Savant Capital LLC Boosts Stake in American International Group, Inc. (NYSE:AIG)

Savant Capital LLC increased its holdings in shares of American International Group, Inc. (NYSE:AIG) by 2.7% in the fourth quarter, Holdings Channel reports. The firm owned 14,993 shares of the insurance provider’s stock after buying an additional 394 shares during the period. Savant Capital LLC’s holdings in American International Group were worth $1,016,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Invesco Ltd. lifted its holdings in shares of American International Group by 3.0% in the 3rd quarter. Invesco Ltd. now owns 17,085,545 shares of the insurance provider’s stock worth $1,035,384,000 after acquiring an additional 503,547 shares during the last quarter. FMR LLC raised its holdings in shares of American International Group by 5.0% in the 3rd quarter. FMR LLC now owns 12,745,085 shares of the insurance provider’s stock valued at $772,352,000 after buying an additional 604,901 shares during the period. Northern Trust Corp lifted its stake in American International Group by 1.8% during the 3rd quarter. Northern Trust Corp now owns 7,711,308 shares of the insurance provider’s stock worth $467,305,000 after acquiring an additional 133,828 shares in the last quarter. LSV Asset Management increased its stake in American International Group by 13.2% during the third quarter. LSV Asset Management now owns 5,496,879 shares of the insurance provider’s stock worth $333,111,000 after purchasing an additional 639,079 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of American International Group by 18.7% in the fourth quarter. Nordea Investment Management AB now owns 2,032,907 shares of the insurance provider’s stock valued at $138,014,000 after purchasing an additional 319,948 shares during the period. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Price Performance

American International Group stock opened at $78.48 on Friday. 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 business has a 50 day simple moving average of $75.24 and a 200-day simple moving average of $69.36. American International Group, Inc. has a 12 month low of $48.95 and a 12 month high of $79.70. The stock has a market capitalization of $53.44 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 1.09 and a beta of 1.02.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $1.77 EPS for the quarter, topping 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 net margin of 9.98% and a return on equity of 10.68%. During the same quarter in the prior year, the firm earned $1.63 EPS. Equities analysts predict that American International Group, Inc. will post 6.95 earnings per share for the current year.

American International Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $0.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a yield of 2.04%. This is an increase from American International Group’s previous quarterly dividend of $0.36. American International Group’s dividend payout ratio (DPR) is presently 21.49%.

American International Group declared that its Board of Directors has initiated a stock repurchase program on Wednesday, May 1st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the insurance provider to purchase up to 19.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

AIG has been the topic of a number of research reports. TD Cowen began coverage on shares of American International Group in a report on Wednesday, January 10th. They set a “market perform” rating and a $78.00 target price on the stock. Citigroup upped their target price on shares of American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. lifted their price target on shares of American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. BMO Capital Markets cut their price target on American International Group from $83.00 to $81.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Finally, Evercore ISI raised their price objective on shares of American International Group from $80.00 to $81.00 and gave the stock an “in-line” rating in a report on Friday. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, American International Group presently has an average rating of “Moderate Buy” and an average target price of $80.44.

Insider Buying and Selling at American International Group

In other American International Group news, Director John C. Inglis purchased 659 shares of American International Group stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $75.39 per share, with a total value of $49,682.01. Following the acquisition, the director now directly owns 659 shares of the company’s stock, valued at $49,682.01. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director John C. Inglis purchased 659 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the acquisition, the director now directly owns 659 shares of the company’s stock, valued at approximately $49,682.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Peter Zaffino sold 333,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the sale, the chief executive officer now directly owns 505,420 shares in the company, valued at approximately $38,346,215.40. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

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.