Mather Group LLC. Acquires 1,100 Shares of American International Group, Inc. (NYSE:AIG)

Mather Group LLC. boosted its holdings in shares of American International Group, Inc. (NYSE:AIG) by 12.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,016 shares of the insurance provider’s stock after acquiring an additional 1,100 shares during the period. Mather Group LLC.’s holdings in American International Group were worth $679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. OFI Invest Asset Management bought a new stake in shares of American International Group in the 3rd quarter valued at about $26,000. Headlands Technologies LLC bought a new stake in shares of American International Group in the 3rd quarter valued at about $32,000. CNB Bank bought a new stake in shares of American International Group in the 3rd quarter valued at about $42,000. SouthState Corp boosted its holdings in shares of American International Group by 41.7% in the 3rd quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock valued at $45,000 after buying an additional 217 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of American International Group by 41.7% in the 4th quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock valued at $53,000 after buying an additional 232 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Peter Zaffino sold 333,000 shares of American International Group 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 transaction, 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 SEC, which is available through the SEC website. In related news, CEO Peter Zaffino sold 333,000 shares of American International Group 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 sale, the chief executive officer now owns 505,420 shares of the company’s stock, valued at approximately $38,346,215.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John C. Inglis purchased 659 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the purchase, the director now directly 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.

Analyst Upgrades and Downgrades

AIG has been the topic of a number of recent analyst reports. TD Cowen initiated coverage on shares of American International Group in a report on Wednesday, January 10th. They issued a “market perform” rating and a $78.00 price target on the stock. Keefe, Bruyette & Woods increased their price objective on shares of American International Group from $82.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Wells Fargo & Company increased their price objective on shares of American International Group from $74.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Morgan Stanley increased their price objective 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. Finally, JPMorgan Chase & Co. increased their price objective on shares of American International Group from $73.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.38.

American International Group Price Performance

NYSE:AIG opened at $75.83 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market cap of $51.64 billion, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 1.09 and a beta of 1.03. The company has a 50 day moving average price of $75.10 and a 200-day moving average price of $69.30. American International Group, Inc. has a 1-year low of $48.95 and a 1-year high of $78.95.

American International Group (NYSE:AIG) last posted its earnings results on Wednesday, May 1st. 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 net margin of 7.78% and a return on equity of 10.68%. During the same quarter last year, the business posted $1.63 earnings per share. Equities research analysts forecast that American International Group, Inc. will post 6.95 EPS for the current year.

American International Group announced that its board has initiated a share 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 buy up to 19.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Wednesday, March 13th. American International Group’s dividend payout ratio (DPR) is 28.86%.

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.