American International Group, Inc. (NYSE:AIG) Shares Sold by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. reduced its stake in shares of American International Group, Inc. (NYSE:AIG) by 9.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,315 shares of the insurance provider’s stock after selling 11,500 shares during the quarter. Levin Capital Strategies L.P.’s holdings in American International Group were worth $7,542,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AIG. OFI Invest Asset Management acquired a new stake in American International Group during the 3rd quarter worth $26,000. Headlands Technologies LLC purchased a new position in American International Group during the 3rd quarter worth $32,000. CNB Bank purchased a new position in American International Group during the 3rd quarter worth $42,000. SouthState Corp grew its position in American International Group by 41.7% during the 3rd quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 217 shares during the last quarter. Finally, Blue Trust Inc. grew its position in American International Group by 41.7% during the 4th quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock worth $53,000 after purchasing an additional 232 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Bank of America downgraded shares of American International Group from a “buy” rating to a “neutral” rating and lifted their target price for the company from $75.00 to $77.00 in a report on Tuesday, February 20th. Wells Fargo & Company lifted their target price on shares of American International Group from $74.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. BMO Capital Markets lowered their target price on shares of American International Group from $83.00 to $81.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Piper Sandler boosted their price objective on shares of American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Finally, Morgan Stanley boosted 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 report on Monday, April 15th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, American International Group presently has an average rating of “Moderate Buy” and a consensus target price of $80.38.

American International Group Trading Up 3.3 %

Shares of NYSE:AIG traded up $2.51 during trading on Thursday, reaching $78.32. The stock had a trading volume of 4,333,420 shares, compared to its average volume of 3,941,067. American International Group, Inc. has a fifty-two week low of $48.95 and a fifty-two 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 business has a fifty day moving average price of $75.10 and a 200-day moving average price of $69.30. The stock has a market cap of $53.33 billion, a P/E ratio of 15.63, a PEG ratio of 1.08 and a beta of 1.02.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, May 1st. 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 net margin of 7.78% and a return on equity of 10.68%. The firm had revenue of $12.58 billion during the quarter, compared to analyst estimates of $12.04 billion. During the same quarter in the prior year, the business posted $1.63 earnings per share. As a group, analysts anticipate that American International Group, Inc. will post 6.95 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend was Wednesday, March 13th. American International Group’s dividend payout ratio (DPR) is 28.86%.

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

Insiders Place Their Bets

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

American International Group Company Profile

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.