American International Group, Inc. (NYSE:AIG) Shares Bought by Procyon Advisors LLC

Procyon Advisors LLC raised its position in American International Group, Inc. (NYSE:AIG) by 15.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,576 shares of the insurance provider’s stock after purchasing an additional 2,306 shares during the quarter. Procyon Advisors LLC’s holdings in American International Group were worth $1,191,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. OFI Invest Asset Management bought a new position in shares of American International Group in the third quarter valued at approximately $26,000. Headlands Technologies LLC bought a new stake in American International Group during the third quarter worth approximately $32,000. CNB Bank bought a new stake in American International Group during the third quarter worth approximately $42,000. SouthState Corp boosted its holdings in American International Group by 41.7% during the third quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock worth $45,000 after buying an additional 217 shares in the last quarter. Finally, Macroview Investment Management LLC boosted its holdings in American International Group by 48,800.0% during the third quarter. Macroview Investment Management LLC now owns 978 shares of the insurance provider’s stock worth $59,000 after buying an additional 976 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AIG. Wells Fargo & Company raised their price objective on shares of American International Group from $66.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 21st. Royal Bank of Canada raised their price objective on shares of American International Group from $76.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. BMO Capital Markets cut their target price on shares of American International Group from $83.00 to $81.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. UBS Group increased their target price on shares of American International Group from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Finally, TD Cowen began coverage on shares of American International Group in a research report on Wednesday, January 10th. They issued a “market perform” rating and a $78.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.06.

Insiders Place Their Bets

In related news, Director John C. Inglis bought 659 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was bought at an average cost of $75.39 per share, with a total value of $49,682.01. Following the completion of the purchase, the director now owns 659 shares in the company, valued at approximately $49,682.01. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Peter Zaffino sold 333,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were 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 owns 505,420 shares in the company, valued at $38,346,215.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John C. Inglis acquired 659 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average price of $75.39 per share, with a total value 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 disclosure for this purchase can be found here. Insiders own 0.49% of the company’s stock.

American International Group Stock Performance

NYSE AIG traded up $0.19 during midday trading on Thursday, hitting $78.53. The company had a trading volume of 342,407 shares, compared to its average volume of 3,957,608. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.44. The stock has a market cap of $53.48 billion, a price-to-earnings ratio of 15.73, a P/E/G ratio of 1.09 and a beta of 1.02. The firm has a fifty day simple moving average of $71.72 and a two-hundred day simple moving average of $66.67. American International Group, Inc. has a fifty-two week low of $47.99 and a fifty-two week high of $78.70.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.20. American International Group had a net margin of 7.78% and a return on equity of 10.68%. The company had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.61 billion. During the same period last year, the business posted $1.36 EPS. The business’s quarterly revenue was up .0% on a year-over-year basis. Equities analysts forecast that American International Group, Inc. will post 7.1 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Wednesday, March 13th. American International Group’s dividend payout ratio is presently 28.86%.

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.