Janney Montgomery Scott LLC Takes Position in American International Group, Inc. (NYSE:AIG)

Janney Montgomery Scott LLC bought a new position in American International Group, Inc. (NYSE:AIGFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 131,986 shares of the insurance provider’s stock, valued at approximately $8,942,000.

A number of other hedge funds have also modified their holdings of the stock. Headlands Technologies LLC acquired a new position in American International Group in the 3rd quarter worth approximately $32,000. CNB Bank acquired a new stake in shares of American International Group in the third quarter worth $42,000. SouthState Corp boosted its position 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 worth $45,000 after buying an additional 217 shares during the period. Blue Trust Inc. grew its holdings in shares of American International Group by 41.7% during the fourth quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock valued at $53,000 after buying an additional 232 shares in the last quarter. Finally, Highlander Capital Management LLC raised its position in American International Group by 144.9% during the fourth quarter. Highlander Capital Management LLC now owns 845 shares of the insurance provider’s stock valued at $57,000 after buying an additional 500 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director John C. Inglis acquired 659 shares of the stock in a transaction dated Thursday, March 14th. The shares were acquired at an average price of $75.39 per share, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director John C. Inglis bought 659 shares of American International Group stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the purchase, 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 accessible through the SEC website. Also, CEO Peter Zaffino sold 333,000 shares of the business’s stock in a transaction dated 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 transaction, 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 owned by insiders.

Analyst Ratings Changes

AIG has been the subject of a number of research reports. Morgan Stanley raised 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. JPMorgan Chase & Co. boosted their price objective on shares of American International Group from $73.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. UBS Group increased their target price on shares of American International Group from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Wells Fargo & Company boosted their price target 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. Finally, Keefe, Bruyette & Woods increased their price objective on American International Group from $82.00 to $86.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, American International Group presently has an average rating of “Hold” and an average price target of $81.06.

View Our Latest Analysis on American International Group

American International Group Stock Up 2.3 %

Shares of American International Group stock opened at $80.54 on Friday. American International Group, Inc. has a 12-month low of $52.78 and a 12-month high of $80.83. The stock has a market capitalization of $53.45 billion, a P/E ratio of 12.02, a PEG ratio of 1.14 and a beta of 1.02. 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 50 day moving average price of $76.67 and a two-hundred day moving average price of $70.85.

American International Group (NYSE:AIGGet Free Report) last posted its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.11. The business had revenue of $12.58 billion for the quarter, compared to analyst estimates of $12.04 billion. American International Group had a net margin of 9.98% and a return on equity of 10.54%. During the same period last year, the business posted $1.63 EPS. Equities analysts expect that American International Group, Inc. will post 7.08 earnings per share for the current year.

American International Group announced that its board has authorized a share repurchase plan on Wednesday, May 1st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to purchase up to 19.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

American International Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.40 dividend. The ex-dividend date is Friday, June 14th. This is a positive change from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.99%. American International Group’s payout ratio is presently 21.49%.

About American International Group

(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

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

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