Nomura Asset Management Co. Ltd. Reduces Holdings in American International Group, Inc. (NYSE:AIG)

Nomura Asset Management Co. Ltd. lowered its position in American International Group, Inc. (NYSE:AIG) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 331,830 shares of the insurance provider’s stock after selling 11,213 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in American International Group were worth $22,481,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC bought a new stake in American International Group in the third quarter worth about $32,000. SouthState Corp lifted its stake in shares of American International Group by 41.7% during the 3rd quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock worth $45,000 after acquiring an additional 217 shares during the last quarter. Blue Trust Inc. boosted its holdings in American International Group by 41.7% during the 4th quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock valued at $53,000 after acquiring an additional 232 shares during the period. EdgeRock Capital LLC bought a new position in American International Group in the 4th quarter valued at $57,000. Finally, Highlander Capital Management LLC increased its stake in American International Group by 144.9% in the fourth quarter. Highlander Capital Management LLC now owns 845 shares of the insurance provider’s stock worth $57,000 after purchasing an additional 500 shares during the period. Institutional investors own 90.60% of the company’s stock.

Insider Activity

In related news, CEO Peter Zaffino sold 333,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $75.87, for a total value of $25,264,710.00. Following the completion of the sale, the chief executive officer now owns 505,420 shares of the company’s stock, valued at approximately $38,346,215.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director John C. Inglis acquired 659 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were bought at an average price 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 this link. Also, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the completion of the transaction, the chief executive officer now directly owns 505,420 shares in the company, valued at $38,346,215.40. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

American International Group Stock Performance

NYSE AIG traded up $0.45 on Friday, reaching $78.03. 2,045,776 shares of the company’s stock traded hands, compared to its average volume of 4,205,354. The firm has a market cap of $51.79 billion, a price-to-earnings ratio of 11.65, a P/E/G ratio of 0.93 and a beta of 1.02. American International Group, Inc. has a fifty-two week low of $52.78 and a fifty-two week high of $80.83. The stock has a 50 day moving average price of $76.94 and a 200-day moving average price of $71.37. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.29 and a current ratio of 0.29.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.11. American International Group had a net margin of 9.98% and a return on equity of 10.54%. The business had revenue of $12.58 billion for the quarter, compared to analysts’ expectations of $12.04 billion. During the same quarter last year, the company earned $1.63 EPS. Equities research analysts predict that American International Group, Inc. will post 7.08 EPS for the current fiscal year.

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

American International Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.05%. This is an increase from American International Group’s previous quarterly dividend of $0.36. American International Group’s dividend payout ratio is 21.49%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AIG. HSBC lowered shares of American International Group from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research note on Wednesday, May 15th. JPMorgan Chase & Co. upped their target price on shares of American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Citigroup lifted their price target on shares of American International Group from $79.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Evercore ISI increased their price objective on American International Group from $80.00 to $81.00 and gave the stock an “in-line” rating in a research note on Friday, May 3rd. Finally, Bank of America lowered American International Group from a “buy” rating to a “neutral” rating and lifted their target price for the company from $75.00 to $77.00 in a research report on Tuesday, February 20th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $81.06.

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.