Team Hewins LLC Takes $242,000 Position in American International Group, Inc. (NYSE:AIG)

Team Hewins LLC acquired a new stake in shares of American International Group, Inc. (NYSE:AIG) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,574 shares of the insurance provider’s stock, valued at approximately $242,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. TCW Group Inc. bought a new position in American International Group during the 4th quarter worth approximately $724,000. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of American International Group by 12.3% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 8,177 shares of the insurance provider’s stock worth $554,000 after purchasing an additional 895 shares in the last quarter. Quest Partners LLC bought a new stake in shares of American International Group in the 4th quarter worth $923,000. D.A. Davidson & CO. increased its holdings in shares of American International Group by 1.9% in the 4th quarter. D.A. Davidson & CO. now owns 177,026 shares of the insurance provider’s stock worth $11,994,000 after purchasing an additional 3,259 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in shares of American International Group by 20.1% in the fourth quarter. Coldstream Capital Management Inc. now owns 9,675 shares of the insurance provider’s stock worth $655,000 after acquiring an additional 1,617 shares during the period. 90.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

American International Group Stock Up 0.6 %

NYSE AIG traded up $0.45 during midday trading on Friday, hitting $78.03. 2,045,776 shares of the company traded hands, compared to its average volume of 4,205,354. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market cap of $51.79 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 0.93 and a beta of 1.02. The company’s 50-day simple moving average is $76.94 and its 200-day simple moving average is $71.37. American International Group, Inc. has a 52 week low of $52.78 and a 52 week high of $80.83.

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, topping analysts’ consensus estimates of $1.66 by $0.11. The firm had revenue of $12.58 billion during the quarter, compared to analysts’ expectations 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 last year, the firm earned $1.63 EPS. As a group, equities research analysts forecast that American International Group, Inc. will post 7.08 earnings per share for the current year.

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

American International Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a yield of 2.05%. This is a boost from American International Group’s previous quarterly dividend of $0.36. American International Group’s payout ratio is currently 21.49%.

Analyst Ratings Changes

Several analysts recently commented on the company. Evercore ISI lifted their price objective on American International Group from $80.00 to $81.00 and gave the stock an “in-line” rating in a report on Friday, May 3rd. Piper Sandler increased their price target on American International Group from $87.00 to $89.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. UBS Group increased their price target on American International Group from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. BMO Capital Markets raised their price objective on American International Group from $88.00 to $89.00 and gave the company an “outperform” rating in a research note on Monday, May 13th. Finally, Bank of America downgraded American International Group from a “buy” rating to a “neutral” rating and increased their price target for the stock from $75.00 to $77.00 in a report on Tuesday, February 20th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $81.06.

About American International Group

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.