Courier Capital LLC Has $567,000 Stake in American International Group, Inc. (NYSE:AIG)

Courier Capital LLC trimmed its position in shares of American International Group, Inc. (NYSE:AIG) by 3.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,255 shares of the insurance provider’s stock after selling 280 shares during the period. Courier Capital LLC’s holdings in American International Group were worth $567,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AIG. Rise Advisors LLC acquired a new stake in American International Group during the first quarter worth about $29,000. Neo Ivy Capital Management acquired a new stake in shares of American International Group in the 4th quarter valued at approximately $40,000. Scarborough Advisors LLC acquired a new stake in shares of American International Group in the 4th quarter valued at approximately $40,000. Blue Trust Inc. boosted its stake 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 purchasing an additional 232 shares in the last quarter. Finally, Highlander Capital Management LLC boosted its stake in shares of American International Group by 144.9% in the 4th quarter. Highlander Capital Management LLC now owns 845 shares of the insurance provider’s stock valued at $57,000 after purchasing an additional 500 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at American International Group

In related news, major shareholder International Group American sold 30,000,000 shares of American International Group stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $29.20, for a total value of $876,000,000.00. Following the completion of the sale, the insider now owns 294,203,636 shares of the company’s stock, valued at approximately $8,590,746,171.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.61% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of American International Group from $72.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Piper Sandler lifted their target price on shares of American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $87.00 target price on shares of American International Group in a research report on Thursday. Evercore ISI cut their target price on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday. Finally, Bank of America lifted their target price on shares of American International Group from $82.00 to $84.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 11th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $81.38.

American International Group Stock Down 1.0 %

NYSE AIG traded down $0.73 during mid-day trading on Friday, hitting $74.24. The company’s stock had a trading volume of 8,483,048 shares, compared to its average volume of 4,132,921. The company’s 50 day simple moving average is $76.71 and its 200 day simple moving average is $73.14. American International Group, Inc. has a twelve month low of $56.55 and a twelve month high of $80.83. 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 has a market capitalization of $49.27 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 2.05 and a beta of 1.08.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.11. American International Group had a net margin of 9.98% and a return on equity of 10.54%. The business had revenue of $12.58 billion during the quarter, compared to the consensus estimate of $12.04 billion. During the same quarter last year, the firm posted $1.63 EPS. Analysts anticipate that American International Group, Inc. will post 7.02 earnings per share for the current year.

American International Group announced that its Board of Directors has authorized a stock buyback plan on Wednesday, May 1st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to purchase up to 19.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

American International Group Increases Dividend

The firm also recently declared 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 of this dividend is Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 2.16%. 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 23.88%.

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.