Ascent Group LLC Has $627,000 Stake in American International Group, Inc. (NYSE:AIG)

Ascent Group LLC decreased its holdings in American International Group, Inc. (NYSE:AIG) by 3.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,024 shares of the insurance provider’s stock after selling 289 shares during the period. Ascent Group LLC’s holdings in American International Group were worth $627,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in shares of American International Group in the 1st quarter valued at about $29,000. Valued Wealth Advisors LLC increased its holdings in American International Group by 303.3% in the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $29,000 after buying an additional 276 shares during the last quarter. CENTRAL TRUST Co increased its holdings in American International Group by 123.8% in the first quarter. CENTRAL TRUST Co now owns 452 shares of the insurance provider’s stock worth $35,000 after buying an additional 250 shares during the last quarter. Neo Ivy Capital Management acquired a new position in American International Group in the fourth quarter worth approximately $40,000. Finally, Scarborough Advisors LLC acquired a new position in American International Group in the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

Insiders Place Their Bets

In other American International Group news, major shareholder International Group American sold 1,932,609 shares of American International Group stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the sale, the insider now owns 292,271,027 shares in the company, valued at $8,534,313,988.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.61% of the company’s stock.

American International Group Stock Performance

Shares of AIG traded up $1.65 during mid-day trading on Tuesday, hitting $79.63. The company’s stock had a trading volume of 1,620,382 shares, compared to its average volume of 4,137,713. American International Group, Inc. has a one year low of $57.02 and a one year high of $80.83. 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 firm has a market capitalization of $52.85 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 2.55 and a beta of 1.08. The stock’s 50-day moving average is $76.10 and its two-hundred day moving average is $74.59.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.11. American International Group had a return on equity of 10.54% and a net margin of 9.98%. The company had revenue of $12.58 billion during the quarter, compared to analysts’ expectations of $12.04 billion. During the same period in the prior year, the business earned $1.63 earnings per share. As a group, sell-side analysts anticipate that American International Group, Inc. will post 6.4 EPS for the current year.

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

American International Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $0.40 dividend. This is a boost from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 2.01%. The ex-dividend date was Friday, June 14th. American International Group’s dividend payout ratio (DPR) is 23.88%.

Analysts Set New Price Targets

A number of equities analysts recently commented on AIG shares. Citigroup dropped their price objective on American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, July 23rd. Bank of America dropped their price objective on American International Group from $84.00 to $81.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Piper Sandler increased their price objective on American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Wells Fargo & Company increased their price objective on American International Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, May 10th. Finally, BMO Capital Markets increased their price target 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 equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $82.50.

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.