Corient Private Wealth LLC Reduces Position in American International Group, Inc. (NYSE:AIG)

Corient Private Wealth LLC decreased its stake in American International Group, Inc. (NYSE:AIG) by 2.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 340,029 shares of the insurance provider’s stock after selling 7,912 shares during the period. Corient Private Wealth LLC’s holdings in American International Group were worth $23,037,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Invesco Ltd. boosted its holdings in shares of American International Group by 3.0% in the 3rd quarter. Invesco Ltd. now owns 17,085,545 shares of the insurance provider’s stock valued at $1,035,384,000 after buying an additional 503,547 shares in the last quarter. FMR LLC boosted its holdings in shares of American International Group by 5.0% in the 3rd quarter. FMR LLC now owns 12,745,085 shares of the insurance provider’s stock valued at $772,352,000 after buying an additional 604,901 shares in the last quarter. Norges Bank acquired a new position in shares of American International Group in the 4th quarter valued at $746,005,000. Northern Trust Corp boosted its holdings in shares of American International Group by 1.8% in the 3rd quarter. Northern Trust Corp now owns 7,711,308 shares of the insurance provider’s stock valued at $467,305,000 after buying an additional 133,828 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in shares of American International Group by 5.3% in the 4th quarter. LSV Asset Management now owns 5,786,940 shares of the insurance provider’s stock valued at $392,065,000 after buying an additional 290,061 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Stock Down 1.7 %

AIG stock opened at $77.58 on Friday. The company has a fifty day moving average of $76.91 and a 200-day moving average of $71.22. 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 market capitalization of $51.49 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 0.94 and a beta of 1.02. American International Group, Inc. has a one year low of $52.78 and a one year high of $80.83.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, beating 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 net margin of 9.98% and a return on equity of 10.54%. During the same quarter last year, the firm posted $1.63 EPS. As a group, analysts expect that American International Group, Inc. will post 7.08 EPS for the current year.

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

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, June 14th. This is an increase from American International Group’s previous quarterly dividend of $0.36. American International Group’s dividend payout ratio (DPR) is currently 21.49%.

Insider Activity

In related news, Director John C. Inglis purchased 659 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the acquisition, the director now directly owns 659 shares of the company’s stock, valued at approximately $49,682.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other American International Group news, Director John C. Inglis bought 659 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the acquisition, the director now owns 659 shares of the company’s stock, valued at approximately $49,682.01. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the transaction, the chief executive officer now owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AIG shares. Evercore ISI upped their target price on shares of American International Group from $80.00 to $81.00 and gave the company an “in-line” rating in a report on Friday, May 3rd. Bank of America cut shares of American International Group from a “buy” rating to a “neutral” rating and increased their price target for the stock from $75.00 to $77.00 in a research note on Tuesday, February 20th. UBS Group increased their price target on shares of American International Group from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Keefe, Bruyette & Woods increased their price target on shares of American International Group from $82.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Finally, HSBC cut shares of American International Group from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a research note on Wednesday, May 15th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $81.06.

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.