NFC Investments LLC Makes New $6.94 Million Investment in American International Group, Inc. (NYSE:AIG)

NFC Investments LLC purchased a new stake in American International Group, Inc. (NYSE:AIGFree Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 102,438 shares of the insurance provider’s stock, valued at approximately $6,940,000. American International Group makes up 2.1% of NFC Investments LLC’s holdings, making the stock its 18th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Kentucky Retirement Systems Insurance Trust Fund grew its position in American International Group by 0.6% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 25,011 shares of the insurance provider’s stock worth $1,694,000 after purchasing an additional 154 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its position in shares of American International Group by 0.9% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 18,553 shares of the insurance provider’s stock valued at $1,257,000 after acquiring an additional 157 shares during the period. Meeder Advisory Services Inc. increased its position in shares of American International Group by 1.3% in the 3rd quarter. Meeder Advisory Services Inc. now owns 12,808 shares of the insurance provider’s stock valued at $776,000 after acquiring an additional 162 shares during the period. Avantax Advisory Services Inc. grew its stake in American International Group by 3.6% during the 3rd quarter. Avantax Advisory Services Inc. now owns 4,819 shares of the insurance provider’s stock valued at $292,000 after purchasing an additional 167 shares during the last quarter. Finally, Lindbrook Capital LLC increased its holdings in shares of American International Group by 2.7% in the fourth quarter. Lindbrook Capital LLC now owns 6,764 shares of the insurance provider’s stock valued at $458,000 after purchasing an additional 176 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on AIG. HSBC lowered American International Group from a “buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a research report on Wednesday. UBS Group increased their price objective on shares of American International Group from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Morgan Stanley boosted their target price on shares of American International Group from $72.00 to $79.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods increased their price target on American International Group from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Finally, BMO Capital Markets boosted their price objective on American International Group from $88.00 to $89.00 and gave the company an “outperform” rating in a report on Monday, May 13th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $81.06.

Check Out Our Latest Research Report on AIG

American International Group Price Performance

Shares of NYSE AIG traded up $1.80 during midday trading on Friday, hitting $80.54. The stock had a trading volume of 6,778,781 shares, compared to its average volume of 3,959,874. 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 simple moving average of $76.67 and a 200-day simple moving average of $70.91. The company has a market capitalization of $53.45 billion, a PE ratio of 12.02, a P/E/G ratio of 1.14 and a beta of 1.02. American International Group, Inc. has a 1 year low of $52.78 and a 1 year high of $80.83.

American International Group (NYSE:AIGGet Free Report) last released its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, topping 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 10.54%. The business 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 firm earned $1.63 earnings per share. On average, sell-side analysts expect that American International Group, Inc. will post 7.08 EPS for the current fiscal year.

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given 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 dividend payout ratio is 21.49%.

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

Insider Activity at American International Group

In related news, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction dated 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 document filed with the SEC, which is available through the SEC website. In other 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 value of $25,264,710.00. Following the sale, the chief executive officer now directly owns 505,420 shares of the company’s stock, valued at approximately $38,346,215.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John C. Inglis acquired 659 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the acquisition, the director now owns 659 shares in the company, valued at approximately $49,682.01. The disclosure for this purchase can be found here. Insiders own 0.61% of the company’s stock.

American International Group Profile

(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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