Perpetual Ltd Boosts Stock Position in American International Group, Inc. (NYSE:AIG)

Perpetual Ltd raised its position in shares of American International Group, Inc. (NYSE:AIG) by 2.8% during the 1st quarter, Holdings Channel reports. The firm owned 444,507 shares of the insurance provider’s stock after buying an additional 11,936 shares during the quarter. Perpetual Ltd’s holdings in American International Group were worth $34,747,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in American International Group during the 1st quarter valued at about $29,000. Neo Ivy Capital Management acquired a new position in shares of American International Group in the 4th quarter valued at about $40,000. Scarborough Advisors LLC acquired a new position in shares of American International Group in the 4th quarter valued at about $40,000. Blue Trust Inc. lifted its holdings in shares of American International Group by 41.7% in the 4th quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock valued at $53,000 after buying an additional 232 shares during the period. Finally, EdgeRock Capital LLC acquired a new position in shares of American International Group in the 4th quarter valued at about $57,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder International Group American sold 30,000,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on AIG shares. UBS Group upped their price target on American International Group from $83.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. HSBC cut American International Group from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a report on Wednesday, May 15th. BMO Capital Markets upped their price target on American International Group from $88.00 to $89.00 and gave the stock an “outperform” rating in a report on Monday, May 13th. Bank of America upped their price target on American International Group from $82.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, June 11th. Finally, Piper Sandler upped 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. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $81.50.

American International Group Price Performance

Shares of AIG stock traded up $0.75 during trading hours on Thursday, reaching $74.88. The company had a trading volume of 3,782,813 shares, compared to its average volume of 3,985,153. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a fifty day moving average of $76.56 and a 200-day moving average of $72.82. The company has a market capitalization of $49.70 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 2.04 and a beta of 1.08. American International Group, Inc. has a 12-month low of $54.84 and a 12-month high of $80.83.

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, topping the consensus estimate of $1.66 by $0.11. The company had revenue of $12.58 billion during the quarter, compared to analyst estimates 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 business posted $1.63 earnings per share. On average, equities analysts anticipate that American International Group, Inc. will post 7.02 earnings per share for the current year.

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

American International Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.14%. This is a positive change from American International Group’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, June 14th. American International Group’s dividend payout ratio is presently 23.88%.

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.