American International Group, Inc. (NYSE:AIG) Shares Purchased by Truist Financial Corp

Truist Financial Corp lifted its stake in shares of American International Group, Inc. (NYSE:AIG) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,633 shares of the insurance provider’s stock after acquiring an additional 1,498 shares during the quarter. Truist Financial Corp’s holdings in American International Group were worth $4,705,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP raised its holdings in American International Group by 32.4% during the 3rd quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock worth $1,831,727,000 after buying an additional 6,119,996 shares during the period. Prana Capital Management LP raised its stake in American International Group by 280.5% during the 3rd quarter. Prana Capital Management LP now owns 1,888,072 shares of the insurance provider’s stock valued at $138,264,000 after purchasing an additional 1,391,859 shares during the period. Swedbank AB lifted its holdings in shares of American International Group by 70.6% in the fourth quarter. Swedbank AB now owns 2,127,688 shares of the insurance provider’s stock valued at $154,896,000 after purchasing an additional 880,625 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of American International Group by 5.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock worth $1,002,163,000 after buying an additional 722,237 shares during the period. Finally, Barclays PLC grew its holdings in shares of American International Group by 24.7% during the third quarter. Barclays PLC now owns 2,748,674 shares of the insurance provider’s stock valued at $201,286,000 after buying an additional 544,110 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on AIG. Wells Fargo & Company raised their price objective on American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods boosted their price target on American International Group from $87.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, February 14th. StockNews.com upgraded shares of American International Group from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and set a $87.00 target price on shares of American International Group in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. lowered their price target on American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $83.94.

American International Group Stock Up 0.6 %

AIG stock opened at $76.72 on Monday. The company has a market cap of $45.52 billion, a PE ratio of -36.88, a price-to-earnings-growth ratio of 1.00 and a beta of 1.05. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21. American International Group, Inc. has a twelve month low of $68.65 and a twelve month high of $80.83. The business’s 50-day simple moving average is $73.68 and its 200 day simple moving average is $74.54.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. On average, research analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.40 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. American International Group’s dividend payout ratio (DPR) is presently -76.92%.

Insider Transactions at American International Group

In related news, Director John G. Rice purchased 10,000 shares of American International Group stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average price of $77.00 per share, for a total transaction of $770,000.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $770,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.61% of the company’s stock.

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.