Bogart Wealth LLC Has $7.98 Million Position in American International Group, Inc. (NYSE:AIG)

Bogart Wealth LLC lifted its position in shares of American International Group, Inc. (NYSE:AIG) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 117,736 shares of the insurance provider’s stock after purchasing an additional 3,712 shares during the period. Bogart Wealth LLC’s holdings in American International Group were worth $7,977,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. 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 buying an additional 319,948 shares during the period. American Century Companies Inc. lifted its position in shares of American International Group by 22.6% during the 3rd quarter. American Century Companies Inc. now owns 422,852 shares of the insurance provider’s stock valued at $25,625,000 after acquiring an additional 77,874 shares during the period. Essex Financial Services Inc. acquired a new stake in shares of American International Group during the 4th quarter worth $260,000. Sequoia Financial Advisors LLC increased its position in shares of American International Group by 121.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 38,809 shares of the insurance provider’s stock worth $2,629,000 after purchasing an additional 21,279 shares during the period. Finally, abrdn plc increased its position in shares of American International Group by 19.6% in the fourth quarter. abrdn plc now owns 598,143 shares of the insurance provider’s stock worth $40,524,000 after purchasing an additional 98,143 shares during the period. Institutional investors own 90.60% of the company’s stock.

Insider Activity

In other news, CEO Peter Zaffino sold 333,000 shares of American International Group stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 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 $38,346,215.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John C. Inglis purchased 659 shares of American International Group stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the purchase, the director now owns 659 shares of the company’s stock, valued at $49,682.01. The disclosure for this purchase can be found here. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on AIG shares. TD Cowen started coverage on American International Group in a research note on Wednesday, January 10th. They set a “market perform” rating and a $78.00 target price for the company. Royal Bank of Canada increased their price target on American International Group from $76.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. UBS Group lifted their price objective on American International Group from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Bank of America cut American International Group from a “buy” rating to a “neutral” rating and upped their target price for the company from $75.00 to $77.00 in a report on Tuesday, February 20th. Finally, Evercore ISI raised their price target 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, May 3rd. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $80.44.

American International Group Stock Up 0.2 %

Shares of AIG traded up $0.13 during trading hours on Thursday, reaching $80.02. 339,786 shares of the stock traded hands, compared to its average volume of 3,952,819. American International Group, Inc. has a 52 week low of $51.86 and a 52 week high of $80.76. 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 stock has a fifty day simple moving average of $75.73 and a 200 day simple moving average of $69.84. The company has a market cap of $53.11 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 1.11 and a beta of 1.02.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $12.04 billion. During the same quarter in the previous year, the firm posted $1.63 earnings per share. On average, equities analysts forecast that American International Group, Inc. will post 7.05 EPS for the current year.

American International Group announced that its board has initiated a share buyback plan 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 plans are often 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. Shareholders of record on Friday, June 14th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.00%. This is a positive change from American International Group’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, June 14th. American International Group’s dividend payout ratio is presently 21.49%.

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.