Axxcess Wealth Management LLC Has $1.65 Million Stock Holdings in American International Group, Inc. (NYSE:AIG)

Axxcess Wealth Management LLC lifted its holdings in American International Group, Inc. (NYSE:AIG) by 33.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 24,400 shares of the insurance provider’s stock after purchasing an additional 6,161 shares during the quarter. Axxcess Wealth Management LLC’s holdings in American International Group were worth $1,653,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. OFI Invest Asset Management bought a new stake in American International Group in the 3rd quarter valued at approximately $26,000. Headlands Technologies LLC bought a new stake in American International Group in the 3rd quarter valued at approximately $32,000. CNB Bank bought a new stake in American International Group in the 3rd quarter valued at approximately $42,000. SouthState Corp lifted its stake in American International Group by 41.7% in the 3rd quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock valued at $45,000 after acquiring an additional 217 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in American International Group by 41.7% in the 4th quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock valued at $53,000 after acquiring an additional 232 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Stock Performance

Shares of NYSE AIG opened at $79.21 on Monday. 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 stock’s fifty day moving average price is $75.39 and its two-hundred day moving average price is $69.56. American International Group, Inc. has a one year low of $51.86 and a one year high of $79.70. The firm has a market cap of $52.57 billion, a price-to-earnings ratio of 11.71, a P/E/G ratio of 1.11 and a beta of 1.02.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.11. The firm had revenue of $12.58 billion for 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 firm posted $1.63 EPS. On average, equities analysts forecast that American International Group, Inc. will post 7.05 EPS for the current year.

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

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.40 per share. 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 2.02%. The ex-dividend date of this dividend is Friday, June 14th. American International Group’s dividend payout ratio is 21.49%.

Insider Transactions at American International Group

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Citigroup upped their price objective on American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Royal Bank of Canada upped their price objective on 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 dropped their price objective on American International Group from $83.00 to $81.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Evercore ISI upped their price objective on American International Group from $80.00 to $81.00 and gave the stock an “in-line” rating in a research note on Friday. Finally, Morgan Stanley upped 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. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, American International Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.44.

About American International Group

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.