Valeo Financial Advisors LLC Has $1.22 Million Stock Position in American International Group, Inc. (NYSE:AIG)

Valeo Financial Advisors LLC lowered its stake in shares of American International Group, Inc. (NYSE:AIG) by 3.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 15,636 shares of the insurance provider’s stock after selling 638 shares during the quarter. Valeo Financial Advisors LLC’s holdings in American International Group were worth $1,222,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Verum Partners LLC bought a new stake in shares of American International Group during the first quarter worth about $227,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in shares of American International Group by 2.3% during the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 594,793 shares of the insurance provider’s stock worth $46,495,000 after acquiring an additional 13,554 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of American International Group by 13.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 627,917 shares of the insurance provider’s stock worth $49,084,000 after acquiring an additional 72,487 shares in the last quarter. Koss Olinger Consulting LLC bought a new stake in shares of American International Group during the first quarter worth about $8,831,000. Finally, Optas LLC bought a new stake in shares of American International Group during the first quarter worth about $230,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

Insider Activity at American International Group

In other American International Group news, major shareholder International Group American sold 1,932,609 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total value of $56,432,182.80. Following the sale, the insider now directly owns 292,271,027 shares in the company, valued at approximately $8,534,313,988.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

American International Group Stock Performance

Shares of AIG stock traded down $0.18 during trading on Wednesday, reaching $75.15. 2,332,170 shares of the company’s stock traded hands, compared to its average volume of 4,134,540. The company has a market capitalization of $49.87 billion, a P/E ratio of 11.29, a PEG ratio of 2.04 and a beta of 1.08. 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’s 50-day moving average is $76.74 and its 200 day moving average is $73.42. American International Group, Inc. has a 1 year low of $56.88 and a 1 year high of $80.83.

American International Group (NYSE:AIG) last announced its quarterly 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 for the quarter, compared to analysts’ expectations of $12.04 billion. American International Group had a net margin of 9.98% and a return on equity of 10.54%. During the same period in the prior year, the company posted $1.63 EPS. Equities research analysts expect that American International Group, Inc. will post 7.02 EPS for the current year.

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

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.40 per share. This is a boost 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 2.13%. The ex-dividend date was Friday, June 14th. American International Group’s dividend payout ratio is presently 23.88%.

Wall Street Analysts Forecast Growth

AIG has been the subject of several recent research reports. BMO Capital Markets boosted their target price on shares of American International Group from $88.00 to $89.00 and gave the stock an “outperform” rating in a research report on Monday, May 13th. Citigroup upped their price objective on shares of American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Evercore ISI reduced their price objective on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, June 27th. Wells Fargo & Company upped their price objective on shares of American International Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Finally, HSBC downgraded shares of American International Group from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a research report on Wednesday, May 15th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $81.38.

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.