Ascent Group LLC Has $627,000 Holdings in American International Group, Inc. (NYSE:AIG)

Ascent Group LLC cut its holdings in American International Group, Inc. (NYSE:AIG) by 3.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 8,024 shares of the insurance provider’s stock after selling 289 shares during the quarter. Ascent Group LLC’s holdings in American International Group were worth $627,000 at the end of the most recent reporting period.

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

American International Group Trading Up 2.1 %

AIG stock traded up $1.65 during mid-day trading on Tuesday, reaching $79.63. The company’s stock had a trading volume of 1,620,382 shares, compared to its average volume of 4,137,713. The company has a market cap of $52.85 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 2.55 and a beta of 1.08. The business’s 50 day moving average price is $76.10 and its 200 day moving average price is $74.59. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.05. American International Group, Inc. has a 12 month low of $57.02 and a 12 month high of $80.83.

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, topping analysts’ consensus estimates of $1.66 by $0.11. The business had revenue of $12.58 billion during 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 period in the previous year, the company posted $1.63 earnings per share. On average, equities research analysts predict that American International Group, Inc. will post 6.4 EPS for the current year.

American International Group announced that its Board of Directors has approved a share buyback plan on Wednesday, May 1st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the insurance provider to buy up to 19.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board 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. Shareholders of record on Friday, June 14th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Friday, June 14th. This is a boost from American International Group’s previous quarterly dividend of $0.36. American International Group’s dividend payout ratio (DPR) is 23.88%.

Insider Buying and Selling at American International Group

In other American International Group news, major shareholder International Group American sold 1,932,609 shares of the firm’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 owns 292,271,027 shares of the company’s stock, valued at $8,534,313,988.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on AIG shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $87.00 target price on shares of American International Group in a research report on Tuesday, July 9th. Bank of America dropped their target price on American International Group from $84.00 to $81.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Evercore ISI lowered their price objective on American International Group from $81.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, June 27th. Piper Sandler raised their price objective on American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Finally, Morgan Stanley lowered their price objective on American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $82.50.

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.