Aspiriant LLC Reduces Stock Position in American International Group, Inc. (NYSE:AIG)

Aspiriant LLC lessened its position in shares of American International Group, Inc. (NYSE:AIG) by 10.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,845 shares of the insurance provider’s stock after selling 572 shares during the quarter. Aspiriant LLC’s holdings in American International Group were worth $379,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Brookstone Capital Management lifted its holdings in shares of American International Group by 8.4% in the 1st quarter. Brookstone Capital Management now owns 6,043 shares of the insurance provider’s stock valued at $472,000 after buying an additional 470 shares during the period. Wallace Advisory Group LLC lifted its holdings in shares of American International Group by 6.9% in the 1st quarter. Wallace Advisory Group LLC now owns 5,294 shares of the insurance provider’s stock valued at $414,000 after buying an additional 343 shares during the period. Rockland Trust Co. lifted its holdings in shares of American International Group by 1.6% in the 1st quarter. Rockland Trust Co. now owns 105,501 shares of the insurance provider’s stock valued at $8,247,000 after buying an additional 1,688 shares during the period. Gulf International Bank UK Ltd lifted its holdings in shares of American International Group by 0.6% in the 1st quarter. Gulf International Bank UK Ltd now owns 59,701 shares of the insurance provider’s stock valued at $4,666,000 after buying an additional 333 shares during the period. Finally, CHURCHILL MANAGEMENT Corp acquired a new position in shares of American International Group in the 1st quarter valued at about $12,248,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Trading Up 0.6 %

Shares of American International Group stock opened at $74.97 on Friday. The firm has a market capitalization of $49.76 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 2.05 and a beta of 1.08. American International Group, Inc. has a fifty-two week low of $55.68 and a fifty-two week high of $80.83. 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 50 day moving average of $76.71 and a 200 day moving average of $73.14.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.11. The company had revenue of $12.58 billion during the quarter, compared to analyst estimates 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 prior year, the business posted $1.63 earnings per share. As a group, research analysts predict that American International Group, Inc. will post 7.02 earnings per share for the current year.

American International Group declared that its board has approved a share repurchase program on Wednesday, May 1st that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the insurance provider to purchase up to 19.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

American International Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.13%. This is a boost from American International Group’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, June 14th. American International Group’s dividend payout ratio is 23.88%.

Insiders Place Their Bets

In other American International Group news, major shareholder International Group American sold 30,000,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $29.20, for a total transaction of $876,000,000.00. Following the transaction, the insider now directly owns 294,203,636 shares in the company, valued at $8,590,746,171.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AIG has been the subject of several analyst reports. Bank of America boosted their price objective on American International Group from $82.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, June 11th. Citigroup upped their price target on American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. HSBC lowered American International Group from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a research note on Wednesday, May 15th. Morgan Stanley boosted their price objective on American International Group from $72.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $87.00 price objective on shares of American International Group in a research note on Thursday. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $81.38.

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.