Apollon Wealth Management LLC Has $1.39 Million Stock Position in American International Group, Inc. (NYSE:AIG)

Apollon Wealth Management LLC boosted its stake in shares of American International Group, Inc. (NYSE:AIG) by 66.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,551 shares of the insurance provider’s stock after purchasing an additional 8,235 shares during the quarter. Apollon Wealth Management LLC’s holdings in American International Group were worth $1,392,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of AIG. Cary Street Partners Investment Advisory LLC raised its position in shares of American International Group by 0.9% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 18,553 shares of the insurance provider’s stock valued at $1,257,000 after buying an additional 157 shares during the last quarter. Meeder Advisory Services Inc. grew its holdings in shares of American International Group by 1.3% during the 3rd quarter. Meeder Advisory Services Inc. now owns 12,808 shares of the insurance provider’s stock worth $776,000 after purchasing an additional 162 shares in the last quarter. Avantax Advisory Services Inc. increased its position in shares of American International Group by 3.6% during the third quarter. Avantax Advisory Services Inc. now owns 4,819 shares of the insurance provider’s stock valued at $292,000 after purchasing an additional 167 shares during the period. Lindbrook Capital LLC raised its stake in shares of American International Group by 2.7% in the fourth quarter. Lindbrook Capital LLC now owns 6,764 shares of the insurance provider’s stock valued at $458,000 after purchasing an additional 176 shares in the last quarter. Finally, Aspiriant LLC boosted its stake in American International Group by 3.4% during the fourth quarter. Aspiriant LLC now owns 5,417 shares of the insurance provider’s stock worth $367,000 after buying an additional 178 shares in the last quarter. 90.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AIG has been the subject of several recent research reports. JPMorgan Chase & Co. increased 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 report on Monday, April 8th. Piper Sandler boosted 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. Keefe, Bruyette & Woods increased their price objective on American International Group from $82.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Morgan Stanley upped 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 report on Monday, April 15th. Finally, Wells Fargo & Company lifted their price target on shares of American International Group from $74.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, American International Group has a consensus rating of “Moderate Buy” and a consensus price target of $80.44.

Insider Buying and Selling at American International Group

In related 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 transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction on 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 owns 505,420 shares of the company’s stock, valued at approximately $38,346,215.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John C. Inglis bought 659 shares of the firm’s stock in a transaction on 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 completion of the purchase, the director now owns 659 shares of the company’s stock, valued at approximately $49,682.01. The disclosure for this purchase can be found here. Insiders own 0.61% of the company’s stock.

American International Group Price Performance

Shares of AIG stock opened at $79.89 on Thursday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05. American International Group, Inc. has a 12 month low of $51.86 and a 12 month high of $80.76. The firm has a market cap of $53.02 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 1.11 and a beta of 1.02. The stock has a 50-day moving average price of $75.73 and a 200 day moving average price of $69.84.

American International Group (NYSE:AIG) last announced 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. The business had revenue of $12.58 billion for the quarter, compared to analyst estimates of $12.04 billion. American International Group had a net margin of 9.98% and a return on equity of 10.54%. During the same period in the prior year, the business posted $1.63 earnings per share. Research analysts expect that American International Group, Inc. will post 7.05 EPS for the current year.

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Friday, June 14th. This is an increase from American International Group’s previous quarterly dividend of $0.36. American International Group’s dividend payout ratio is currently 21.49%.

American International Group announced that its Board of Directors has initiated a stock buyback program on Wednesday, May 1st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the insurance provider to buy up to 19.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

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.