Leeward Investments LLC MA Has $18.18 Million Stock Holdings in American International Group, Inc. (NYSE:AIG)

Leeward Investments LLC MA lowered its holdings in shares of American International Group, Inc. (NYSE:AIG) by 19.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 232,585 shares of the insurance provider’s stock after selling 55,843 shares during the period. Leeward Investments LLC MA’s holdings in American International Group were worth $18,181,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Norden Group LLC grew its position in shares of American International Group by 2,252.4% during the 1st quarter. Norden Group LLC now owns 162,784 shares of the insurance provider’s stock worth $12,725,000 after buying an additional 155,864 shares during the period. Denali Advisors LLC grew its holdings in American International Group by 17.0% in the first quarter. Denali Advisors LLC now owns 12,400 shares of the insurance provider’s stock worth $969,000 after purchasing an additional 1,800 shares during the period. Verum Partners LLC bought a new stake in American International Group in the first quarter valued at $227,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its holdings in shares of American International Group by 2.3% during the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 594,793 shares of the insurance provider’s stock valued at $46,495,000 after purchasing an additional 13,554 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of American International Group by 13.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 627,917 shares of the insurance provider’s stock worth $49,084,000 after purchasing an additional 72,487 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wells Fargo & Company upped their price target on American International Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. Evercore ISI cut their target price on American International Group from $81.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, June 27th. Morgan Stanley lifted their price target on shares of American International Group from $72.00 to $79.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. upped their price objective on shares of American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, Citigroup lifted their price objective on shares of American International Group from $79.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $81.38.

American International Group Stock Down 0.2 %

AIG stock traded down $0.18 during trading on Thursday, reaching $75.15. The stock had a trading volume of 2,341,248 shares, compared to its average volume of 4,921,689. 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 company has a market capitalization of $49.87 billion, a price-to-earnings ratio of 11.22, a P/E/G ratio of 2.07 and a beta of 1.08. American International Group, Inc. has a one year low of $56.88 and a one year high of $80.83. The company’s 50 day moving average is $76.75 and its two-hundred day moving average is $73.43.

American International Group (NYSE:AIG) last released its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, beating 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 company posted $1.63 earnings per share. Equities research analysts forecast that American International Group, Inc. will post 7.02 EPS for the current year.

American International Group Increases Dividend

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

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

Insider Buying and Selling

In related news, major shareholder International Group American sold 30,000,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were 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 owns 294,203,636 shares in the company, valued at $8,590,746,171.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.61% of the stock is owned by insiders.

American International Group Company 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.