MV Capital Management Inc. Has $202,000 Position in American International Group, Inc. (NYSE:AIG)

MV Capital Management Inc. cut its holdings in American International Group, Inc. (NYSE:AIG) by 21.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,587 shares of the insurance provider’s stock after selling 724 shares during the quarter. MV Capital Management Inc.’s holdings in American International Group were worth $202,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AIG. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in American International Group by 0.6% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 25,011 shares of the insurance provider’s stock worth $1,694,000 after purchasing an additional 154 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in shares of American International Group by 0.9% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 18,553 shares of the insurance provider’s stock valued at $1,257,000 after acquiring an additional 157 shares during the last quarter. Lindbrook Capital LLC raised its stake in shares of American International Group by 2.7% in the 4th quarter. Lindbrook Capital LLC now owns 6,764 shares of the insurance provider’s stock valued at $458,000 after acquiring an additional 176 shares in the last quarter. Aspiriant LLC lifted its holdings in American International Group by 3.4% in the 4th quarter. Aspiriant LLC now owns 5,417 shares of the insurance provider’s stock worth $367,000 after purchasing an additional 178 shares during the last quarter. Finally, BSW Wealth Partners boosted its position in American International Group by 3.4% during the fourth quarter. BSW Wealth Partners now owns 5,460 shares of the insurance provider’s stock worth $370,000 after purchasing an additional 180 shares during the period. 90.60% of the stock is owned by institutional investors.

American International Group Stock Up 1.2 %

AIG opened at $75.35 on Wednesday. The company has a market capitalization of $50.01 billion, a P/E ratio of 11.24, 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 firm’s fifty day moving average price is $76.74 and its two-hundred day moving average price is $73.35. American International Group, Inc. has a fifty-two week low of $56.88 and a fifty-two week high of $80.83.

American International Group (NYSE:AIG) last issued 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 business had revenue of $12.58 billion for the quarter, compared to analyst estimates 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 period in the previous year, the business earned $1.63 EPS. On average, 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 was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.40 dividend. This is a positive change from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Friday, June 14th. American International Group’s dividend payout ratio is currently 23.88%.

American International Group announced that its Board of Directors has authorized a stock buyback 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 shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have recently commented on AIG shares. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $87.00 price target on shares of American International Group in a research report on Thursday, June 27th. Wells Fargo & Company boosted their target price on shares of 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. Piper Sandler upped their price target on shares of American International Group from $87.00 to $89.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Evercore ISI dropped their price objective on American International Group from $81.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday, June 27th. Finally, 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 report on Monday, April 15th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $81.38.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 1,932,609 shares of the business’s stock in a transaction on 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 owns 292,271,027 shares of the company’s stock, valued at approximately $8,534,313,988.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.61% of the stock is currently owned by insiders.

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.