Troluce Capital Advisors LLC Acquires 323,236 Shares of American International Group, Inc. (NYSE:AIG)

Troluce Capital Advisors LLC grew its holdings in shares of American International Group, Inc. (NYSE:AIG) by 149.1% in the fourth quarter, HoldingsChannel reports. The fund owned 540,000 shares of the insurance provider’s stock after buying an additional 323,236 shares during the period. American International Group makes up about 10.0% of Troluce Capital Advisors LLC’s portfolio, making the stock its largest holding. Troluce Capital Advisors LLC’s holdings in American International Group were worth $36,585,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Avantax Advisory Services Inc. raised its holdings in American International Group by 3.6% during the third quarter. Avantax Advisory Services Inc. now owns 4,819 shares of the insurance provider’s stock worth $292,000 after purchasing an additional 167 shares in the last quarter. Atria Wealth Solutions Inc. raised its stake in shares of American International Group by 15.7% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 20,590 shares of the insurance provider’s stock worth $1,248,000 after buying an additional 2,797 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of American International Group by 4.6% in the third quarter. HighTower Advisors LLC now owns 106,912 shares of the insurance provider’s stock valued at $6,473,000 after buying an additional 4,726 shares during the period. Headlands Technologies LLC bought a new position in American International Group during the third quarter valued at about $32,000. Finally, Prime Capital Investment Advisors LLC grew its holdings in American International Group by 74.3% during the third quarter. Prime Capital Investment Advisors LLC now owns 10,669 shares of the insurance provider’s stock worth $647,000 after acquiring an additional 4,547 shares during the period. Institutional investors own 90.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on AIG. Piper Sandler upped their price target on shares of American International Group from $87.00 to $89.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Royal Bank of Canada increased their target price on shares of American International Group from $76.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Wells Fargo & Company lifted their price target 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. Citigroup upped their price target on American International Group from $79.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Evercore ISI raised their price objective on American International Group from $80.00 to $81.00 and gave the stock an “in-line” rating in a research note on Friday, May 3rd. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $81.50.

Insider Activity

In related news, major shareholder International Group American sold 30,000,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $29.20, for a total transaction of $876,000,000.00. Following the completion of the sale, the insider now directly owns 294,203,636 shares in the company, valued at $8,590,746,171.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other American International Group news, major shareholder International Group American sold 30,000,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $29.20, for a total value of $876,000,000.00. Following the transaction, the insider now directly owns 294,203,636 shares of the company’s stock, valued at approximately $8,590,746,171.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John C. Inglis purchased 659 shares of American International Group 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 acquisition, the director now owns 659 shares in the company, 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 Stock Up 0.6 %

American International Group stock traded up $0.47 during mid-day trading on Wednesday, hitting $74.68. The company’s stock had a trading volume of 3,786,234 shares, compared to its average volume of 3,984,135. American International Group, Inc. has a 52-week low of $54.84 and a 52-week high of $80.83. The company has a market cap of $49.56 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 0.90 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. The firm’s 50 day moving average is $76.89 and its 200 day moving average is $72.50.

American International Group (NYSE:AIG) last issued its earnings results 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. The company had revenue of $12.58 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned $1.63 EPS. On average, analysts anticipate that American International Group, Inc. will post 7.09 earnings per share for the current year.

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.14%. This is a positive change from American International Group’s previous quarterly dividend of $0.36. American International Group’s dividend payout ratio (DPR) is 21.49%.

American International Group announced that its board has initiated a stock repurchase plan on Wednesday, May 1st that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the insurance provider to reacquire up to 19.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

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.