Perpetual Ltd Raises Stock Holdings in American International Group, Inc. (NYSE:AIG)

Perpetual Ltd lifted its holdings in shares of American International Group, Inc. (NYSE:AIG) by 2.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 444,507 shares of the insurance provider’s stock after purchasing an additional 11,936 shares during the quarter. Perpetual Ltd owned 0.07% of American International Group worth $34,747,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Rise Advisors LLC purchased a new position in shares of American International Group during the first quarter worth about $29,000. Abner Herrman & Brock LLC lifted its position in American International Group by 123.7% in the 1st quarter. Abner Herrman & Brock LLC now owns 137,366 shares of the insurance provider’s stock worth $10,738,000 after buying an additional 75,957 shares during the last quarter. Ferguson Wellman Capital Management Inc. lifted its position in American International Group by 2.2% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 698,042 shares of the insurance provider’s stock worth $54,566,000 after buying an additional 15,141 shares during the last quarter. GAMMA Investing LLC lifted its position in American International Group by 14.2% in the 1st quarter. GAMMA Investing LLC now owns 6,752 shares of the insurance provider’s stock worth $528,000 after buying an additional 840 shares during the last quarter. Finally, CWM LLC lifted its position in American International Group by 10.1% in the 1st quarter. CWM LLC now owns 12,115 shares of the insurance provider’s stock worth $947,000 after buying an additional 1,115 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder International Group American sold 30,000,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $29.20, for a total value of $876,000,000.00. Following the sale, the insider now directly owns 294,203,636 shares of the company’s stock, valued at $8,590,746,171.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AIG. Morgan Stanley boosted their target price 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. BMO Capital Markets boosted their target price on American International Group from $88.00 to $89.00 and gave the stock an “outperform” rating in a research report on Monday, May 13th. JPMorgan Chase & Co. boosted their target price on American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Citigroup boosted their price objective on American International Group from $79.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Piper Sandler boosted their price objective on American International Group from $87.00 to $89.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $81.50.

American International Group Trading Up 1.0 %

Shares of American International Group stock traded up $0.75 during midday trading on Thursday, reaching $74.88. 3,782,813 shares of the company’s stock traded hands, compared to its average volume of 3,985,153. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market cap of $49.70 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 2.04 and a beta of 1.08. The stock has a 50 day moving average of $76.56 and a 200-day moving average of $72.82. American International Group, Inc. has a 12 month low of $54.84 and a 12 month high of $80.83.

American International Group (NYSE:AIG) last announced its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.11. The company had revenue of $12.58 billion during the quarter, compared to the consensus estimate of $12.04 billion. American International Group had a return on equity of 10.54% and a net margin of 9.98%. During the same quarter in the prior year, the company earned $1.63 earnings per share. As a group, equities analysts expect that American International Group, Inc. will post 7.02 EPS for the current fiscal year.

American International Group announced that its board has approved a share repurchase program on Wednesday, May 1st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 19.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

American International Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.14%. This is a boost from American International Group’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, June 14th. American International Group’s dividend payout ratio is presently 23.88%.

American International Group 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.