quarter, compared to analysts’ expectations of $12.04 billion. During the same period in the previous year, the firm posted $1.63 earnings per share. On average, equities analysts anticipate that American International Group, Inc. will post 6.45 EPS for the current fiscal year.

American International Group declared that its board has approved a stock buyback program on Wednesday, May 1st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the insurance provider to repurchase up to 19.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

American International Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.40 dividend. The ex-dividend date was Friday, June 14th. This is a boost from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.13%. American International Group’s payout ratio is presently 23.88%.

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.