American International Group, Inc. (NYSE:AIG) Stake Lifted by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in American International Group, Inc. (NYSE:AIG) by 29.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 8,770 shares of the insurance provider’s stock after buying an additional 2,018 shares during the quarter. GAMMA Investing LLC’s holdings in American International Group were worth $651,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Transcend Capital Advisors LLC increased its position in American International Group by 89.1% in the 2nd quarter. Transcend Capital Advisors LLC now owns 8,614 shares of the insurance provider’s stock valued at $640,000 after acquiring an additional 4,058 shares during the period. Hamilton Wealth LLC acquired a new position in shares of American International Group during the first quarter valued at $366,000. DekaBank Deutsche Girozentrale raised its stake in shares of American International Group by 8.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 142,369 shares of the insurance provider’s stock valued at $11,081,000 after purchasing an additional 10,581 shares in the last quarter. Soltis Investment Advisors LLC lifted its holdings in American International Group by 12.9% in the first quarter. Soltis Investment Advisors LLC now owns 63,177 shares of the insurance provider’s stock worth $4,939,000 after purchasing an additional 7,212 shares during the period. Finally, Teachers Retirement System of The State of Kentucky grew its position in American International Group by 431.8% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 333,587 shares of the insurance provider’s stock valued at $26,076,000 after buying an additional 270,857 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Stock Down 3.9 %

Shares of AIG traded down $2.94 during mid-day trading on Friday, reaching $71.97. The company’s stock had a trading volume of 7,453,145 shares, compared to its average volume of 4,655,245. American International Group, Inc. has a 1 year low of $57.02 and a 1 year 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 company has a market cap of $47.76 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 2.48 and a beta of 1.07. The business has a fifty day moving average of $75.93 and a 200 day moving average of $74.84.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.14). American International Group had a positive return on equity of 9.37% and a negative net margin of 1.54%. The business had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the prior year, the company posted $1.75 earnings per share. The firm’s revenue was up .0% on a year-over-year basis. As a group, analysts forecast that American International Group, Inc. will post 6.4 earnings per share for the current fiscal year.

American International Group declared that its board has authorized a share repurchase plan on Wednesday, May 1st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the insurance provider to reacquire up to 19.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Monday, September 16th. American International Group’s payout ratio is presently 23.88%.

Insider Activity at American International Group

In other news, Director W Don Cornwell 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director W Don Cornwell 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder International Group American sold 1,932,609 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 292,271,027 shares of the company’s stock, valued at $8,534,313,988.40. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on AIG shares. BMO Capital Markets boosted their price target on shares of American International Group from $88.00 to $89.00 and gave the stock an “outperform” rating in a research report on Monday, May 13th. Piper Sandler cut their target price on American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday. HSBC cut American International Group from a “buy” rating to a “hold” rating and set a $86.00 price target on the stock. in a research report on Wednesday, May 15th. Morgan Stanley cut their price objective on American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Finally, Citigroup lowered their target price on American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, July 23rd. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $82.38.

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.