DekaBank Deutsche Girozentrale Grows Stock Position in American International Group, Inc. (NYSE:AIG)

DekaBank Deutsche Girozentrale grew its stake in American International Group, Inc. (NYSE:AIG) by 8.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 142,369 shares of the insurance provider’s stock after buying an additional 10,581 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in American International Group were worth $11,081,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in AIG. Soltis Investment Advisors LLC increased its stake in American International Group by 12.9% in the first quarter. Soltis Investment Advisors LLC now owns 63,177 shares of the insurance provider’s stock valued at $4,939,000 after purchasing an additional 7,212 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of American International Group by 431.8% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 333,587 shares of the insurance provider’s stock valued at $26,076,000 after acquiring an additional 270,857 shares during the period. Cetera Advisors LLC raised its position in American International Group by 80.9% in the 1st quarter. Cetera Advisors LLC now owns 9,224 shares of the insurance provider’s stock valued at $721,000 after purchasing an additional 4,124 shares during the last quarter. Cetera Investment Advisers grew its position in American International Group by 348.6% during the 1st quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock worth $4,506,000 after purchasing an additional 44,797 shares during the last quarter. Finally, PGGM Investments increased its stake in American International Group by 18.6% in the first quarter. PGGM Investments now owns 139,919 shares of the insurance provider’s stock valued at $10,937,000 after purchasing an additional 21,992 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder International Group American sold 1,932,609 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the completion of the sale, the insider now directly owns 292,271,027 shares in the company, valued at $8,534,313,988.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, major shareholder International Group American sold 1,932,609 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were 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 in the company, valued at $8,534,313,988.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director W Don Cornwell 1,000 shares of the stock in a transaction on Tuesday, July 30th. The disclosure for this trade can be found here. 0.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AIG. Piper Sandler lowered their price target on American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday. Morgan Stanley cut their price target on American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Evercore ISI lowered their price objective on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, June 27th. Royal Bank of Canada restated an “outperform” rating and set a $87.00 price objective on shares of American International Group in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company lifted their target price on shares of American International Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, American International Group presently has an average rating of “Hold” and an average target price of $82.38.

American International Group Stock Performance

Shares of NYSE:AIG traded down $2.94 on Friday, reaching $71.97. 7,453,145 shares of the company’s stock were exchanged, compared to its average volume of 4,655,245. American International Group, Inc. has a fifty-two week low of $57.02 and a fifty-two week high of $80.83. The business’s 50-day moving average is $75.93 and its two-hundred day moving average is $74.79. 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 firm has a market capitalization of $47.76 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 2.48 and a beta of 1.07.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). The company had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.64 billion. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.37%. The business’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.75 earnings per share. As a group, equities research analysts forecast that American International Group, Inc. will post 6.4 EPS for the current year.

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

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.22%. American International Group’s payout ratio is 23.88%.

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.