American International Group, Inc. (NYSE:AIG) Shares Bought by Procyon Advisors LLC

Procyon Advisors LLC raised its position in American International Group, Inc. (NYSE:AIG) by 15.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 17,576 shares of the insurance provider’s stock after acquiring an additional 2,306 shares during the quarter. Procyon Advisors LLC’s holdings in American International Group were worth $1,191,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in shares of American International Group in the third quarter valued at approximately $26,000. Headlands Technologies LLC acquired a new stake in shares of American International Group in the third quarter valued at approximately $32,000. CNB Bank acquired a new stake in shares of American International Group in the third quarter valued at approximately $42,000. SouthState Corp boosted its holdings in shares of American International Group by 41.7% in the third 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, Macroview Investment Management LLC boosted its holdings in shares of American International Group by 48,800.0% in the third quarter. Macroview Investment Management LLC now owns 978 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 976 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Insiders Place Their Bets

In other American International Group news, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 505,420 shares in the company, valued at approximately $38,346,215.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other American International Group news, Director John C. Inglis bought 659 shares of the firm’s stock in a transaction dated 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 owns 659 shares in the company, valued at $49,682.01. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Peter Zaffino sold 333,000 shares of American International Group stock in a transaction dated Friday, March 15th. The shares were 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 directly owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.

Analyst Ratings Changes

AIG has been the subject of several recent analyst reports. Royal Bank of Canada increased their price objective on shares of American International Group from $76.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. TD Cowen began coverage on shares of American International Group in a report on Wednesday, January 10th. They set a “market perform” rating and a $78.00 target price for the company. BMO Capital Markets decreased their price objective on shares of American International Group from $83.00 to $81.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Wells Fargo & Company raised their price objective on shares of American International Group from $66.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 21st. Finally, HSBC began coverage on shares of American International Group in a research report on Thursday, December 28th. They issued a “buy” rating and a $86.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.06.

American International Group Stock Performance

NYSE:AIG traded up $0.19 during midday trading on Thursday, reaching $78.53. The stock had a trading volume of 342,407 shares, compared to its average volume of 3,957,608. American International Group, Inc. has a 1-year low of $47.99 and a 1-year high of $78.70. The firm’s fifty day simple moving average is $71.72 and its 200-day simple moving average is $66.67. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market capitalization of $53.48 billion, a P/E ratio of 15.73, a PEG ratio of 1.09 and a beta of 1.02.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.20. The company had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.61 billion. American International Group had a net margin of 7.78% and a return on equity of 10.68%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the business posted $1.36 EPS. On average, equities research analysts forecast that American International Group, Inc. will post 7.1 EPS for the current fiscal year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th will be given a $0.36 dividend. The ex-dividend date is Wednesday, March 13th. This represents a $1.44 annualized dividend and a yield of 1.83%. American International Group’s dividend payout ratio is 28.86%.

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.