Allspring Global Investments Holdings LLC Increases Holdings in American International Group, Inc. (NYSE:AIG)

Allspring Global Investments Holdings LLC boosted its position in American International Group, Inc. (NYSE:AIG) by 13.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 627,917 shares of the insurance provider’s stock after buying an additional 72,487 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.09% of American International Group worth $49,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Capital Research Global Investors grew its position in American International Group by 0.4% during the 4th quarter. Capital Research Global Investors now owns 41,770,175 shares of the insurance provider’s stock worth $2,829,930,000 after acquiring an additional 176,286 shares during the last quarter. Norges Bank purchased a new position in shares of American International Group in the fourth quarter worth $746,005,000. Putnam Investments LLC raised its holdings in American International Group by 3.8% during the 4th quarter. Putnam Investments LLC now owns 8,245,693 shares of the insurance provider’s stock valued at $558,646,000 after buying an additional 300,712 shares during the last quarter. LSV Asset Management boosted its position in American International Group by 5.3% during 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 during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in American International Group by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,395,566 shares of the insurance provider’s stock worth $297,800,000 after acquiring an additional 32,065 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Price Performance

Shares of NYSE AIG opened at $75.15 on Thursday. The company has a 50 day moving average of $76.74 and a 200 day moving average of $73.42. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05. American International Group, Inc. has a twelve month low of $56.88 and a twelve month high of $80.83. The firm has a market cap of $49.87 billion, a P/E ratio of 11.29, a PEG ratio of 2.04 and a beta of 1.08.

American International Group (NYSE:AIG) last posted its quarterly earnings results 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. American International Group had a return on equity of 10.54% and a net margin of 9.98%. The firm had revenue of $12.58 billion during the quarter, compared to analysts’ expectations of $12.04 billion. During the same quarter in the previous year, the business earned $1.63 earnings per share. As a group, research analysts expect that American International Group, Inc. will post 7.02 EPS for the current fiscal year.

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date was 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 presently 23.88%.

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

Wall Street Analysts Forecast Growth

AIG has been the subject of a number of analyst reports. BMO Capital Markets increased their target price on shares of American International Group from $88.00 to $89.00 and gave the stock an “outperform” rating in a report on Monday, May 13th. HSBC lowered American International Group from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a research report on Wednesday, May 15th. Evercore ISI decreased their target price on American International Group from $81.00 to $78.00 and set an “in-line” rating for the company in a report on Thursday, June 27th. Wells Fargo & Company lifted their price target on shares of American International Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $87.00 price objective on shares of American International Group in a research report on Thursday, June 27th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, American International Group has an average rating of “Hold” and a consensus price target of $81.38.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 1,932,609 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were 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 in the company, valued at $8,534,313,988.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.61% of the company’s stock.

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.