Wedmont Private Capital Acquires 365 Shares of American International Group, Inc. (NYSE:AIG)

Wedmont Private Capital lifted its holdings in shares of American International Group, Inc. (NYSE:AIGFree Report) by 3.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,913 shares of the insurance provider’s stock after acquiring an additional 365 shares during the quarter. Wedmont Private Capital’s holdings in American International Group were worth $900,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in AIG. Cox Capital Mgt LLC boosted its stake in American International Group by 18.9% in the 1st quarter. Cox Capital Mgt LLC now owns 14,342 shares of the insurance provider’s stock valued at $1,121,000 after purchasing an additional 2,283 shares during the period. Banque Cantonale Vaudoise grew its holdings in American International Group by 29.4% in the 1st quarter. Banque Cantonale Vaudoise now owns 14,310 shares of the insurance provider’s stock valued at $1,118,000 after buying an additional 3,255 shares in the last quarter. Czech National Bank grew its holdings in American International Group by 0.5% in the 1st quarter. Czech National Bank now owns 123,524 shares of the insurance provider’s stock valued at $9,656,000 after buying an additional 566 shares in the last quarter. Perpetual Ltd grew its holdings in American International Group by 2.8% in the 1st quarter. Perpetual Ltd now owns 444,507 shares of the insurance provider’s stock valued at $34,747,000 after buying an additional 11,936 shares in the last quarter. Finally, Rise Advisors LLC acquired a new position in American International Group in the 1st quarter valued at $29,000. 90.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling at American International Group

In other American International Group news, major shareholder International Group American sold 30,000,000 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $29.20, for a total value of $876,000,000.00. Following the completion of the transaction, the insider now directly owns 294,203,636 shares in the company, valued at $8,590,746,171.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.61% of the company’s stock.

American International Group Price Performance

Shares of AIG stock traded down $0.42 on Friday, hitting $74.46. 1,554,042 shares of the company’s stock were exchanged, compared to its average volume of 3,964,105. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.29 and a quick ratio of 0.29. American International Group, Inc. has a 12 month low of $54.84 and a 12 month high of $80.83. The stock has a market cap of $49.42 billion, a P/E ratio of 11.18, a price-to-earnings-growth ratio of 2.04 and a beta of 1.08. The company has a 50 day moving average of $76.57 and a 200 day moving average of $72.83.

American International Group (NYSE:AIGGet Free Report) last announced 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. The business had revenue of $12.58 billion during the quarter, compared to the consensus estimate 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 company earned $1.63 EPS. On average, equities research analysts predict that American International Group, Inc. will post 7.02 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 authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the insurance provider to purchase up to 19.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

American International Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.40 dividend. The ex-dividend date is Friday, June 14th. This is an increase from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 2.15%. American International Group’s dividend payout ratio (DPR) is currently 23.88%.

Wall Street Analyst Weigh In

AIG has been the topic of a number of research reports. HSBC lowered American International Group from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a report on Wednesday, May 15th. JPMorgan Chase & Co. upped their price objective on American International Group from $73.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Evercore ISI upped 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. Piper Sandler increased their target price on American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Finally, Citigroup increased their target price on American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, American International Group presently has an average rating of “Hold” and a consensus price target of $81.50.

Read Our Latest Report on AIG

American International Group Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for American International Group (NYSE:AIG)

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