Mutual of America Capital Management LLC Has $7.20 Million Stock Holdings in American International Group, Inc. (NYSE:AIG)

Mutual of America Capital Management LLC lessened its position in shares of American International Group, Inc. (NYSE:AIG) by 2.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,045 shares of the insurance provider’s stock after selling 2,016 shares during the quarter. Mutual of America Capital Management LLC’s holdings in American International Group were worth $7,195,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in AIG. Nordea Investment Management AB increased its holdings in American International Group by 18.7% in the fourth quarter. Nordea Investment Management AB now owns 2,032,907 shares of the insurance provider’s stock valued at $138,014,000 after purchasing an additional 319,948 shares during the last quarter. American Century Companies Inc. increased its holdings in American International Group by 22.6% in the third quarter. American Century Companies Inc. now owns 422,852 shares of the insurance provider’s stock valued at $25,625,000 after purchasing an additional 77,874 shares during the last quarter. Essex Financial Services Inc. bought a new stake in American International Group in the fourth quarter valued at about $260,000. TCW Group Inc. bought a new stake in American International Group in the fourth quarter valued at about $724,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in American International Group in the fourth quarter valued at about $948,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 1,932,609 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total value of $56,432,182.80. Following the completion of the sale, the insider now directly owns 292,271,027 shares of the company’s stock, valued at approximately $8,534,313,988.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Evercore ISI lowered their price target 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. Piper Sandler increased their price target on American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $87.00 price objective on shares of American International Group in a research report on Thursday, June 27th. 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 report on Monday, April 15th. Finally, Bank of America upped their price objective on American International Group from $82.00 to $84.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 11th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $81.38.

American International Group Price Performance

Shares of AIG traded up $0.93 during midday trading on Monday, hitting $74.81. The company’s stock had a trading volume of 5,067,820 shares, compared to its average volume of 4,136,811. American International Group, Inc. has a one year low of $57.02 and a one year high of $80.83. The company’s fifty day simple moving average is $76.73 and its two-hundred day simple moving average is $73.65. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $49.65 billion, a price-to-earnings ratio of 11.17, a price-to-earnings-growth ratio of 2.03 and a beta of 1.08.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, beating 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 company had revenue of $12.58 billion for the quarter, compared to analyst estimates of $12.04 billion. During the same quarter last year, the company posted $1.63 EPS. As a group, equities analysts expect that American International Group, Inc. will post 7.02 earnings per share for the current fiscal year.

American International Group declared that its Board of Directors has authorized a share repurchase 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 reacquire up to 19.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

American International Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, June 14th. 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 2.14%. American International Group’s dividend payout ratio (DPR) is 23.88%.

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.