American International Group, Inc. (NYSE:AIG) Shares Sold by Northern Trust Corp

Northern Trust Corp cut its holdings in American International Group, Inc. (NYSE:AIGFree Report) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,253,403 shares of the insurance provider’s stock after selling 457,905 shares during the quarter. Northern Trust Corp owned about 1.03% of American International Group worth $491,418,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Avantax Advisory Services Inc. grew its position in American International Group by 3.6% in the 3rd quarter. Avantax Advisory Services Inc. now owns 4,819 shares of the insurance provider’s stock valued at $292,000 after buying an additional 167 shares during the last quarter. Atria Wealth Solutions Inc. raised its holdings in American International Group by 15.7% during the third quarter. Atria Wealth Solutions Inc. now owns 20,590 shares of the insurance provider’s stock worth $1,248,000 after purchasing an additional 2,797 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in American International Group by 3.4% in the third quarter. Sequoia Financial Advisors LLC now owns 17,530 shares of the insurance provider’s stock valued at $1,062,000 after purchasing an additional 581 shares during the period. Pathstone Family Office LLC boosted its holdings in American International Group by 73.4% in the 3rd quarter. Pathstone Family Office LLC now owns 29,857 shares of the insurance provider’s stock valued at $1,811,000 after purchasing an additional 12,635 shares in the last quarter. Finally, HighTower Advisors LLC increased its position in American International Group by 4.6% during the 3rd quarter. HighTower Advisors LLC now owns 106,912 shares of the insurance provider’s stock worth $6,473,000 after purchasing an additional 4,726 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on AIG. HSBC cut American International Group from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a report on Wednesday, May 15th. JPMorgan Chase & Co. boosted their price objective on shares of American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Keefe, Bruyette & Woods increased their target price on shares of American International Group from $82.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. UBS Group lifted their price target on shares of American International Group from $83.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Finally, Morgan Stanley lifted their price objective on American International Group from $72.00 to $79.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $81.06.

Read Our Latest Research Report on American International Group

American International Group Trading Up 1.2 %

AIG traded up $0.89 during midday trading on Friday, hitting $76.51. The company’s stock had a trading volume of 496,776 shares, compared to its average volume of 3,942,499. American International Group, Inc. has a 52-week low of $54.84 and a 52-week high of $80.83. The firm has a 50-day moving average price of $77.04 and a two-hundred day moving average price of $72.17. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.05. The firm has a market cap of $50.78 billion, a P/E ratio of 11.29, a PEG ratio of 0.90 and a beta of 1.08.

American International Group (NYSE:AIGGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, topping the consensus estimate of $1.66 by $0.11. American International Group had a return on equity of 10.54% and a net margin of 9.98%. The company had revenue of $12.58 billion during the quarter, compared to analyst estimates of $12.04 billion. During the same period in the prior year, the firm posted $1.63 earnings per share. On average, research analysts anticipate that American International Group, Inc. will post 7.09 earnings per share for the current year.

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 paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. This is a positive change from American International Group’s previous quarterly dividend of $0.36. American International Group’s dividend payout ratio (DPR) is 21.49%.

American International Group declared that its Board of Directors has initiated a stock buyback program on Wednesday, May 1st that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the insurance provider to purchase up to 19.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, major shareholder International Group American sold 30,000,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $29.20, for a total transaction of $876,000,000.00. Following the completion of the sale, the insider now directly owns 294,203,636 shares of the company’s stock, valued at approximately $8,590,746,171.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, major shareholder International Group American sold 30,000,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $29.20, for a total transaction of $876,000,000.00. Following the completion of the sale, the insider now owns 294,203,636 shares of the company’s stock, valued at $8,590,746,171.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter Zaffino sold 333,000 shares of the company’s 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 sale, the chief executive officer now directly owns 505,420 shares in the company, valued at $38,346,215.40. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

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.

Further Reading

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

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