SageView Advisory Group LLC Acquires Shares of 2,953 American International Group, Inc. (NYSE:AIG)

SageView Advisory Group LLC acquired a new stake in American International Group, Inc. (NYSE:AIG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,953 shares of the insurance provider’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Neo Ivy Capital Management acquired a new stake in shares of American International Group in the 4th quarter worth $40,000. Scarborough Advisors LLC acquired a new stake in shares of American International Group in the 4th quarter worth $40,000. Blue Trust Inc. increased its stake in shares of American International Group by 41.7% in the 4th quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock worth $53,000 after acquiring an additional 232 shares during the last quarter. EdgeRock Capital LLC acquired a new stake in shares of American International Group in the 4th quarter worth $57,000. Finally, Highlander Capital Management LLC increased its stake in shares of American International Group by 144.9% in the 4th quarter. Highlander Capital Management LLC now owns 845 shares of the insurance provider’s stock worth $57,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AIG. Piper Sandler raised their target price on American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Evercore ISI raised their target price 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. JPMorgan Chase & Co. raised their price objective on American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Citigroup raised their price objective on American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Wells Fargo & Company raised their price objective on American International Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $81.50.

Insider Activity

In other news, major shareholder International Group American sold 30,000,000 shares of American International Group stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $29.20, for a total value of $876,000,000.00. Following the completion of the transaction, the insider now owns 294,203,636 shares in the company, valued at approximately $8,590,746,171.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.61% of the company’s stock.

American International Group Stock Performance

NYSE AIG opened at $74.88 on Friday. The company has a market cap of $49.70 billion, a P/E ratio of 11.18, a P/E/G ratio of 2.04 and a beta of 1.08. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a 50-day moving average of $76.57 and a two-hundred day moving average of $72.83. American International Group, Inc. has a 1-year low of $54.84 and a 1-year high of $80.83.

American International Group (NYSE:AIG) last released its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share 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 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 EPS. As a group, analysts anticipate that American International Group, Inc. will post 7.02 EPS for the current year.

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is 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 presently 23.88%.

American International Group announced that its board has authorized a stock repurchase program on Wednesday, May 1st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the insurance provider to reacquire up to 19.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

About American International Group

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.