Dai ichi Life Insurance Company Ltd Sells 18,000 Shares of American International Group, Inc. (NYSE:AIG)

Dai ichi Life Insurance Company Ltd lessened its position in American International Group, Inc. (NYSE:AIG) by 64.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,762 shares of the insurance provider’s stock after selling 18,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in American International Group were worth $661,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of AIG. Invesco Ltd. lifted its holdings in American International Group by 3.0% during the third quarter. Invesco Ltd. now owns 17,085,545 shares of the insurance provider’s stock worth $1,035,384,000 after acquiring an additional 503,547 shares in the last quarter. FMR LLC grew its position in shares of American International Group by 5.0% in the 3rd quarter. FMR LLC now owns 12,745,085 shares of the insurance provider’s stock valued at $772,352,000 after purchasing an additional 604,901 shares during the period. Norges Bank bought a new stake in American International Group during the 4th quarter worth approximately $746,005,000. Northern Trust Corp raised its holdings in American International Group by 1.8% during the 3rd quarter. Northern Trust Corp now owns 7,711,308 shares of the insurance provider’s stock worth $467,305,000 after buying an additional 133,828 shares during the period. Finally, LSV Asset Management lifted its stake in American International Group by 5.3% in the fourth 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 in the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Stock Performance

NYSE AIG traded up $0.45 on Friday, reaching $78.03. The stock had a trading volume of 2,045,776 shares, compared to its average volume of 4,205,354. American International Group, Inc. has a 1-year low of $52.78 and a 1-year high of $80.83. 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 company has a market cap of $51.79 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 0.93 and a beta of 1.02. The firm has a fifty day moving average of $76.94 and a two-hundred day moving average of $71.31.

American International Group (NYSE:AIG) last issued its quarterly earnings data 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 net margin of 9.98% and a return on equity of 10.54%. The business 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 company earned $1.63 EPS. On average, equities research analysts anticipate that American International Group, Inc. will post 7.08 EPS for the current year.

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

American International Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.05%. This is an increase from American International Group’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, June 14th. American International Group’s dividend payout ratio is presently 21.49%.

Insider Activity

In other American International Group news, Director John C. Inglis bought 659 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the purchase, the director now directly owns 659 shares of the company’s stock, valued at $49,682.01. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other American International Group news, Director John C. Inglis bought 659 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

AIG has been the topic of a number of research analyst reports. Morgan Stanley raised their price objective on shares of 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 lifted their target price on American International Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, May 10th. HSBC downgraded American International Group from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a research note on Wednesday, May 15th. BMO Capital Markets upped their price objective on American International Group from $88.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday, May 13th. Finally, Evercore ISI increased their price objective on American International Group from $80.00 to $81.00 and gave the company an “in-line” rating in a report on Friday, May 3rd. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $81.06.

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.