American International Group, Inc. (NYSE:AIG) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its holdings in American International Group, Inc. (NYSE:AIG) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 181,404 shares of the insurance provider’s stock after selling 8,111 shares during the quarter. Amalgamated Bank’s holdings in American International Group were worth $12,290,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. OFI Invest Asset Management purchased a new stake in shares of American International Group in the 3rd quarter valued at $26,000. Headlands Technologies LLC purchased a new stake in American International Group in the third quarter valued at $32,000. CNB Bank purchased a new stake in American International Group in the third quarter valued at $42,000. SouthState Corp grew its position in American International Group by 41.7% during the 3rd quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 217 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of American International Group by 41.7% during the 4th quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock valued at $53,000 after buying an additional 232 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other American International Group news, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.87, for a total value of $25,264,710.00. Following the completion of the sale, the chief executive officer now owns 505,420 shares in the company, valued at approximately $38,346,215.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Peter Zaffino sold 333,000 shares of American International Group stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the transaction, the chief executive officer now owns 505,420 shares in the company, valued at approximately $38,346,215.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John C. Inglis acquired 659 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $75.39 per share, with a total value of $49,682.01. Following the acquisition, the director now directly owns 659 shares of the company’s stock, valued at approximately $49,682.01. The disclosure for this purchase can be found here. 0.61% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AIG has been the topic of several analyst reports. Morgan Stanley raised their target price on American International Group from $72.00 to $79.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Wells Fargo & Company raised their price objective on shares of American International Group from $74.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 11th. TD Cowen began coverage on shares of American International Group in a research note on Wednesday, January 10th. They issued a “market perform” rating and a $78.00 target price for the company. JPMorgan Chase & Co. raised their price target on shares of American International Group from $73.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Piper Sandler upped their price objective on shares of American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, American International Group has an average rating of “Moderate Buy” and a consensus target price of $80.44.

American International Group Price Performance

Shares of NYSE AIG traded up $0.38 during midday trading on Friday, hitting $78.48. The stock had a trading volume of 6,715,711 shares, compared to its average volume of 3,941,598. 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 50 day simple moving average of $75.24 and a 200-day simple moving average of $69.36. The company has a market capitalization of $53.44 billion, a PE ratio of 11.71, a P/E/G ratio of 1.12 and a beta of 1.02. American International Group, Inc. has a 1 year low of $48.95 and a 1 year high of $79.70.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $1.77 EPS for the quarter, beating the consensus estimate of $1.66 by $0.11. American International Group had a return on equity of 10.68% and a net margin of 9.98%. The firm had revenue of $12.58 billion during the quarter, compared to the consensus estimate of $12.04 billion. During the same period in the prior year, the company earned $1.63 EPS. On average, sell-side analysts expect that American International Group, Inc. will post 6.95 EPS for the current fiscal year.

American International Group announced that its board has approved a stock buyback plan on Wednesday, May 1st that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 19.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

American International Group Increases Dividend

The firm also recently declared 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 is an increase from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Friday, June 14th. American International Group’s dividend payout ratio (DPR) is currently 21.49%.

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.