Savant Capital LLC Purchases 394 Shares of American International Group, Inc. (NYSE:AIG)

Savant Capital LLC raised its position in shares of American International Group, Inc. (NYSE:AIG) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,993 shares of the insurance provider’s stock after purchasing an additional 394 shares during the quarter. Savant Capital LLC’s holdings in American International Group were worth $1,016,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Invesco Ltd. increased 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 valued at $1,035,384,000 after buying an additional 503,547 shares during the last quarter. FMR LLC increased its stake 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 worth $772,352,000 after purchasing an additional 604,901 shares in the last quarter. Northern Trust Corp raised its holdings in American International Group by 1.8% in the 3rd quarter. Northern Trust Corp now owns 7,711,308 shares of the insurance provider’s stock worth $467,305,000 after purchasing an additional 133,828 shares during the period. LSV Asset Management lifted its position in American International Group by 13.2% during the third quarter. LSV Asset Management now owns 5,496,879 shares of the insurance provider’s stock valued at $333,111,000 after purchasing an additional 639,079 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in American International Group by 18.7% during 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 period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insider Activity at American International Group

In other American International Group news, CEO Peter Zaffino sold 333,000 shares of American International Group stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other American International Group news, Director John C. Inglis bought 659 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $75.39 per share, with a total value of $49,682.01. Following the completion of the purchase, the director now owns 659 shares in the company, valued at approximately $49,682.01. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $75.87, for a total value of $25,264,710.00. Following the completion of the sale, the chief executive officer now owns 505,420 shares in the company, valued at $38,346,215.40. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AIG has been the topic of several recent research reports. UBS Group raised their price objective on American International Group from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Bank of America downgraded shares of American International Group from a “buy” rating to a “neutral” rating and lifted their price target for the company from $75.00 to $77.00 in a report on Tuesday, February 20th. Morgan Stanley increased 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 research note on Monday, April 15th. Keefe, Bruyette & Woods lifted their target price on shares of American International Group from $82.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Finally, TD Cowen initiated coverage on shares of American International Group in a report on Wednesday, January 10th. They issued a “market perform” rating and a $78.00 target price for the company. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $80.44.

American International Group Stock Performance

Shares of NYSE:AIG opened at $78.48 on Friday. The firm has a fifty day simple moving average of $75.24 and a two-hundred day simple moving average of $69.36. American International Group, Inc. has a 52 week low of $48.95 and a 52 week high of $79.70. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $53.44 billion, a P/E ratio of 11.71, a PEG ratio of 1.09 and a beta of 1.02.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.11. American International Group had a net margin of 9.98% and a return on equity of 10.68%. The firm had revenue of $12.58 billion during the quarter, compared to the consensus estimate of $12.04 billion. During the same quarter last year, the firm earned $1.63 EPS. On average, analysts expect that American International Group, Inc. will post 6.95 earnings per share for the current fiscal year.

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

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. This is an increase from American International Group’s previous quarterly dividend of $0.36. American International Group’s payout ratio is currently 21.49%.

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.